The key takeaway here
your candidate about why it’s your best offer. If everyone’s on the same page from the beginning, you’re off to a good start. There can also be legitimate reasons for not adding salary to a job posting. Alicia gave us the ThanksBen perspective: “As a startup grows, roles develop and that needs to be reflected in your levelling.” “When we’re hiring new roles, it’s not always clear right away where they’re going to sit and we’ve needed to be more agile to attract the right talent for the team. It needs to be an agile process, but one that reflects pay equity,” she said. She did add that tracking pay bands was essential though. “Pay bands are incredibly important for preventing inequality and gender pay gaps. We always keep a close eye on our pay bands to make sure our team are where they should be, and we frequently benchmark them.”
A good total compensation approach sets you apart from your competitors, especially if you offer a benefit that isn’t widely available in your sector.
Benefits help build a work culture that gets people excited to work for your company.
Benefits that support employee wellbeing can help manage risk and burnout.
is obvious: be honest.
As the market changes and more regulation around pay transparency comes into effect in the EU, candidates will start to expect good benefits and be turned off if they’re missing.
Rising cost of living means that benefits take on a greater value to candidates.
Solid benefits are good for employee retention — which means you have to hire less.
HOW TO KEEP YOUR CANDIDATES
If all else fails? Hire quickly. The more you can speed up your time to hire, the more you can compete in a crowded candidate market for the most qualified employees. Just make sure your candidate experience doesn’t suffer — which is easier said than done.
It’s important to remember that the half of our respondents who said a benefits package would offset a lower salary were once candidates, too. It’s safe to assume many of your candidates will think the same. The benefits (pun intended) aren’t immediately apparent, but they are there. Whatever your approach, be honest with candidates from the beginning. Be confident in what you’re offering, and be prepared to make the case to
Salary sacrifice schemes can increase the take- home value of benefits for employees.
Diverse benefits help you meet the needs of diverse employee groups , strengthening your business as a whole.
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