For recruiters, finding the right candidates to hire does spark joy. The part where they have to undergo salary negotiation, however, may not spark as much joy.
Asking a candidate’s salary expectation is an important stage in the hiring process, as recruiters need to sort out salary details before moving forward with the offering. Recruiters typically ask for salary information in order to find out if the company can afford paying the candidates and to understand the salary range in the industry better. Since salary negotiation is bound to happen as a part of the selection process, here are some ways to make it convenient for both the recruiter and the candidates.
The first thing you need to figure out is what the salary range is for a particular position and make sure that the company has the budget plan in place. Recruiters serve as middlemen for candidates providing labor and companies looking for labor. The next thing to do is finding out if the candidate is reasonable and has realistic expectations. This can be done by asking the candidate’s salary range to see whether it matches the company’s budget. For example, these are the two questions you can ask:
Read also: The Art of Job Offer Negotiation
By asking these questions, you can proceed to the next step, which is deciding whether the candidate’s salary expectation is within the company’s budget. In some cases, there are candidates who actually set the salary expectation lower than the average range. Recruiters can use this opportunity to close the deal and move forward to the next hiring step. Otherwise, if you think that the candidates are worth more than what they ask for and the company budget fits, you can always tell them that they can earn more. Neither is right or wrong, as it is merely a matter of preference. The key here is to be honest with each other so candidates will feel they can trust you and accept the job offer.
Now, what will you do if a candidate’s salary expectation is above the company’s budget? In a situation like this, the best move you can take is being honest that the number might be too much and revealing the amount of compensation your company can offer. Upon doing so, there are two possible outcomes that follow: candidates take it or leave it. If the candidate shows doubt, this is where salary negotiation can take place.
Open the negotiation process by asking the candidate to explain the reason behind their proposed salary expectation. You can expect some reasons from them. If the candidate says that a friend of theirs in the same position earns more than the expected salary, kindly inform the candidate about the average salary range for that role in that industry. This is to show that their expectation is above the average and that the company can only offer within the range. If the candidate got a competing offer that beats your budget, observe whether the number shown to you is realistic. If you are not really sure whether the candidate is making it up or not, kindly ask the candidate to show the offering letter that can prove the given statement. If, in the end, the candidates seem unshakable, then maybe it is best to let them go. Why hire someone beyond your financial ability, afterall?
Understanding the needs of both the company and the candidate is what recruiters do, including in salary negotiation. Make sure to always stay informed about the average salary range and keep in mind the company’s budget plan. Be passionate and show your empathy towards candidates during negotiation. By doing so, you can find the best resolution for both parties.
Read Also: Top 5 Salary Negotiation Mistakes Made by Hiring Managers
