Should employers include the salary in the job description?
The trend continues into 2023 with more and more employers posting the salary, or at least a tight salary range, for positions that they post online. Yet the question is, should they? Are they giving up their negotiating power, or do they fall into a trap where salaries get inflated for in-demand positions?
The answer is a resounding yes for a multitude of reasons that end up helping everything from the candidacy you get to the reputation your company ends up building out.
It helps to get you the right candidates upfront
When you post salaries openly online for positions, you'll get candidates who will apply and are willing to take that salary amount. That means there's no surprise at any point in the process and no need for recruiters or candidates to go through the screening process if the salary isn't up to expectations.
This saves a lot of time for the multiple steps HR takes, which also saves money.
At the same time, it also helps you get candidates in a competitive market. For example, you may offer a larger range for certain candidates than your competitors, incentivising them to apply for positions within your company.
This can help you get the quality you're looking for upfront while, at the same time, saving resources on recruitment.
It helps to build trust and transparency
Authenticity is still a big factor as we delve into the New Year, and transparency also comes with that. There are applicants these days that may not even consider submitting their application without at least a listed salary range.
Employees believe that if some companies can do it, all companies should be able to provide this simple request, even if it's only an estimated range. Even if a company may appear to pay above market rates but won't post that, many will assume that company pays below market rates.
You get better forecasting with a stronger team dynamic
In the past, it seemed that salaries seemed taboo to talk about, yet the recent generations of workers have been more than open with their pay. Posting the salaries online and being open with salaries in the workplace helps employers to budget properly throughout the year.
It also helps to gauge what the market is paying for certain positions so that employers will know how much to allocate to get the best types of candidates.
Why are there some that are opposed to it?
Some employers believe that salaries should be kept private and personal. Otherwise, there could be the possibility that it breeds conformity and eliminates competition.
In addition, with everyone knowing everyone else's salary eventually, it could have people not going the extra mile in their position if they aren't properly incentivised. This is another serious consequence.
Regardless, the trend continues to be towards this set of transparency, which is helping the recruitment cycle and helping match candidates with their desired positions much faster for the time being.
