When targeting their next employer, in demand professionals often have multiple job offers to choose from these days. In addition to financial compensation, prospective employees are looking for an offer which will provide them with non-monetary benefits and an environment for them to feel valued at work.
How do you make a job offer that will maximise your chances of the professional accepting and how do you work out the right salary package to offer?
1. Always confirm a job offer in writing
Although there is nothing wrong with initially making a job offer verbally, a vast majority of professionals will not actually accept an offer until it’s been confirmed in writing. A written offer could also be the difference between your offer being accepted and the jobseeker choosing one from a competing employer. It is recommended to send a written confirmation within two or three days of a verbal job offer, if possible. It will reassure the candidate that you are serious about getting them on board and that the process is progressing.
2. Offer professionals what they are worth
How much should you pay a professional you want to recruit? There’s no straightforward answer and the amount will depend on geography, industry, budget, seniority and the job market. The salary you set must be high enough to attract and retain top talent but not so high that it is wildly above what your competitors are paying.
Many professionals are becoming savvy about researching how much they can earn by using online resources such as our Global Salary Survey and looking at similar job adverts. It is therefore crucial for you to benchmark salaries to ensure the offer you make is fair and attractive. By being competitive, you will have a much greater chance of securing your preferred candidate.
3. Promote the right aspects of the job
One of the best ways to ensure your job offer is accepted is to understand the job seeker’s key motivations as well as their salary and career expectations. Having this information will not only help you make a decision about who the best person for the job is, it can also help you to create a compelling and tailored offer, making acceptance much more likely.
Top 3 key benefits to promote in the job offer are:
- Salary package
- Cultural fit
- Career progression opportunities
As the economy continues to grow, in-demand professionals increasingly shop around for more desirable opportunities, seeking higher salaries, an easier commute or better work-life balance. It is important for hiring managers to keep recruitment processes short and efficient in order to avoid losing their best candidates.
4. Make your offer competitive
Most professionals will prefer to receive two offers before making their final decision, and chances are one is a counter offer from an existing or competing employer.
If a potential employee indicates they have another offer on the table, do not be afraid to ask what exactly the other employer was able to furnish that you weren’t. Take the feedback on board and tweak your future offers to be more competitive. Extend any benefits or initiatives offered to new employees to existing ones to help improve staff retention and engagement.
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