How to determine if you’re paying enough to attract the best talent?

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How to determine if you’re paying enough to attract the best talent?

On a regular basis, clients approach us with new, exciting positions to fill that seem absolutely achievable until we see the salary. As a recruiter or employer, the roles that are being recruited for need to attract people, usually out of their current role. Therefore, the whole package needs to be attractive.

There are lots of tools that can be used as an employee looking to move roles or as an employer struggling to figure out the right salary for specific roles;

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Before decisions are made on salary/pay, research should be carried out to ensure that employees are happy and you can get the best for your money. Because salaries have remained fairly consistent over the past few years it is important for employers to review whether their pay remains competitive as confidence in the job market increases.

Carrying out this research may make or break your whole recruitment process, therefore staying up to date with the latest wage legislation would prove advantageous. The REC share frequent reports and articles on the ever changing recruitment market and are a great organisation to follow when questioning this subject or similar.

Subtly ask your current staff their opinion on salaries or associated packages through surveys or appraisals. This will allow you to pay them what you feel is appropriate and let you gauge for future recruitment. Bench marking is also a great technique to ensure equal pay and happy staff.

If you cannot or do not want to pay the usual amount, certain benefits will appeal to candidates and this could also make or break their decision to apply for your positions. Consider offering factors such as, free parking, health insurance, company mobile or a fair commission structure.

Finally, ask your agency or any recruiters for advice on what the average salary is for certain positions. They will usually have an idea due to dealing with different positions on a daily basis.