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Posted: June 29th, 2022
You are the CEO of Thinkfast, Inc., a high technology firm in Boston.
You are the CEO of Thinkfast, Inc., a high technology firm in Boston. Your top engineer, Jenny Lee, has just been offered a position with your leading competitor, Worksmart.com in Illinois. Pay will be $300,000 a year, twice the $150,000 a year she makes at Thinkfast. Jenny began her career with your firm and has been a loyal and productive scientist. She is in the final stages of developing a microchip that could provide millions of dollars in new business. No one else on your staff can replace Jenny’s expertise. Jenny wants you to match the $300,000 salary or she leaves for Worksmart. She cannot take the microchip to a competitor, but she can begin something new for Worksmart, while you try to find someone qualified to take over her old project and position. You currently have a policy (set by you) of frozen salaries until Thinkfast shows a profit, something it has yet to do. Thinkfast is a high-tech startup company that you founded. You are the principal owner. The very survival of your company may be at stake. You need to negotiate the best outcome for Thinkfast.
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You are the CEO of Thinkfast, Inc., a Boston-based high-tech firm. Jenny Lee, your top engineer, has just accepted a position with your main competitor, Worksmart.com, in Illinois. Her salary will be $300,000 per year, which is more than double her current salary of $150,000 per year at Thinkfast. Jenny started her career with your company and has been a dedicated and productive scientist. She is nearing the end of developing a microchip that could generate millions of dollars in new revenue. Jenny’s expertise cannot be replaced by anyone else on your team. Jenny demands that you match her $300,000 salary or she will leave for Worksmart. She can’t give the microchip to a competitor, but she can start something new for Worksmart while you look for someone else.
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