When the job market is hot, negotiating power needs to be in the hands of one person and this should be the person making the job offer.
The days of waiting for the President/General Manager/VP to approve or deny the requested compensation package should be long gone, or, your candidates will be.
Today I am outlining my top 3 tips for hiring managers and recruiters to utilize when negotiating with potential new hires.
In 2022, the salary band, maximum signing bonus and vacation should be clearly figured out in advance. Once a hiring decision has been made, the wages and benefits are determined and the offer made verbally and sent out without any delay.
When the person providing the offer has the power to make adjustments within the salary band, it saves any back and forth and really reduces the chances of a counteroffer or a competitor snagging the rockstar Manager your company wanted to hire.
Job offers should be automatically calculated, and be made based on years of experience/skill level or results/achievements discovered during top grading interviews, and confirmed through reference checking.
An offer should be at, or above, outlined salary expectations, not on what the hiring team “thinks” the person is worth. Poor employer equity will result in more declined offers and/or higher turnover.
Provide a quick window to have the offer returned, 24 hours is best. When the offer is verbally made, have a call scheduled to discuss onboarding/start dates or any further negotiations.
The key to this follow-up call is that the person making it must have the ability to make adjustments and finalize the offer verbally and confirm, “If we make these changes can you return it to me by 3pm today?”
Using a digital signature service is also key. Asking a candidate to print, sign and scan an offer is a practice that is well behind us.
Sticking to these simple methods will ensure your new hire negotiations run both smoothly and efficiently and without unnecessary time-wasting.
What do you find to be helpful with new hire negotiations?
Let us know in the comments!
Check out more Recruiting Tips and Resources on our blog here!
Kael Campbell is President and Lead Recruiter of Red Seal Recruiting Solutions, a company providing recruitment services in mining, equipment and plant maintenance, utilities, manufacturing, construction, and transportation. When he is not recruiting, Kael spends as much time as possible with family in the great outdoors and on the water. He volunteers his time as a Board Member of the Entrepreneurs Organization of Vancouver Island. We have a wide variety of services to help you find the best employees. See how we can help on our Recruiting Solutions page.