Source | LinkedIn : By Sumant G
Recruitment is an art right from CV sourcing to closing the deal. At every stage of the recruitment cycle you are expected to perform your art at the best. It’s an art because we deal with the most intelligent beings and any particular mechanism or pattern to deal with them won’t work for long. Each individual is different and the way of dealing with them should also be different. In addition, the art is how differently you can deal with them with the similar set of information. Below are the few sets of information which I believe one can follow to enhance their negotiation skill.
Budget: – Before starting the negotiation, it is very important to understand the maximum limit of the budget and other benefits provided by the company; it will keep you in a decent position to negotiate. It is absolutely fine if you have to decline a good candidate because of the limited budget. It will still help you to save a lot of time.
Know candidate’s salary and other details: – It is very important to understand the candidate’s recent salary and other benefits so that you are in a better position to negotiate the salary. Candidates tend to use their benefits as a secret weapon which might break your negotiation flow. It is very important to knowing their salary package well for an effective negotiation.
Company Benefits:- What some candidate conveniently don’t want to understand is that the Company Benefits i.e. Number of Annual Leave / Medical Leave, Medical / Insurance, Transportation, Mobile bill, Accommodation etc. are all part of the salary package. Some candidates tend to focus only on basic salary when they negotiate. As a recruiter it’s our duty to make them realize that the other perks / benefits apart from the basic salary are also part of their salary. If candidate’s current benefits are more or less than the benefits which have been offered to them, it will affect their basic salary as well. For example, if the candidate is a contract employee with very basic benefits and has been offered permanent role with standard benefits, as a recruiter we should make them realize that even with no salary hike or with marginal hike, they are actually getting a decent amount of hike if he or she consider their benefits and convert it monetarily. Moreover, permanent job will give them job security and mental peace which cannot be compared with other alternate things.
Negotiate lesser: –Always target at a lower salary than your budget during your initial negotiation. It’s always better to promise less and give more. In such scenarios you have earned the candidate’s trust and also the possibility of the candidate to back-out becomes lesser.
Negotiate but don’t negotiate: – While you are trying to negotiate with the candidates, you should not make it so obvious that you are trying to negotiate with them. They should not feel pressurized with your negotiation.
No Competition: – Salary negotiation is not a competition where one has to win. Both the candidate and employer will be at the losing end if either one of them are trying to compete with each other on who has won the negotiation.