To Hire Top Talent… you need to be Competitive in Compensation
February 20th, 2015As the economy continues to slowly recover after the Great Recession, the job market is getting more competitive. So companies can’t assume they can lowball any candidates for their open positions, as the competition might be offering a higher salary and a better benefits package.
In short, if your company wants to employ the best talent, you need to make sure your entire compensation package stands out from the pack. Here’s a closer look at what to do.
Explore the Average Salaries in your Area by Position
To get a better feel for what current salaries your competitors are offering their candidates, take the time to explore various salary surveys for your local region as well as the country as a whole — taking into account cost of living differences in the latter case. Armed with this information, you can work with your company’s HR staff to come up with an accurate salary range for each position at your organization.
Competing for the Top Candidates in your Sector
When a candidate with an educational background and work experience that are off the chart applies for a position with your company, you need to take into account the potential competition for their services. Is it someone only interested in the Houston area, or are you competing with firms across the nation? Use that information when determining a salary offer for this candidate.
Don’t forget your Benefits Package and Company Culture
Building a fun and productive corporate culture also helps distinguish your firm when it comes to convincing the top notch talent to work for you. Combine a great company culture with a superior benefits package that includes tuition reimbursement as well as generous PTO policies and your organization won’t have a problem attracting the best employees.
When searching for a partner to help you attract the best workers, look no further than PrideStaff Houston. As one of the top staffing agencies in the Texas area, we maintain a healthy supply of vetted, professional candidates suitable for a multitude of positions. Make it a point to meet with us today!