All of the interviews are done and you’ve zeroed in on the person you want to hire. Now, the work begins with the job offer negotiation. Here are some tips for getting what you want.
I think most job candidates and managers agree – talking salary can be very uncomfortable. When you’re presenting an offer, you walk that fine line between trying not to overpay and not scaring off a great potential hire with a lowball offer. You want your top candidate to be eager to join your team.
Following are four steps that can help you have a productive discussion:
1. Know what the job’s worth
You’ll enter the job offer negotiation far more confident if you are familiar with the latest compensation trends. Savvy job seekers will be armed with data about their value, so make sure you’re just as prepared. You can download a free copy of the OfficeTeam Salary Guide to get current salary data on a variety of administrative positions.
2. Get ready to negotiate
Even if you’ve made a competitive offer, the candidate may still ask for more. If you can’t match the request, think of what else you can do to bolster your offer. For instance, maybe you can provide flexible work hours, additional vacation time or a performance-based bonus after a set period of time. Often, it’s the little things that can tip the scales in your favor.
3. Don’t go overboard
It’s tempting to do all you can to get that ideal job candidate to accept your offer. After all, you’ve invested a lot of time evaluating applicants and finding the right person for the job. Be careful, though, about going higher than the established pay range to get the candidate you want. Word may get out and existing staff will not be happy if that new employee is earning more than they are.
If someone seems hesitant to accept the job offer despite your willingness to negotiate, it may be best to give up. The last thing you want is a new hire who isn’t excited about working for you.
4. Put it in writing
Make sure both you and the candidate are clear about the finer details you’ve agreed upon by drafting a job offer letter. The job offer letter should cover the job title, responsibilities, start date, salary and any points you agreed upon during discussions, like special work hours or reimbursement for completing a certification program.
Once the job offer letter is signed and the person is officially hired, you’ll want to keep in touch. Provide additional information about the company, such as details about the dress code and corporate culture, as well as any relevant forms. This will help to get your new hire off to a great start.