Effective Employer Negotiation Techniques For Compensation And Benefits

Making a job offer to a candidate is all about balance and here at aspire cambridge we believe you need to make them an offer that makes both you and your candidate feel valued and fairly compensated. Compensation and benefit negotiations include careful planning, lots of thought and high-level strategy and in this article we will be giving you tips, techniques and pointers to help you effectively negotiate compensation and benefits for your potential new employee;

Consider Salary Ranges

It is important that you take the time to look at private survey sites like Glassdoor or government resources to determine the salary requirements so you know that the salary you are offering is fair but you also know an area of expectations for salary negotiations too.

People Come First

Remember when you make a job offer the candidate will not just be looking at the salary but also the job, the company and the benefits of working for your business. When it comes to negotiations you need to put people first and numbers second while thinking about how you can appeal to what your candidate really wants and needs from a job with your company. Try and create a package that makes both you and the candidate feel good; this could include compensation, additional days off, health benefits, flexible working or similar. Don’t be afraid to ask the candidate and existing employees what benefits appeal to them and what they are looking for in a compensation package so you can find out what your ideal candidates really want. You don’t need to focus solely on the salary as there will often be many other things that candidates want from their future job role, not just money.

Don’t Be Pushy

When you have made a candidate a job offer and been through the negotiation stage discussing compensation and benefits make sure you are not overly pushy. Make the best offer you are comfortable with making and then give the candidate time to consider the offer. A great way of doing this is to say “I know this is a lot of information to take in all at once, so feel free to have a think on it and we can re-connect in a few days to see what you think” as this then gives the candidate that breathing space they need and they will respect you for it.

For Best Negotiation Results

For the best negotiation results firstly determine the interests of the other party; embrace compromise and ensure that you treat the candidate as you would wish to be treated yourself. It is important that you are fair and reasonable to the candidate and avoid being defensive but most importantly make sure you are prepared.

If you would like more help with your negotiation techniques for compensation and benefits then feel free to contact our team of experienced recruitment consultants in Cambridge on 01223 855440; they will be only too happy to help.