Is this a good time to get employees on sale?
Since everything in our world seems to be “on sale” right now, many clients are wondering if they can get their staff vacancies filled for less than they were planning to pay. There are certainly record numbers of people looking for work, and that would seem to make it an “employer’s market.” But those of us who spend our time searching for top talent know that the job of sorting through double or even triple the number of applicants only makes the search harder, not easier.
Is this a good time to get employees on sale? The answer is yes…and no. It depends.
Certainly an employer can offer less than what they would normally pay and because of the current economic climate, the candidate might just say yes. Keep in mind, however, that talented people are still going to get multiple offers-so it is wise not to low-ball too much. But how about taking advantage of the economy in an entirely different way when it comes to hiring? Try this: use the solid track record of your company and the security you offer to attract talent you would normally not be able to get. Candidates today are extremely focused on “security items” like health care, the company’s long-term plans, treatment of employees, etc. If your company can offer some sense of security to potential employees, you might be able to attract a higher level of talent than you could have before the downturn-and that just might be worth more than getting the “usual” person at a lower rate.