Freedom to be able to work in a pajamas once in a while
You obviously want top talent to join your team, but what if you don’t have a juicy paycheck to offer? Simply compensate lower salary with better benefits
Supposedly it’s been a few years since you joined your company, and as a hiring manager, you need to increase the headcount, now that the company is growing in size.
The size of the company might be relatively small if you considered the business scenario before few years. But, with time, the company has developed some brand value that has established some traction in the market and has got some of the vital projects that could advance the company’s growth to a whole new level.
If your company is in a good shape, the cash flow is adequate; it is a great time for bringing new hires. The business is burgeoning, and there cannot be a better time to recruit great talent, which will distribute the workload.
Either you start involving in the hiring process or you reach out to some of the recruitment agencies to fill the positions. Within a few days, you will have a pool of candidates to shortlist from. You can conduct a telephoning interview with the potential candidates and shortlist some who you think are good enough to appear for the face-to-face interview. You just give them a brief idea about your company and the salary range that you can offer. But on the day of the in-house interview, you come to know that a significant number of candidates dropped out after the telephonic session. When you inquire about the reason, recruiters inform you that the salary range mentioned in the offer is falling short of candidates’ expectations.
Such a disappointment! Quite a few applicants were a good fit for the job and even said that they are willing to work for a dynamic and growing company as yours, but they didn’t turn up for the interview. You are in a catch-22 situation; there is no chance that you can increase the pay as it would be unfair to the existing employees who are working at the same position. Also, increasing the budget would not be fine when your company is still growing.