Today’s highly competitive job market has made talent acquisition even more challenging than it was before the global pandemic. This is especially true for mid to top-level positions where hiring the right person for the job is crucial to the business' ongoing success.
Randstad recently worked with a client struggling with this very issue. A utility company was seeking an experienced business intelligence architect with a specific skill set. While the company was able to attract a qualified applicant during the initial recruitment process, the candidate was lost to a competitor offering a better compensation package.
salary is a common hiring obstacle
The reality is that this hiring obstacle is not uncommon. According to our latest Employer Brand Research report, salaries are the number one driver for candidates seeking out new job opportunities. So, it should come as no surprise that candidates are often drawn to offers with higher salaries.
For employers, however, identifying the ideal salary range can be quite challenging. Setting salaries too low can significantly impact hiring outcomes, whereas, offering salaries that are too high can damage the company's financial stability.
gauging the right salaries
This is where Randstad stepped in to help. We conducted an extensive industry research study to determine the appropriate salary range for a business intelligence architect in Toronto with the right level of skill and experience. Through this research, we were able to determine that the company’s current salary offering ranked in the bottom 10% in the industry. This factor was no doubt hindering the company’s hiring efforts. Learn how we resolved this issue by downloading the full case study below.
download the full case study
Download our tech salary case study today to learn more about how our Randstad team helped this utility company:
- increase the size of its potential talent pool
- attract more qualified applicants
- improve hiring outcomes