Today’s job market has drastically changed for recruiters. Just a year ago, there were few jobs and many candidates whereas now, there are a lot of vacancies and a lot of competition for the right candidates.
We have all changed. We have been shown a way of life that we like and now candidates are demanding more from their employers than ever before. In some cases, candidates are interviewing businesses rather than the other way around.
Whilst it’s great that there are more available candidates looking for new opportunities, it does mean that in a lot of cases, there is competition for great employees.
As a recruiter, you may feel you have found your ideal candidate only to have them come back to you with a counteroffer received from another organisation.
Whilst larger companies can perhaps manage this effectively and get involved in a cat and mouse game, a smaller business is unlikely to be able to complete. For them, increasing the salary band many be a stretch and it could result in them losing out on quality candidates to larger businesses.
But there is good news. The one thing we have all adjusted to over the last two years is that all important work/life balance. Employees are enjoying the fact that they don’t have to commute to work or that there is flexibility in their hours. That means that there is something to work with when it comes to making an offer.
So, what do you do if a candidate is asking for more than you wanted to offer?
Here are a few alternatives to an increased remuneration package.
1 – Consider offering flexible working
Flexible working can come in several forms. From job sharing to flexible hours to remote or hybrid working. Not only does it show the candidate that you are a flexible employer, but it also opens the door to a larger talent pool.
2 – Think benefits
Not everyone is interested in the end of month pay packet. Many candidates will value the other benefits a company can offer. It could be an annual bus pass or subsidised lunches, through to a better pension or healthcare benefit. These add up and will give the candidate serious food for thought.
3 – Culture is important
Job seekers have higher expectations now than they used to and the working culture is important. Do you promote a family friendly policy? Do you have regular staff get togethers (virtual or face-to-face)? What kind of atmosphere is there in the office? Is there an open-door policy? Will the candidate feel valued if they come to work for you? Job satisfaction is high up on the priority list and if you can prove you are the company to offer this, it will set you in good stead.
4 – Career opportunities
At most interviews, a candidate will ask if there is the opportunity to work their way up and usually, a recruiter will say yes. But put some real thought in to this. Have a plan that you can present to the candidate that shows them exactly how you will work with them to help them climb the ladder. Be specific in the opportunities available for the right person.
5 – Invest in your people
A candidate who feels you will invest in them will take you seriously. Consider what training you currently offer and if it’s not enough, put a plan in place to increase it. Personal development is important and if you can offer a very structured training programme, it will make you stand out.
6 – Promote yourself on social media
Social media isn’t just a place to find clients, it is also a great opportunity to find high calibre candidates. Promote your culture online. Show potential clients and candidates how teamwork is important to you and how much you value your staff. It could be as simple as a weekly ‘team member of the week’ slot but it will go a long way to showing you in a shining light.
The advantage you have is that people are looking for organisations that will treat them well, promote a healthy culture, show concern for employee wellbeing, and offer a great work/life balance. It isn’t all about the financial package and if you can show that they will enjoy working for your organisation above any other, your offer is likely to be accepted.