The interviews are done and you know who you want. Your next step is presenting a package that top accounting talent can’t refuse.
Many companies make the mistake of putting themselves through the rigorous process of recruiting the perfect candidate only to lose them at the last minute with a poorly presented salary package. Here’s our quick guide to make sure you don’t miss out at the last hurdle.
What is the market rate for the role? Make sure you understand what your competitors are offering. Consultants at Halliday Marx can help you with this and provide additional industry specific information that will influence your offer. Demand, competition, location, industry and candidate experience need to be considered. Halliday Marx consultants also work closely with their candidates to understand salary expectations, what they are looking for and where they are in their search for a new position. Understanding this information before you present an offer is vital, good candidates will have a lot of options.
At this point in the recruitment journey you need to think about the candidate’s aspirations and motivations. You can then tailor the package towards their career needs. Are they more likely to accept if you offer flexible working? Alternatively, if they have expressed a desire to progress quickly make sure you highlight opportunities to advance within your organisation. Reassure your candidate that they will be involved in strategic discussions and planning sessions. It is important that you connect with your candidate so they feel your company is the right cultural and aspirational fit. Asking your recruiter for candidate feedback is really important in shaping this discussion.
From joining bonuses, to a day off for your birthday, company benefits are a top consideration for candidates. Many accounting professionals want more than just a basic salary so it is paramount you communicate any non-financial benefits. Employers often underestimate how much these additions can influence a candidate’s decision.
In order to separate themselves from the competition employers are getting more and more adventurous with their perks. This ranges from offering one year fully paid maternity to allowing employees to bring their dog to work. This is a real opportunity to promote your brand.
• Health Plan
• Season Ticket Loan
• Study Package
• Training and Development Days
• Company Car Schemes
• Extended Maternity Leave
• Discounted Gym Memberships
• Retail Discounts
• Free Lunches
Whilst soft benefits can certainly set you apart from competitors they can also be extremely costly. Have a think about additional perks such as job-sharing, working from home, varied job assignments or taking part in local community events. These can be attractive to candidates and are cost effective.
In conclusion, understand where your job and its respective benefits fit in the market and present the best package first. Renegotiations don’t tend to go well and you will risk negatively impacting your brand. Think carefully about what you can afford from the outset. Do you really need this level of candidate for the role? Putting high calibre accountants through a recruitment process to then offer a package that doesn’t match up will create frustration and bad press.
Be honest from the outset. Understand the candidate’s career aspirations and make sure your offer measures up. This doesn’t mean a complete re-evaluation of the position. It’s about ensuring you highlight the elements that enhance their aspirations.
Finally, remember it’s not just about great salary. Don’t forget to present your non-financial benefits to win your dream candidate. Creating a salary package to attract top accounting talent can be challenging. Contact us at Halliday Marx for support and advice.