Re: Good for competition?
I pay well over the market and am always amazed at the quality of applicants I get. The extra salary expense is easily recouped from having extremely low turnover, thus little downtime getting new hires up to speed. But then, as a private company, I'm allowed to think beyond the current quarter.
It also allows you to employ people who "don't fit in" which is typically the area you'll find the creative thinkers. I'm one myself, and as the mainstay of my work is rescue operations where the people that DO fit in come unstuck, I couldn't do without my merry band of unfits.
The hardest job is to get them to wear a suit on client sites, but as for problem solving skills they are more than 200% worth the cat herding effort and their salaries. Once you have shown them where they fit in the picture (because you have to integrate this bunch with people that do a normal 9 to 5 or you won't get any admin or financials done) you'll have a cauldron of magic that needs very little stirring. You do have to plan for the occasional explosion, but that is what true leadership is about and it's never boring. Besides, I *know* how they think :).