In a world where things are changing rapidly, Talent Acquisition professionals face many challenges such as finding purple squirrels, trying to overcome high turnover rates, appealing to Talent looking for culture fit, retaining Talented folks and managing higher compensation demands are some of the many scenarios they encounter and handling them is another hassle.
Fortunately, we @SourcingAdda realize this change and are focused on providing possible ways to overcome such challenges and thanks to one of our Bangalore group member’s Champa’s suggestion to discuss, How to manage higher compensation demands of candidates? we are able to be of some assistance.Therefore, we’ve provided the conversation hereunder for your review…
Talent Acquisitions encounter various types of candidates on a regular basis and dealing with candidates can be difficult especially when they ask for higher compensations that are unrealistic and are adamant about the compensation. So how does one tackle such candidates is what was addressed in the conversation above. Many practical alternatives were mentioned like mapping out your competitor’s company salary their company salary and the candidates’ current CTC to get an idea as to whether the compensation asked is reasonable or unreasonable. Moreover, you can add different types of compensations as incentives to attract the desired candidate and get them to join your company like providing Restricted Stock Units (RSU), Employee Stock Purchase Plan (ESPP), Employee Stock Ownership Plan (ESOP), Hiring, Attendance, Sign-On or Signing Bonuses that can improve the Joining ratio. Other aspects like the skills that you are acquiring from onboarding a prospective candidate is another aspect to consider where compensation is concerned. If the purple squirrels you are onboarding are multi-talented folks or exceptional ones and stable as well then shelling out that extra cost seems worth your while and quite reasonable.
Therefore, focusing on the aspects mentioned in the discussion can help you make a better hiring decision that can add to the company’s growth and meet the firm’s ROI. If the candidate is still not convinced then knowing How to handle Offer rejects, Client Feedback & Passive Candidates? It can help you deal with different types of candidates and also land some of them as a successful hire at your firm. Based on the inputs shared I think it’s safe to say that the discussion was informative and we are certain that you’d like to know how you too can contribute to these discussions. So here’s what you can do right now in 2 simple steps, namely¦
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