Evaluating a Job Offer
Business owners have a lot to consider and prepare for when it's time to hire employees. An often overlooked consideration is how to attract the best candidates. Employers need to have job offers that stand out from the competition just as job applicants have to be able to stand out from the crowd. Today, few people stay with one employer until retirement. Many working Americans have become very adept at comparing job offers in order to find exactly what they're looking for. Employers need to view their job offers through the eyes of an applicant. Scrutinize your offer and make sure you clearly communicate what you're offering in order to find the right candidate. You can find the right people for your organization by reviewing some basic aspects of your offer.
How does the pay stack up?
What if the pay rate you're offering is lower than candidates expect? Make sure you communicate how frequently there will be performance reviews and/or pay increases. Also indicate if there are any incentives available that create extra earning opportunities. To fully evaluate the pay being offered, compare it with the average pay of others working in the same field. You can do this by talking to others who hold similar jobs, calling a recruiter (i.e., a headhunter), or doing some research. The Bureau of Labor Statistics is a good source for this information.
Bonuses and other benefits
What about bonuses, commissions, and profit-sharing plans that can increase total income. Express what benefits the company offers and how much they will cost an employee. Don't overlook the value of good employee benefits. They can add the equivalent of thousands of dollars to base pay. Offer a look at the benefits package available to new employees. Also, emphasize all opportunities that exist for moving up in the company. This includes explaining what the company's goals are and the type of employee that the company values.
People will love working for you
Other than the opportunity to earn money, what else do you offer? Do you have projects that will require a lot of overtime? Is your scheduling somewhat flexible? Do you offer any perks like lunches, parking or work from home days? Also, take a look at the company's work environment. Ask friends, family and colleagues to give their thoughts on your office space. Would they like to work in your office? What would they like to change? Ask them to be very honest and critical and strongly consider any recommended changes. Try to make your space inviting and energizing to new and prospective employees and let applicants know they're in for an exciting, enriching and engaging work experience when they join your team.