Don't Guess On Salaries

When you're ready to extend an offer, come to the table "with the best offer first," advises Clem, who adds that some companies lose good candidates because they come in with "low ball" offers.

Aim to pay at or above market rate, and "don't make promises you can't keep" on raises, bonuses and other financial incentives, Clem said.

And as for current staff, review their salary levels, she added. That way, you can have a good idea whether they're earning at or near what the market will bear – which can help keep them from looking elsewhere.