“Should I be advertising my job at a higher salary?”.
Let’s have an honest conversation.
Because we believe in doing recruitment the right way, we’ve recently had to have difficult conversations with some hiring companies whose salaries have been lower than market expectations.
Driven by the candidate shortage, those companies who’re offering lower salaries have struggled to attract the right talent for them, leading to longer recruitment processes. But now a new factor has come into play. The rising cost of living.
We recently put out a poll to our LinkedIn audience about whether they’d be asking for a pay rise this year and the reason behind it if they were. 63% said the rising cost of living would motivate them to have that conversation internally or seek an increase from elsewhere.
As employees grapple with rising costs, it’s inevitable that companies may be receiving more requests for pay rises than they have previously. If employers are unable to accommodate increases, then more candidates are likely to enter the market seeking out an opportunity to increase their wage.
Though increased talent pools may be music to the ears of companies looking to hire, if salaries are not attractive, application volume is likely to remain lower compared to competitors.
Our honest answer to employers asking this question, is to stay ahead of the competition.
+ Check what salaries competitors are advertising their positions under.
+ Consider what employees are asking for internally.
We understand that not all employers can meet the demands of the market. So if salary increases are off the table, considering other ways to make a role stand out is key.
