by Beverly Aarons
29. July 2009 08:42
If you're a recruiter working effectively in the current marketplace, then you've been fortunate enough to land some very high quality candidates and snag the interest of employers who are still hiring. But what you may have noticed is that some of the top candidates still want to negotiate compensation before taking an offer even if the additional compensation is insignificant. Negotiation is not necessarily a bad thing; but it may be unwise to negotiate if the compensation offer is at least close to what the candidate is looking for, here's why:
1. There are a lot of high quality candidates looking for a legal job in a market that has shrunk significantly due to the recession. If your candidate doesn't accept an offer relatively quickly the employer may offer the position to another candidate causing a loss to you (as the recruiter) and of course to the candidate.
2. The increased salary may not be worth the cost, especially if the additional income is only a slight increase over what the employer is currently offering.
3. If the candidate asks for a change in the compensation package it must go through the approval process again and may be rejected especially in the current financial environment.
Recruiters need to remind candidates that when assessing the worth of a job they need to look at the compensation over a three-year period, promotion opportunities, non-cash benefits (healthcare, life insurance, 401K matching etc.) and opportunities for general career advancement and training. Make sure that you educate your candidates about possible compensation and their expectations before you're at the negotiating table, it could save you a placement.