Recruiters know that their candidates value many intangible features in a potential job. However, there's no escaping the fact that compensation matters just as much. Failing to offer competitive compensation means companies will miss out on top talent – and, unfortunately, this is already the case for many American companies.
The Towers Watson Data Services Salary Budget Survey recently found only 50 percent of employees believe they are paid fairly. Only 59 percent said they had a good understanding of what their companies' pay programs were, and less than 40 percent of employees noticed any link between pay and performance.
Recruiters, then, should make a point of showcasing their companies' pay programs — particularly if they are strongly tied to employee performance — to attract the best candidates. A frank discussion about compensation is likely best held at the time of the job offer, which is the period that can make or break a candidate's decision to join a company. With that in mind, recruiters must remain sensitive to precisely how important pay is to workers in the U.S. — and to how many tend to feel they are underpaid.
Conversations about compensation can be awkward and strained, particularly if the candidate does not feel comfortable asking questions. Maintaining a cordial relationship with candidates using the right recruitment tools from the start of the process can smooth this and many other difficult discussions for recruiters and candidates alike.
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