Written by Christine Walters
Is there a good strategy to follow when attracting top talent to your job opening?
There are many. One key is figuring out which strategy to employ as each candidate will want different things: money, benefits, flex-scheduling, working from home, etc.
First, consider your sources. Ensure you have more than one. Track your results. Save your time and money and use only those that produce positive results. Consider the diversity of your sources or talent pools, regarding not just the usual legally protected classes of age, race, sex, etc., but also industry, geography, experience, etc.
Now, brag. What sets you apart from the competition? Why should someone work for you instead of a competitor? Tout that. When you have selected the one or two candidates you consider most qualified, ask open-ended questions. What do they seek in an employer? Under what type of leadership do they work best, such as collaborative or autonomous? Ensure what the candidate wants is a match to what you offer, including your management or leadership style.
What Are Tips Or Rules For Negotiating A Job Offer With A Future Employee?
If you cannot offer all that a candidate seeks, you will need to entice them with alternatives. You will need to help the candidate see how what you can offer is at least as good, if not better, than what they want. How? Exercise the power of why. Let’s say a candidate wants $5,000 more than you can offer. The candidate tells you they are enrolled in the local college and need the money for tuition. Knowing that, you might be able to share that your company offers a tuition or education assistance program that pays up to $7,500 per year. So, they would receive the $5,000 they seek, and have an additional $2,500 if they wanted to continue their education or professional development. If you match or lead the market in compensation, show them industry market data, too.
I also like sharing a total compensation pie chart. That can be powerful. You can show the person the base wage or salary you are offering, plus: potential additional compensation (overtime, incentive comp, bonuses, etc.); the value of coverage for health care, life, and disability insurance; paid leave; free perquisites you offer or subsidize like parking, gym membership; matching pension or retirement contributions; and more. The candidate can then see that the wage or salary you are offering provides total compensation of up to 40% more than that base figure.
From a legal perspective, work with your human resources representative or legal counsel to ensure the questions you ask or information you seek from a candidate is legally permissible. For example, Maryland and at least three local jurisdictions within the state have laws that restrict or prohibit when and what a prospective employer may ask a candidate regarding the individual’s current and past compensation. These laws vary from one another so what may be permissible under one may not be under another.
This article does not constitute the rendering of legal advice. Please consult with your company’s employment counsel for guidance.
