When it comes to hiring, there are many different decisions and challenges involved. One of them is whether you should include a pay range in your job posting, or discuss it during a job interview instead. While there are many opinions among experts, there are several good reasons to include salaries in your job postings. Here’s a look at a few of them.
Why Are Pay Rates Important on Job Postings?
Your Making It Easier for Better Candidates to Apply
When there’s no salary or pay range listed, the best candidates will wonder whether it’s worth the time and effort to apply. However, when you list it in your job posting, that decision becomes a whole lot easier. Better candidates will apply and those who are not right for the role or the salary will move on, meaning less time spent on screening resumes and interviewing candidates.
You Set the Tone That You’re a Transparent Company
When you don’t include a salary in your job posting, it sends a message of secrecy to candidates and that your company lacks transparency. When you do include it, though, candidates appreciate the transparency and honesty about what to expect with the job, including the salary. This builds more trust with the candidates you’re considering and showcases that your company is committed to openness and fair, competitive salaries.
You Make the Candidate Experience Better
When candidates have a pay range to compare to other openings, it improves the overall candidate experience. As a result, candidates feel more confident and comfortable applying to your job openings, knowing that whether they get hired or not, they’re not wasting their time on a role that doesn’t meet their financial needs.
You Normalize Salary Posting
The more companies that share pay ranges and salaries in their job postings, the more it becomes a normal, standard part of the hiring process. This can also sharpen your competitive edge and help you attract top candidates compared to companies who don’t post these details.
You Can Better Appeal to Younger Generations
Younger generations in the workforce want pay ranges to be posted. In fact, according to report, millennials, who will make up 75% of the workforce by 2025, value openness about compensation. This means you’re more likely to attract top candidates from this generation when you’re open about salary.
Have competitive concerns about posting salary ranges? The pros outweigh the cons. You can enjoy a more efficient hiring process thanks to better qualified candidates applying, At the same time, you’re promoting transparency and appealing to a wide range of demographics in the workforce.
Need Help With Salaries for Your Job Openings?
If you need help determining what fair compensation is for your roles, turn to Future Force, award-winning recruiters in Orlando, FL. We can help you get a handle on fair pay ranges for your job openings so you’re offering the right amount for candidates and your company. Get started today!
