You’ve found the perfect candidate. The right blend of experience, enthusiasm and attitude, and they are not only ready for a career move, they believe that yours is the organisation to take it with.
Then you ask about their salary expectations. They mention the figure they are on, and what they would expect in the new role.
That’s where things can go pear-shaped. The budget you had assured everyone would be more than adequate for the new joiner is less than they are earning now. You could, of course, assume they are bluffing, but you suddenly have the suspicion that you are the one at fault. You may have done your research, but you have somehow got your sums badly wrong.
Getting a salary offer wrong is a disaster. It wastes your time as well as that of the candidate, and if you are not offering the going rate for the job, you and your organisation can look unprofessional. An unhappy candidate can make it difficult to get others interested in what you have to offer.
What’s gone wrong? As an HR professional, you know that getting hold of accurate salary figures can be frustrating. Apart from those of directors, they are not published, and you will have to fall back on your own knowledge – or check on online.
You are likely to find online salary surveys, but not only does the quality of data depend on the veracity of respondents, it can be wildly out of date – salaries, like good candidates, do not stay still.
You need a definitive guide to current salary rates to help you budget, recruit and retain the staff you need.
A new kind of salary guide
Fortunately, there is now a new type of online guide from city-based business funding specialist Rangewell, which is based on the official statics as compiled by the government and provided by the ONS – the Office of National Statistics – accepted as the authority on matters of salary. Their figures show what people actually earn, rather than what they might say they earn.
This tool also lets you look back on how salaries have changed over the last 7 years – making it easy to spot trends. Being able to see those sectors, and specialisms, that are seeing the fastest growth makes it easier to extrapolate the relevant data and plan ahead.
It’s a vital and unique source of information – all you need is the job title you are interested in – and it will give you the figures you want.