There are many reasons why a candidate is interested in a position, but if the money isn’t there, none of them may matter. Similarly, it doesn’t matter how satisfied an employee is at your company because if they feel under-compensated, it’s likely they’ll look for something else. Because you know how important salary is to your team, you need to know the best ways to talk about it with them and potential hires.
How to talk to your employees
The most important thing to consider in conversations about salary is that everyone is compensated fairly. Now, this doesn’t mean everyone will agree, but as an employer, you need to make sure you can justify how everyone is paid. If you can’t do this, it won’t matter how you to talk to your employees about money because they’ll understandably be upset.
Because the topic of salary is frequently discussed, you need to decide how transparent you want to be with your team. You can choose full, partial, or no transparency. Full transparency is rare but not unheard of – essentially everyone within your organization has access to how much everyone makes. Partial transparency isn’t as precise as full, and you get to decide what you do and do not disclose. Finally, no transparency is exactly how it sounds.
Being able to have honest conversations is essential, even if it’s about how there isn’t room for raises or bonuses. Your team wants good news, but they also don’t want to ignore the lack of conversation around news at all. It’s unlikely you’ll ever be able to please every member of your staff, so do your best and make sure you’re conducting your salary operations fairly and ethically.
How to talk to potential hires
Sometimes it can feel like you’re breaking bad news to a top candidate when explaining your salary and how it may be lacking compared to their expectations. If you believe this to be true, it’s better to be honest earlier in the process rather than later. You don’t want to actively pursue a candidate who ultimately says no because you can’t pay them enough.
When it’s time to have the conversation, focus on facts, opportunities and potential. Discuss why your pay level is where it is for clarity. Because you can’t offer them more, take time to discuss other company perks that can showcase additional benefits about working for your company. Finally, make sure you explain the room for growth in your company and the raise potential. They’ll be more likely to say yes knowing it can increase in the future.
Find highly qualified employees today
When you need office help or workers for your warehouse operations, manufacturing, and light industrial operations, trust Workbox Staffing to deliver. We’re an employment agency that recognizes it’s about more than filling a void, which is why we have an extensive hiring process that allows us to guarantee you’re getting a great employee. Contact us today to learn more!