Let’s set the scene: In a bone-dry applicant market, for example, for senior technical roles, where finding top talent is as rare as stumbling upon a unicorn, a candidate made it through the first interview round. A day later, before advancing to the second interview, recruitment called him to negotiate salary. Yes, this was several steps before they even decided if he was the right hire!
His salary expectations were transparent, reasonable, and aligned with market value. The response? “Oh, we can’t do that.”
That "can’t-do" attitude was a slap in the face. Salary expectations were clearly stated in his resume, so there were no surprises. Worse, this wasn’t just a casual oversight; it reflected a fundamental misunderstanding of the candidate’s experience and market realities. After some haggling, the candidate reluctantly agreed to start negotiations at a far below-value as a baseline expectation, but by then, the damage was done. The candidate felt undervalued, and his excitement for the job started to evaporate.
Hiring managers, we need to talk.
The Truth About Today’s Market
In this example, the engineering talent pool isn’t just tight; it’s suffocating. Every top-performing engineer knows their worth, and guess what? They won’t leave a secure job just to earn exactly the same or a yearly token of $ 1000 more. Moving jobs comes with risks, new challenges, a probation period, and leaving behind established relationships.
Please note that this situation applies to all roles within a company, from junior to senior, including recruitment for all C-Level positions. It is not limited to the example illustrated above.
If your hiring strategy relies on underestimating candidates, you’re missing out on valuable hires and may be establishing a reputation as an employer who doesn’t value people. In today’s hyper-connected world, words spread quickly.
Want to attract top talent? You can’t expect them to jump through hoops only to be insulted with offers that scream, "We don’t value you.”
What It Takes to Win the Best Candidates
Here’s the wake-up call:
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Pay Fair Market Value (and Then Some)
Compensation isn’t everything, but it’s foundational. Paying below market rates signals that you’re out of touch or, worse, that you don’t respect the candidate’s skills. Competitive compensation mirrors respect and trust in the value they bring to the table. -
Stop Clinging to Outdated Salary Structures
It’s time to take a hard look at your compensation approach. Task your HR team or an independent external consultancy with THE one critical mission to establish a competitive pay band for every role in your company. Yes, this is a delicate issue. It will impact both your top and bottom lines, but avoiding it has only worsened your current talent crisis. Let’s be honest; failing to update salary structures over the years has unfairly boosted profits at the expense of your employees. While aligning pay scales with market standards will require investment, it sends a powerful message to the talent market. It signals that you value your workforce and are committed to attracting the top-tier talent necessary to gain the competitive edge your company seeks. -
Treat Candidates as Partners, Not Applicants
Recruitment isn’t merely a transaction; it marks the start of a relationship. Stop fixating on CVs and squeezing pennies during salary negotiations. Instead, concentrate on crafting a compelling vision of why they should join your team. -
Streamline the Process
In-demand candidates won’t wait around for weeks while you “check budgets” or get signoffs from six layers of management. Speed matters. Show candidates they’re a priority, not an afterthought. -
Sell the Role Beyond the Paycheck
Candidates care about more than money. They want challenging work, supportive environments, and room to grow. Showcase your company’s mission, culture, and opportunities for development. But don’t forget, none of that matters if the paycheck doesn’t align with their worth.
The Cost of Getting It Wrong
Undervaluing candidates leads to losing them and threatens your organization as a whole. It sends a message to existing employees that their loyalty goes unnoticed, inviting headhunters to lure away your top talent. Additionally, it damages your company’s reputation, making future recruitment efforts challenging.
Think about this: Companies that recognize talent as their most valuable asset don’t argue over $ 5000! They pay it because they understand the return on investment. And they don’t just win candidates; they win loyalty, productivity, and long-term success.
The Bottom Line
Hiring managers, the time for a shift is now. Refrain from treating candidates as if they owe you gratitude for an interview. In the current competitive landscape, it's important to acknowledge how lucky you are when a top candidate considers your job offer. Appreciate their time, skills, and value, or you might find them attracted to competitors who do. Your role extends beyond merely filling positions; it involves nurturing relationships, fostering trust, and cultivating a culture that appeals to exceptional talent.
Always remember: Today, you might be the one hiring, but tomorrow, you could be the candidate! What would you expect from your new employer?
“Always Put a Smile on Your Candidate's Face!”
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