Photo by Towfiqu barbhuiya on Unsplash
As part of the hiring process, we often disclose salary expectations as early as possible. The reason for this is simple, we want to avoid any form of misalignment between the candidate and the hiring company ASAP. Certain potential employees will give us the age-old line, “Well, let’s cross that bridge when we come to it.” Hiring companies might say something like, “I really love this person’s background and I feel like they could be a fantastic fit,” all the while completely ignoring the topic of compensation.
This is a red flag!
We have a saying in our office, most (if not all) of the time, a candidate must be given at least a small economic incentive to leave their current company. This is especially true if things are going well for the potential employee. For example, if a sales leader is being recruited and they’ve hit their numbers the last five years in a row, including the current year, it's safe to say an economic advantage is necessary for them to consider other opportunities. If a candidate discloses desired compensation that is within the salary range described as acceptable by the hiring company, it’s GO TIME!
Back to the red flag. Again, it's our policy to let a hiring company know what the person is seeking in terms of compensation. Yet, this still doesn’t prevent certain companies from proceeding through the hiring process and then offering compensation for a position that is far lower than the candidate would ever consider!
This is a red flag!
Why? Does the company believe they’ll sway the candidate into a better team or working environment? This is possible, but if the last three years are any indicator in terms of the importance of salary, we shouldn’t get our hopes up. Money talks and reputations are at stake. The candidate, the hiring company, and the recruiting firm are all putting their time, reputation, and relationship at risk. It is essential for companies to accurately qualify compensation EARLY in the hiring process.
We are currently in a time when salaries and expectations are inflated. Despite this unique period, misalignment can be avoided. Transparency early is key. Don’t lose top talent by moving on candidates that may not be in the budget.
Written by: Rob Scherer, Vice President at Hunter Crown, LLC
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