If we told you to double your salary offer to get the best professional talent, what would you say? Okay, we admit that’s a little extreme. You don't always have to go that big to get a result, but even increasing your salary range a small amount can have a big impact on the number and quality of candidates who are interested in your job. It’s critical to ensure your salary ranges are aligned with the market and your own expectations when hiring for any position.
talk with an expert about salary trends
Looking for support in how to put all this salary trend data to work for your business? We're eager to help. Schedule a meeting with a Randstad consultant today!book a meeting now
the same old pay rates don't meet today's standards
The compensation that cultivated strong employee/employer relationships just a few years ago might be considered insulting by candidates today. That's due to a number of reasons, including a massive skills shortage in the nation that's only deepened following the pandemic.
To understand if your salary offers are competitive — and ensure you're not losing top talent to other firms — it's important to evaluate your pay rates regularly.
Consider starting with the latest edition of our salary guide if you haven't already downloaded it. You can also book a meeting with us to learn more about the guide and how it specifically relates to your business.
find out more about how competitive salaries impact hiring.
If you've already downloaded the salary guide and want to learn more about how competitive salary offers work in the real world, check out our case study. It details a small business struggling to hire an intermediate HR generalist.
Was the company offering a competitive pay rate? No. Learn what happened when the company listed the position in that range and how it impacted their ability to fill the role successfully.