Some experts currently believe that the skills gap is not actually an issue of unqualified employees but rather that companies aren’t willing to pay qualified employees truly competitive salaries. Since the recession many companies tightened the purse strings and haven’t really allowed for any flexibility in an effort to save money. However, this means many companies are losing out on perfect candidates over just a few dollars. Here are some tips you should consider when offering and negotiating a salary.
- Figure out your true budget before interviewing. Before you start to interview for the position make sure you understand your company’s budget for the role. You want to know the bottom line but you also want to know what kind of wiggle room you have to facilitate negotiations. Both your accounting department and your human resources team can help you figure out the numbers before you interview.
- Allow the negotiation to be a real conversation. A salary negotiation needs to be a give and take. Managers who maintain a bully stance and demand that a job seeker accept their offer because it is the best they are going to get will often be met with rejection. If a person does accept they may have a negative view of you and the company before they start and the job will get off on entirely the right foot.
- Tailor a package to each employee. Talk to the candidate about what they are really looking for in regards to salary. Sometimes it isn’t just about the money but a benefits package, bonuses and even paid time off. You don’t have to have each compensation package in your company be identical. See where you can give them what they are looking for in order to attract a better quality candidate who will be engaged and happy on the job.
- Find out what their trigger points are for walking away. Job seekers are advised to run their own numbers before going into negotiations as well. They will likely use the same resources, such as Salary.com, to base their expectations. If you make an offer that is too low they will be willing to walk away. Talk to them about what they need and how you can make the amount more attractive to them.
Are you looking for more salary negotiation advice? Harvard Resource Solutions Staffing Agencies in Detroit MI can help today!