Throughout the hiring process, you’ve listened carefully and noted what really motivates your top candidate, you’ve built a detailed picture of their needs and wants from their next position, in short you are ready to make an offer. Now to seal the deal!
There are a few ‘golden rules’ to successfully negotiating the right package. The most important is to understand that, with any human-human interaction there is unpredictability and a sprinkle of good luck involved.
Present your company, benefits and corporate attributes in an energized, positive way. Emphasize those aspects that particularly appeal to your candidate and don’t leave anything to interpretation. Listen and listen well to their personal training & development wish list, which will not necessarily be formal training, but the opportunity they seek from challenges offered in the role. Reflect that in what you present to them and how you paint the picture of their first year in the organization.
As for the monetary offer, this market is dynamic. It is a very different place than only one year ago – what was a competitive offer then won’t necessarily be impressive today. And the final offer stage is no time to nickel and dime.
Be prompt, if there’s agreement amongst the hiring team, act immediately. Give your candidate time to reflect, but absolutely set a timeframe in which to do that.
Reflect on any issues or hesitations raised, be flexible and be creative! If a budget is fixed or at its upper limit, think of other incentives or present a concrete development plan that will take the candidate to where they want to be in a fixed time.
Most importantly, have a back-up plan. Working in partnership with a recruitment firm like C.O.I., you will know you have a team behind you ready to provide other possibilities and that gives you a confidence that will permeate the entire process. Psychologically it engenders confidence on the candidate side of the desk too.
And finally, may a little good fortune be on your side and the deal will be struck!
By Rowena McAllister