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Getting Lowballed in a Bad Economy

Getting Lowballed in a Bad Economy

by Frank Roche on September 2, 2009

in Culture

Would you lowball a person in this economy?

What I’m talking about is taking advantage of a potential employee’s situation. Say he used to make $150,000 per year, and you have a job opening. Since you instituted broad bands, you have latitude. Lots of latitude. In fact, the job could pay anywhere from $50,000 to $200,000 depending on skills and what you want to pay. Since the economy is in the tank, would you pay him $50,000?

I know one part of the argument: It’s a free market. (Okay, if that’s the case, and it’s okay to pay $50,000 for our hypothetical guy, why not take a major chunk of pay away from all your employees? I mean, it’s not like they can just go out and get another job.)

I know another side of the argument: No way. You can’t take advantage of people. (Okay, if that’s the case, why don’t we increase everyone’s pay? I mean, profit is overrated, right?)

What do you think? What would you do?

{ 15 comments… read them below or add one }


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