If [the target's] average pay is half of the buyer's average pay, guess what—their payroll is going up 50%. All those things need to be allowed for within the projection model in which you value the business, which is all a function of the CFO.

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HR should have a seat at the table only if they are able to talk dollars and cents.

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You can ask some questions that might uncover it, but if you can't get to it, you can't get to it.

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