Why Adding Compensation To Your Job Listing Ads Generates Better Candidates

October 5th, 2022 by HireClick

An easy way to get better candidates for your open positions.

When looking for a new job, what’s the thing that drives you to apply? Is it the location, the salary, the benefits, an easy commute, or maybe something else? Well, for most candidates, the answer is simple—the salary. In a recent Glassdoor study, 67% of job seekers said that salary was the top factor they looked for in a job ad.

So, the big ticket question is, why are some companies reluctant to put the salary range on their job posts?

That ideology stems partly from competition concerns and partly because it has implications for negotiations between employers and job seekers. For example, if there were two competing establishments, one could constantly look at the other’s salary offers for new job seekers and one-up them to gain a competitive advantage. Further, if the candidate already knows the salary range, they may be turned off by an offer on the lower end and could seek employment elsewhere.

If the person is strictly looking for a job with the highest salary, they are going to uncover this during the interview process, eventually. Transparency of pay/salary range should be viewed as a positive tool that allows employers and jobseeker to assess the viability of a potential match.

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So now that you know about the possible negatives of including a salary range in your job posts, what are the positives?

First, it attracts more applicants. Second, it shows that your company is open, fair, and transparent. Third, people don’t typically leave their jobs for positions at the same pay level.

Why does including salary generate more applicants?

Jobseekers today have choices. By including the pay range within your job postings, you are showing that you are organized, the position is fully vetted and you are ready to hire when the right candidate presents themself. As an employer, you are transparently presenting an opportunity that will be taken more seriously by qualified job seekers, thus generating more completed applications.

Why you should prioritize being open, fair, and transparent?

Today, more job seekers prioritize transparency. Job market trends show that millennials, a key group for today’s employers, are very open about their compensation and want companies to be as well. Including the salary also shows that your company is committed to openness. Some candidates may feel like a company is trying to underpay them if the salary range isn’t in the job post. For that reason, they may choose not to apply. More often than not, it’s better to be open and transparent.

Do people want to leave their job for better pay, benefits, and location?

As stated earlier, salary is one of the top factors for people looking for a new job. If you want to lure the top talent from your area to your company, a bona fide way to do that is by showing off how much you pay your employees and the additional benefits you offer. If you don’t post these things, you may struggle to bring in the best candidates.

Talking about salary is no longer taboo. It has numerous benefits and is proven to get you a bigger pool of well-qualified applicants. If you have any questions about where to start with this, feel free to reach out to one of our representatives.

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