Click on this text to editManaging expenses during the recruitment process is a crucial concern for SMEs. Thus, acquiring valuable advice on salary negotiation that doesn't strain your budget is essential. To begin, let's explore the key factors that drive candidates to seek new employment opportunities. it. 
Sense of purpose – candidates want to know they are making a difference in their job role, this particularly applies to generations Y and Z. 
Values and Goals Alignment – candidates want to ensure that their values and goals align with those of the company they work for. 
Flexibility – candidates are looking for flexibility within their job role but often not as much as you think they are!! Main areas that motivate candidates are working from home and flexibility around family commitments. 
Career Progression – most candidates are looking for career progression which many SME’s feel they cannot provide. However, SME’s can highlight what candidates can gain from working with them that will contribute to their career. 
Training and Development – candidates will look at training and development opportunities. They want to feel that the company they work for are investing in them. 
Salary – having previously sat at 7 on the list, salary is now the number one motivator for candidates to move roles. This is largely due to the impact on the cost of living. 
Now, let’s look at the 5 top tips on Salary Negotiation. 
1. Put the salary on your adverts. 
It’s important to have a salary range so the candidates aren’t wasting their time or your own time applying for roles without a suitable salary. 
2. Bench mark your salary banding. 
Make sure you are offering the right salary band for your role. There are many ways you can research this, and we are also happy to help! It’s important to remember that in the current economic climate candidates will not move for less than they are already earning. If a candidate is willing to move for a significantly lesser salary you should discuss the reasons behind this during interview. 
3. Be clear as to what makes up the package offered. 
Salary is only part of the package being offered so ensure you sell the rest of your package at all stages of the process. On your job advert, your social media posts and on your website. Sell your package at interview to get the candidates to see beyond the money. 
4. Make the offer yourself. 
This is the most powerful thing you can do. If you are using an agency, it is in their interest to get you to offer more, as the more your offer the more they will get paid. 
Making an offer yourself is much more heartfelt and the candidate is much more likely to accept. Act quickly and seal the deal! 
5. Understand your limits. 
If you have got some negotiation power regarding salary understand your limit and when you need to walk away. 
An interviewing process should never really get to this stage, but it is important to know where your limit is just in case. 
If a candidate refuses your offer, it is important to ask some questions around this. For example – is there anything else we can do to ensure that you take the offer and join us? 
In conclusion, these five top tips on salary negotiation provide valuable insights for companies seeking to attract and retain top talent while managing costs effectively. By implementing these strategies, you can build stronger relationships with your employees, ensuring a mutually beneficial partnership that fosters professional growth and organisational success. 
If you need further help or guidance with any or all the above points discussed, please call Emerald Starfish on 0116 2080246. 
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