Salary Expectation – to be or not to be a part of the Talent Sourcing Process
Talent Sourcer: So, what is your current compensation? How much are you expecting from this job opportunity?
Umm, a minute’s silence in between!
The candidate’s brain is number crunching, gathering all information about the market, thinking of a percentage that leaves them scope to bargain later!
Candidate: I am expecting a 60-70% hike on my current salary.
Now, that is clearly an overhyped and random hike asked for! But is it the candidate’s fault? You caught them off-guard. They were really not ready for this conversation in the first or too initial stage of the conversation!
And this is just one of the reasons we do not recommend you to keep Salary Expectation the part of talent sourcing. Keep reading for more reasons not to do so.
1. Know the difference between Talent Sourcing and Recruitment!
Talent sourcing is about finding and engaging prospective candidates for a job opening. The goal is to identify qualified candidates and then generate enough interest in the position that they want to learn more and eventually apply for the job. Talent sourcing is a pre-recruitment process, so it’s important to avoid discussing compensation at this stage. Compensation discussion should be reserved for when a recruiter is talking to a candidate who has already expressed interest in the position and is further along in the process. Asking candidates their salary history at the sourcing stage doesn’t make sense and can unnecessarily turn off otherwise qualified candidates. Therefore, avoiding the salary talk altogether makes sense at this early stage in the recruiting process.
2. Don’t lose your negotiating power
Many employers ask about salary history early in the talent sourcing process, but this can actually make candidates feel unassured about compensation. It is better to first interact with candidates and gauge their potential before discussing salary. By doing this, you can show candidates that you are interested in them as individuals, not just their salary history. This will help to build rapport and trust, which are essential for any successful business relationship. Asking about salary history too early can also make candidates feel like they are being treated as commodities, which is not an ideal way to start off a working relationship. If you want to attract the best talent, it is best to wait until you have established a good rapport with candidates before asking about salary history.
3. Avoid getting your candidate poached by a competitor
It’s no secret that salaries are often a touchy subject. For many people, talking about money can be taboo and downright uncomfortable. When it comes to the workplace, salary negotiations can be even more fraught with difficulty. This is particularly true when employers begin asking about salary history during the hiring process. For many candidates, this feels like an attempt to lowball them and may cause them to choose another company that is more upfront about compensation.
4. Last, but not the least, Your candidate might just over-quote at the moment
Most people understand that, when it comes to negotiations, it’s important to start high. This gives you room to come down, while still getting the salary or benefits that you want. However, when it comes to job interviews, many employers make the mistake of starting with their bottom line. They think that they can save time by getting right to the point, but all they’re doing is putting candidates on the defensive. When asked about their salary expectations, most people will quote a higher number than they’re actually willing to accept. This puts the employer in a difficult position, as they may end up rejecting a good candidate because their expectations are out of line with the budget. It’s important to remember that salary is just one part of the equation!