[JMTQp8lwXL]

You do the next best thing, and give them the title. If the goal is retention, and the options are title and money, or no title and no money, you go with the former. If you can afford to lose the person, you do nothing. It's suboptimal, and the world is full of suboptimal decisions.

[mandevil]

A title without money is valuable to the employee only because it gives them better leverage to find a job that gives them with more money.

[beardedetim]

100000% this. Sure, I’ll take the title bump because in X months I’ll be able to get a raise from another company using that title.

[vardaro]

I don’t think so. Most companies in familiar with price their hires with respect to seniority and interview performance.

[loonster]

A title without money would make it easier for them to transfer somewhere else. It will buy you a short amount of time while they "gain experience" in their new title.

[TechBro8615]

Changing the title without compensation sounds like a slap in the face. I'd probably accept the title change and immediately start looking for a new job where I can use it as leverage to increase my salary.