Red Seat’s Post

Offering the right compensation is crucial to attracting qualified candidates. A mismatch between the job and its pay can lead to unqualified or overqualified applicants. Aim to provide a compensation package that aligns with market rates. Balancing fairness for current employees with attractiveness for potential hires is key. If your budget doesn't allow for competitive pay, consider adjusting the position level, duties, remote work options, or criteria to widen the applicant pool and attract viable candidates. Get your compensation right to drive quality applicant traffic and reduce time-to-hire. 🚀 #HiringTips #MarketRate #AttractTopTalent

Offering the right compensation is crucial to attracting qualified candidates. A mismatch between the job and its pay can lead to unqualified or overqualified applicants. Aim to provide a compensation package that aligns with market rates. Balancing fairness for current employees with attractiveness for potential hires is key. If your budget doesn't allow for competitive pay, consider adjusting the position level, duties, remote work options, or criteria to widen the applicant pool and attract viable candidates. Get your compensation right to drive quality applicant traffic and reduce time-to-hire. 🚀 #HiringTips #MarketRate #AttractTopTalent

As Q1 headcount budgets are approved, organisations in the UK are gearing up for recruitment. To entice top talent, it's vital to optimise hiring strategies and candidate experiences. According to recent survey results, professionals cite salary as a top motivator, with 62% of respondents indicating they move due to inadequate compensation. Additionally, nearly half of job seekers have declined offers due to unprofessionalism from interviewers or hiring managers. Companies' brands suffer from slow processes, too many interview rounds, and lengthy decision-making processes, all of which negatively impact candidate experiences. Interestingly, 50% of employees are willing to forego pay raises in favour of flexible working patterns, typically in a hybrid model. When considering new opportunities, candidates prioritise salary, career growth, and meaningful work.

Companies should clearly specify the pay scale and benefits offered for the position only mentioning market competitive isn't enough. This transparency not only helps candidates apply for roles that align with their expectations and needs but also fosters trust and reduces the time spent on unsuitable applications. By providing this information upfront, companies attract the right talent and improve the overall efficiency of the hiring process. #JobTransparency #HiringProcess #EmployeeBenefits #CareerOpportunities #TalentAttraction #JobSearch #WorkplaceCulture #RecruitmentStrategy #EqualOpportunities

In Canberra, we are no longer seeing a candidate-driven market, and instead are starting to observe competition for open roles. The market has been volatile due to the change in government, crackdown on consultancies and the Defence Strategic Reform.   Here at Talent, we’ve just released our More Than Money Salary Guide for 2024 which goes way beyond the numbers to provide you with exclusive insights on the Canberra tech hiring market.   Find it here - https://lnkd.in/g8pddZhn #MoreThanMoney #SalaryGuide #TechJobs #ITjobs #HiringMarket #TechTrends

$10,000 difference between offer and acceptance...which costs you more? When companies bicker over minor discrepancies in compensation, they often overlook the bigger picture. A vacant position can lead to significant losses that far exceed that initial amount. Consider these impacts: 💡 Lost Productivity: Work stagnates, delaying projects and goals. 💡 Team Morale: The remaining team feels the strain, leading to burnout and disengagement. 💡 Increased Hiring Costs: The longer the position is open, the more you spend on recruitment and overtime for existing staff. Enter the Executive Recruiter. An experienced recruiter can help you navigate market realities, ensuring you find and secure top talent without the unnecessary back-and-forth. Here’s how: 💼 Market Insights: Recruiters have access to up-to-date salary benchmarks and industry trends, helping you make informed offers that attract the right candidates. 💼 Candidate Fit: They specialize in understanding both your needs and the candidates', ensuring alignment in skills, culture, and expectations. 💼 Streamlined Process: By managing the entire recruitment cycle, they reduce the time a position remains vacant, saving you money and keeping your team focused. Investing in the right recruitment strategy not only fills positions faster but also builds a stronger, more cohesive team. Don’t let a small number define your hiring decisions—partner with an executive recruiter to secure the talent that will drive your business forward!

𝗧𝗵𝗶𝗻𝗸 𝗹𝗼𝘀𝗶𝗻𝗴 𝘁𝗼𝗽 𝘁𝗮𝗹𝗲𝗻𝘁 𝗶𝘀 𝗲𝘅𝗽𝗲𝗻𝘀𝗶𝘃𝗲? 𝗧𝗿𝘆 𝗿𝗲𝗽𝗹𝗮𝗰𝗶𝗻𝗴 𝘁𝗵𝗲𝗺. 💸 Here’s why... 1️⃣ Recruitment fees 💸 - Agencies charge 15-20% + of the new hire's salary. That’s easily £10,000+ for mid-to-senior roles 2️⃣ Lost productivity 📉 - UK businesses lose around £25,000 per employee just in the transition period. 3️⃣ Time to productivity ⏳ - It takes an average of 28 weeks (about 7 months) for a new hire to fully ramp up. 4️⃣ Total cost 💷 - Replacing a skilled employee could cost you £30,614 - and for senior roles, up to £100,000 (CIPD). 𝗧𝗵𝗲 𝘀𝗼𝗹𝘂𝘁𝗶𝗼𝗻? Pay people what they’re worth. Losing someone great could cost you 1.5 to 2x their salary, and that’s not even counting the knowledge and relationships they take with them. 𝗕𝗼𝘁𝘁𝗼𝗺 𝗹𝗶𝗻𝗲? Investing in your top talent is the best financial decision you can make. So, the question isn’t whether you can afford to pay them more. Can you afford not to? 𝗧𝗵𝗼𝘂𝗴𝗵𝘁𝘀? 👇 Please repost if you think someone needs to see this ♻️ #talent #careers #salary #employers

Have you ever thought about the true monetary cost of hiring the wrong person? For the average UK salary, a wrong hire equates to a whopping £59,000 …. But this figure doesn't include - Lost productivity Or Repeat recruitment costs Or time invested Let alone the negative and unsettling impact it has on the team and their moral. And how about making the hire that our guts told us not to, but we had to put a bum on the seat to try and make work. Your gut feel is always right, remember the phrase 'Rather a hole than an a**ehole', it will save you lots of hassle and ££. Can anyone in my network share any experience on what they've done to mitigate this, or even better, any tales of woe that we can all learn from? #talent

Have you ever thought about the true monetary cost of hiring the wrong person? For the average UK salary, a wrong hire equates to a whopping £59,000 …. But this figure doesn't include - Lost productivity Or Repeat recruitment costs Or time invested Let alone the negative and unsettling impact it has on the team and their moral. And how about making the hire that our guts told us not to, but we had to put a bum on the seat to try and make work. Your gut feel is always right, remember the phrase 'Rather a hole than an a**ehole', it will save you lots of hassle and ££. Can anyone in my network share any experience on what they've done to mitigate this, or even better, any tales of woe that we can all learn from? #talent

In the ever-evolving job market, transparency is more critical than ever. One area where transparency can significantly impact the recruitment process is in salary scales. By clearly stating compensation details, recruiters can attract candidates who align with the role’s financial parameters, reducing the risk of misaligned expectations. This openness not only builds trust and enhances a company’s credibility but also streamlines the hiring process by minimizing negotiation discrepancies. When this could be easily asked “ it would be merit if you have this and this skills”, mentioning an approximate salary range in the job post would have more impact. Embracing salary transparency is a win-win for both employers and job seekers, fostering a more equitable and respectful recruitment experience. Let’s advocate for greater openness and benefit both for employers and job seekers alike! #Recruitment #Transparency #SalaryRange #Hiring #JobMarket