Do you include salary information in your Job Adverts? If not, we get it, there are plenty of risks associated with doing so.
It can make you more vulnerable to competitors, can produce salary talks among employees, and provides you with less opportunity to negotiate the right salary.
But, have you considered any of these benefits before? They may persuade you otherwise.
1. Improves the Candidate Experience
Something we’re all aiming for, right? Well, this is what job seekers want to know. It’ll come out eventually so why beat around the bush? If it doesn’t come from you, a close enough figure will be produced on sites like Glassdoor in any case. At least transparency improves the experience by setting the candidates expectations from the very start.
2. Produces Higher Applications Rates
If you want to be competitive, this is certainly a way to do it. At the end of the day, this is one of the main pieces of information a candidate wants to find out when applying for a job, so, if you are willing to put an attractive offer on the table, it will certainly persuade more candidates to apply, especially when others aren’t willing to.
3. Reduces Drop Offs
Adverts without salary information can experience more drop-offs at a rate of around 20-30%. This is because candidates may choose to pull out deep into the recruitment process when the details are finally revealed, taking up a lot of stakeholder time in the process. Instead, by publicising that information on the advert from the start you set clear expectations from the get-go.
4. Proves Ethical Commitments
Transparency around your company policies, behaviour, and performance is a way of proving your commitment to your ethical strategies. So, if you are truly passionate about illustrating them further, showing how your business is committed to fair pay is certainly an option to consider.
5. Entices Millennials
Salary is far less taboo among millennials. They’re more likely to exchange that information with their family, friends and even colleagues despite traditional constraints. Taking this into account, including salary information in your job adverts may make your adverts more attractive to this valuable market.
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