It’s the elephant in the room. The one subject everyone wants to talk about, but nobody wants to be the first to bring up. This most likely will be the deciding factor on whether you land your potential new hire. As an employer, salary is certainly on your mind, and you can bet it’s on your candidate’s mind too. Here’s how to successfully negotiate a salary with a candidate you want to hire.
Already Have a Salary Range in Mind
Before the interview, have a salary range in mind. First and foremost, it needs to be a range that your budget allows. It should also be comparable to current employees who hold similar positions within the company. Paying a candidate significantly more will not sit well with the existing employees. If you pay too little, you run the risk of your new hire quitting before the onboarding process is even completed. People talk, and a large pay gap may be discovered. This will cause friction in the workplace and potential headaches for you.
Determine How the Candidate is Motivated
Most candidates will be motivated primarily by salary, with non-salary perks being a secondary interest. This is perfectly normal. Everyone has bills to pay. However, there will be some for which salary will not be the deciding factor. In today’s world, the ability to maintain a work-life balance is equally important. For instance, a candidate may be more favorable of a lower salary, with a flex schedule and weekends off than to take a high salary without any of the non-salary perks.
Be Upfront About the Salary Immediately
Just by the interview taking place means there is an expressed interest on both sides. Salary will be the elephant in the room from the very beginning. Address it early in the interview. Ask directly what the candidate is looking for. More than likely, they will throw out a modest figure that is probably a little more than their bottom-line. If it is too high, don’t be afraid to explain that it isn’t possible with your budget. Counter-offer with a fair salary you can accommodate and go from there.
Consider Non-Salary Options
Do not underestimate the power of perks. If you have a candidate that you really want but can’t meet their salary expectations, you may be able to negotiate with non-salary options. This could include:
- A flexible work schedule
- The ability to work remotely
- Paid gym membership
- Tuition reimbursement
- Clothing stipend
- Transportation reimbursement
- Additional vacation or a floating holiday
These combined with the highest salary you can reasonably offer may be just enough to seal the deal.
Find the Perfect Employee Today
Do not waste time sifting through a stack of resumes. Let Arrow Staffing, a leader in staffing the Grand Rapids, MI region, handle the legwork for you. Request an employee, and we will search our diverse, high-quality candidate database to find the perfect employee to fit your personnel needs.