The Job Offer: It’s More Than a Salary
You selected the perfect candidate, and after you review their qualifications it is time to make them a job offer. As confident as you are that this is the right candidate for the job, the salary that you are offering may not meet their expectations; as a result, you need to be prepared to sell them on the benefits your company offers.
401k Contributions: While salary is important, many millennials are thinking about their financial stability outside of their paychecks. One way that they are choosing to ensure this financial stability is through choosing to work for companies with generous 401k options. If your 401k matching package is competitive, you will definitely want to mention that during your negotiation process. Your goal in this conversation should be to explain the how working for your company would be an investment in their future.
Health and Wellness Packages: When you are discussing the job offer, make sure to focus on the health and wellness packages that your company offers. The potential employee will want to know what insurance your company offers, the cost to them, as well as if you company offers medical, dental and vision insurance.
Perks: Does your company offer any perks? If it does, make sure they are discussed when you offer the candidate the position. Although benefits like gym memberships may seem trivial, they show employees that you value their health and wellbeing. Successful companies like Amazon and Microsoft are notorious for providing their employees with perks that keep their employees happy.
Vacation Days/Paid Time Off: Consider what you know about the candidate through their interview, resume, and your social media research. Did you notice that they enjoy traveling? Are they enrolled in classes that they may need to take time off to study for? In these instances, vacation/paid time off may be enough to sway them to work for your company.
Career Development Opportunities: It’s important to mention career development opportunities when you make a job offer. These opportunities can range from sending employees to seminars to advanced training outside the scope of their position. These types of development plans will help your candidate realize that the company wants to invest in their career.
Company Growth: Explaining the higher potential for growth that results from new positions in your company can encourage candidates to think twice before accepting or declining your job offer. By accepting your job offer, they are positioning themselves to receive job opportunities that wouldn’t be available with companies that aren’t growing at the same pace.
Schedule: Even something as simple as an employee’s schedule can be viewed as a benefit. A flexible schedule, ability to set their own schedule, and the freedom to work from home are selling points to most job candidates. If your company doesn’t offer options in these areas, you will want to focus on how the schedule that your company follows benefits your employees. For example, if your company has a set schedule, it is easier for employees to have a healthy work/life balance.
The next time a candidate is hesitant to accept a job offer based on salary, make sure to review the other types of compensation they would be receiving by working for your company.