Whether or not to disclose a salary on a job advert is a contentious issue, and people tend to fall firmly on one side or the other. Employers who typically don't advertise their salaries might argue that it can weaken negotiation abilities or give competitors an insight into rates of pay. Some also suggest non-disclosure mitigates employee jealousy. However, a quick scan of Glassdoor will show any current or potential employee (or competitor) your salary ranges. And it is getting a lot harder to justify non-disclosure in the face of campaigns that suggest it perpetuates pay gaps and inhibits diversity.
Here are five reasons why we think stating the salary in your job adverts is important.
1. You'll get more applications (and they'll be better quality)
Research repeatedly shows that job adverts displaying the salary get up to twice the number of applicants than those without. And a whole lot of those extra applications are likely to come from those groups who are discriminated against when salaries are hidden. It's also the first thing most candidates look for. In fact, LinkedIn has said that 70% of professionals want to hear about salary in the first message from a recruiter. Upfront details about what a position is worth will save you and your applicants' time, demonstrate a respect for them and the process, and ultimately encourage applications from stronger, more dedicated candidates.
2. You'll be giving a clear message about your company culture
Transparency across policy, behaviour and performance is becoming increasingly important in business in the UK. Your organisation's public stance on environmental issues, sustainability, employee wellbeing, workforce diversity etc. is important to your current and future staff, and full transparency communicates a commitment and pride in these areas. Stating the salary on your recruitment materials is a powerful action that illustrates your company's position in relation to corporate social responsibility. Social Talent's job postings expert, Katrina Kibben, believes that pay transparency is a crucial trust builder and keeping it a secret creates emotional liability.
3. You'll make the hiring process a lot easier for everyone involved
Applying for jobs is stressful and time consuming. Finding out during the process that the salary on offer isn’t appropriate for the applicant makes it all that much worse. Similarly, if a candidate decides not to apply because of the salary range, it is far better for that to happen than for them to drop out after they have been screened and interviewed. Stating the salary on your recruitment materials saves you time and money, and shows you value and respect the time of your potential workforce.
4. You'll attract more millennials
Openness about finance is a deep-rooted trend among this generation. In Jennifer Deal’s hugely successful book ‘What Millennials Want From Work’, she found that 'Millennials are most likely to discuss their compensation with their parents (71%) or their friends (47%). In comparison, older staff are substantially less likely to discuss their compensation with co-workers (19%), friends (24%) or parents (31%).' Millennials will make up 75% of the workforce by 2025 so it makes sense to consider how your recruitment practices appeal to them.
5. You'll stand out from the crowd
One of the greatest barriers to including a salary scale on job postings is tradition. Legacy has a LOT to answer for when it comes to certain hiring practices. As the tide continues to turn in this debate, you can get ahead of the pack. Being upfront and honest about a position, including what the compensation is, can give you a competitive advantage in a saturated market.
How can we help you?
If you're looking for exceptional new talent in Surrey, we can help. Here's how we can work with your business to support your recruitment as an extension of your HR team. You can call us on 01932 355000 or email email@example.com.