The bargaining table: securing your ideal candidate
Ready to make a job offer to your perfect candidate? Prepare for push back. Today’s top candidates are confident negotiators and it will take more than a competitive salary to entice them into accepting your contract.
Our latest research, Understanding Talent, polled more than 3,000 jobseekers and 100 employers. It revealed more than half (57%) of jobseekers are confident ‘within reason’ to negotiate terms of a job offer.
From a candidate’s point of view, the days of simply being offered a good salary and pension scheme are long gone. Today’s jobseekers, particularly millennials, are equally motivated by achieving a work-life balance, taking care of their health and developing their careers.
So how can employers navigate the precarious stage between job offer and acceptance, and ensure they bring the best talent on board? Securing the best talent is increasingly coming down to how well you can appeal to the individual. Since each candidate is motivated by different things, the best way to appeal to them is by offering benefits.
Here are the top 10 benefits that employees want:
Annual bonus (42%)
Flexible working/working from home (32%)
Learning and Development programme (30%)
Private healthcare (21%)
Money for training (16%)
More than statutory holiday leave (14%)
Car allowance (14%)
Unlimited holiday allowance (8 %)
Knowing that candidates value employee benefits is a great start, but 74% of employers don’t allow employees to select their own benefits package during hiring negotiations. To secure the best talent in this competitive market, it makes sense to offer flexible benefits from the outset.
Instead of laying out all your cards, think like your candidate as you prepare to offer a flexible benefits package. If you know that someone is concerned about a lengthy commute, the option to work from home a couple of days each week could be what motivates them to accept your offer above others.
Similarly, rather than offering a 20-year-old share options, why not look instead at gym membership and private healthcare – benefits that would be far more appealing and attractive at this stage of their life.
To find out more, read the third report in our Understanding Talent Series, Hiring Top Talent below.