Remember these 4 tactics when negotiating salary with a candidate
Congratulations, you picked the perfect candidate and sent them your offer. The candidate has had time to review the offer and now wants to negotiate on salary. Take two minutes to remind yourself of four helpful tactics when negotiating salary with a candidate.
Do Your Research and Respect Theirs
Research what your competitors are offering for top talent. Researching online or asking other executives the range they would offer for a similar position will allow you to anticipate what salary your candidate may request. Remember to respect your candidate’s research when it is presented to you.
Explain company perks
Your company may provide healthy snacks for all employees or give an extra week of paid vacation during a busy holiday season. Sell the perks that your current employees have. You never know which perks will interest the preferred candidate, so be sure to explain them all.
Flex time or work at home days
Negotiate on work at home days in a year or flexible working hours. If your budget is tight and there is little room to negotiate on salary, throw in a few more work at home days. Ensuring the candidate has a secure internet connection costs less compared to an increase in annual salary. The candidate will see this as a generous offer and think highly of your organization.
Signing Bonus
Adding a signing bonus can entice your candidate to choose your company over a competitive offer. This could also help if the preferred candidate is required to move and your organization does not provide relocation fees.
Remind yourself of these four tactics next time you negotiate salary with a candidate.
Human Edge Global is a quality-first, relationship centered retained search firm with locations across Canada. We help clients recruit the very best candidates for their executive, professional and technical teams. To find out more about how we can help you compete for and attract the best talent in your industry, please contact us.