Five Reasons Why Disclosing Salary Is a Good Idea
By Margaret Hansen
Even if you're open to a wide range of candidate experience, chances are that you have a preferred range that would fit best within an existing team. Along with that preferred experience range comes a salary range. Disclosing it is often the best method for recruiting the right people. Here's why...
1. It Will Save Time
The recruiting process is timely and expensive for all parties involved. Resume reviews, interviews, decision-making and follow-up - despite their importance - eat up precious staff time. Avoid doubling or tripling that expense by pre-screening those not interested in your salary range to begin with. You aren't going to sell this group with your fancy perks.
2. It Shows Respect
Getting them hooked on your friendly staff and fun work environment only to disappoint them later with a jaw-dropping, lower than expected salary is no way to treat a potential employee. You'll earn loads more respect if you advertise your salary range up front, showing that there's nothing up your sleeve and that you respect people enough to be honest about the job. They won't waste their time interviewing if they don't like the salary.
3. It Alleviates Fear
Today's job market breeds fear and insecurity. Risk-averse job seekers are looking for a sure thing. Help quell some of that by extending an olive branch. By being upfront about salary range, you could be the safe harbor that prime candidates turn to and stick with in such uncertain times.
4. It Matches the Job
Since you're telling what your company is willing to pay for a certain set of skills, don't forget to describe the skills - in detail. Being too vague will attract unqualified resumes. By describing exactly what is expected of this candidate as firm requirements, salary will logically relate to this.
5. It Makes a Cleaner Budget
Stating it makes it non-negotiable. You'll be right on target for your budget and won't have to worry about going over - or under, for that matter. In a year of tight budgets, unspent budget money tends to disappear the next year and overspending means something is off the list for this year.
Just as you are looking for the right fit for a position, job candidates are also looking for the right career. Salary plays a big role in that choice. Paint the complete picture with a salary range and reap the benefits of getting the right people on board for the long-term.