I was just promoted to President of my company. Unfortunately, I need to make some personnel moves. One issue I'm struggling with is that the company has a few managers and executives that have been given titles and salaries (mostly as a result of their many years with the company) that are larger than the reality of the quality of the work they do and the quality of their skill set.
Their inflated title and compensation are making it harder for us to bring in new talent at the more realistic titles and salaries.
I don't necessarily want to lose the current employees but I need a way to "hit the reset button" and get titles, salaries, more aligned with what we truly need. Does anyone have any ideas on how I can go about this and not wind up in a lawsuit at the same time?
