An important question my clients are currently asking me involves compensation. They want to know if they have to accept a lower salary now because of the current economic downturn.

Companies are still looking for talent and according to the HR professionals I speak to, they’re willing to pay for it. As much as you don’t enjoy looking for a job, companies don’t like conducting searches for good employees. It’s time and resources away from the lifeblood of an organization, revenue generation.

Companies want talented professionals and they realize if they don’t pay the fair market value for that talent, those people will not remain with them long. As soon as the market improves or the professional gets a better offer, the company will be back at square one: conducting another search, doing more interviews and taking more time to get the new hire up to speed.

I have clients currently negotiating and accepting positions at the same or greater compensation than they were previously making. However, as is often the case, there is a caveat; they are in a position to take the time necessary to find the right position at their current level or a step up.

The professionals that are accepting less pay are accepting lesser positions. For example, a company is not going to pay a Vice President’s or Director’s salary to someone entering the company as a Manager.

Unfortunately life sometimes gets in the way, there are mortgages to be paid and families to support. Some people don’t have the luxury of taking the time necessary to find the right position. Those people are the so-called underemployed.

The bottom line, if you’re a talented professional companies are willing to pay for that talent, in good times and bad.

~Linda