Jobseekers negotiating their salary is not uncommon and employers should be able to handle negotiations in a win-win way
Job seekers negotiating their salary and benefits package is not uncommon and employers should be able to handle negotiations in a win-win way. Salary negotiation does have some perks for employers, it allows an open and transparent path of communication which builds up rapport and can reveal what working with employee will be like.
It’s best for employers to be prepared for negotiations. In an article entitled ‘How smart companies handle a salary negotiation’, HRD’s Coann Labitoria outlines the steps employers can take to have a successful salary negotiation.
Five tips for salary negotiation
1. Arm yourself with knowledge in industry trends
Know what the average salary and compensation trends in your industry are. This will give you an indication of what they expect, and the data will provide reasoning if you respond with a counteroffer.
2. Put employees first
Ask the candidate what they want. They may want leave credits or flexi-working arrangements instead of a pay rise. Finding out what the candidate wants will help employers form the best offer.
3. Prepare your talking points
Explain your decisions with facts and data. Explaining critical points allows the candidate to get to know your company so they can assess if they will be a good fit.
4. Be confident
Employees are more likely to be more considerate of the employers offer if it is delivered with confidence but the right balance of confidence. Trust your decision-making skills and salary negotiation processes.
5. Tell the truth
Transparency and honesty are key in salary negotiation. Being fair and honest with salary packages should be the topmost priority of employers.
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During salary negotiations, employers should be firm and stay open to options and keep the lines of communication open.