5 Tips to Get Great Talent for Less Money

Find the best employees without breaking your budget

1. Consider immigrants. Many are talented people who will accept less pay because they don’t speak English. (But pay them fairly!)

2. Keep an eye out for displaced “Mommy Trackers”—smart women who’ve left corporate executive positions to start a family or be closer to their children. They can make excellent part-time executives.

3. Investigate employee-leasing and temporary-help services.

4. Offer internships and part-time challenges to graduate students and upper-level undergrads. They want to get experience and can bring excellent knowledge and skills.

5. Get referrals from employees—and don’t be afraid to hire relatives of good workers. You can save substantially on recruiting costs this way.