CFOs willing to negotiate salary with top candidates
Top candidates can be hard to find, so when the perfect person applies for a role businesses need to be quick to take them off the market.
This could be why chief financial officers (CFOs) in a new survey are more willing to negotiate starting pay. Based on interviews with over 2,100 CFOs, recruitment experts Robert Half Management revealed 41 per cent are more open to remuneration discussions before employment than during the same period last year.
In addition, just 9 per cent are less willing than in 2014 to talk money before a contract is signed.
What the survey highlighted in more detail was the fact that many businesses aren’t even able to negotiate payment terms with new candidates due to struggles in finding the right talent in the first place.
The same CFOs were asked how hard it was to find skilled candidates for professional-level positions in today’s market. Over half (53 per cent) said it was “somewhat challenging” while 15 per cent noted it was “very challenging”.
On the other hand, 31 per cent regarded the recruitment process as “not challenging” and had no trouble attracting and finding their next employees.
Paul McDonald, senior executive director for Robert Half said that these results show how important the recruitment process is and why businesses need a robust system in place.
“Companies recognise they have growth opportunities in front of them, but many are struggling to find the skilled people they need to make that growth happen,” he said in a January 15 media statement.
“The hiring environment is very competitive. Employers must move quickly and efficiently through the hiring process, while still taking special care to not skip any steps along the way.”
One way to improve the recruitment process is to implement HR management software. Human resource staff can easily manage external vendors and advertising, which in turn frees up time to concentrate on other areas of the recruitment process.