How to Negotiate terms – Even in a candidate led market

9 February 2022

You will doubtless already be all too aware that for many industries and sectors, including IT and technology, there is currently a candidate led job market. Simply put, this means that the number of suitable candidates available for any vacant position are far outstripped by the volume of roles to fill, and, naturally, this places the job seeker in a very strong position. After all, if a vacancy isn’t able to offer all of the benefits or scope for career progression that the applicant is hoping for, they can pass on the employment with little worry, safe in the knowledge that there are plenty more opportunities to be had, and employers keen to take steps to attract them.

Remember your Needs

In dealing with a candidate led market, it’s tempting for those recruiting to grasp at any applicant who wants to join the team, but this can be a costly mistake. Never allow your urgency to fill a position to cloud your judgement when making an offer: in the long run, holding out and waiting for the right individual will
be more beneficial to your business. It is important to recognise that it’s not just the candidate who has power in this scenario. As an employer, you will have options to hire professionals only when they meet your essential criteria, rather than the other way around.

The Key to Negotiation

That being said, there a number of key areas to consider when looking to hire in a competitive candidate led market. Naturally, salary will be a significant factor in any employment offer that your firm makes, but it’s essential that you have a clear picture of the remuneration that you’re happy (and able) to pay.

Whilst this salary should be reflective of the range offered for comparable roles across the industry, it’s vital that you don’t offer too much with the aim of securing the talent you need. If candidates ask for a salary that exceeds the going rate, don’t be afraid to say no: these individuals will face the risk of pricing themselves of the market through over-inflated expectations. It’s also vital to remember that other benefits can be as attractive as a higher salary band, such as the option of flexible or remote work, great in-house training or career opportunities, sustainable workplace initiatives, and a demonstrably positive working culture. If you can successfully brand your organisation as an attractive place to work, with a strong ethos and vision, you can elevate your chances of filling your key vacancies with the right talent.

Get the Recruitment Process Right

To achieve the best possible results, it makes sense to plan for any hiring drive. This can not only save valuable time and money, but can also be appealing to candidates, who are likely to be discouraged by a protracted recruitment process. Keep communicating with applicants at every stage, and try to schedule the interview process to a single day (far more convenient for professionals who may need to take time away from their current role in order to attend). Not only does this avoid unnecessary repetition of questions, but this efficient approach also helps to cut down the crucial time-to-hire period.

Working with specialists in recruitment can be a smart way to ensure that the process is handled smoothly and effectively. At RMG Digital, we can provide the ideal solution for your organisation’s needs. From developing a recruitment strategy that meets all of your objectives to handling the interview process and facilitating a great onboarding service, RMG Digital are a proven powerhouse when it comes to matching businesses with the talent they need.

Why not get in touch today and discover how RMG Digital can deliver your ideal hiring solution.