SAVE | EMAIL | PRINT | MOST POPULAR |  RSS | | REPRINT
|
What—If You're Nice—You'll Teach Out-Going Employees
October 01, 2009
With hiring activity allegedly picking up, many job-seekers face a new challenge, says Jay Hofmeister, co-founder of The Resume Bay. As if there weren't enough struggle to contend with, Hofmeister says your out-going employees could use a few pointers on nailing down a decent compensation package along with their new job.
"Historically, hiring managers and executives have told me everything is negotiable—but what about today?" he asks. "Many organizations have cut salaries, 401(k) matches, company perks, and paid overtime. They are being very conservative about adding new staff. And with the official unemployment rate at 9.7 percent for August, it's a hyper-competitive job market."
Hofmeister offers job-seekers the following advice for finding new employment and favorable accompanying benefits:
• Lay the foundations for negotiating early in the process: During the interview process remain open when salary is discussed, he says. "The goal here is to show flexibility," says Hofmeister. "Look like you'd walk without an extra dollar and you're out; demonstrate that you'd settle for a dollar too low, and that is a dollar you may never get back."
• Don't come across as desperate: If you're not sure how to do that, check out Hofmeister's recent column on this topic, "How Not to Look Desperate."
• In interviews, don't be shy about explaining what value you bring to the table, suggests Hofmeister. How much did you save your last company? How much revenue did you generate?
• If more than one company is interested in you, let them both know you may be off the market soon—especially if they are competitors, says Hofmeister. "From my experience as an executive recruiter," he says, "employers hate the sting of losing a great candidate to a competitor!"
Before you decide to negotiate, ask yourself these questions:
• "Is there a strong backup candidate, and do I risk the offered being withdrawn?" This is easy information to get if you're working with a recruiter, says Hofmeister. If you are doing this on your own, it can be challenging. "In some instances," he points out, "employers will tip their hand and say, 'Well, it was a very tough choice but we have decided to make you the offer.' If they say something like that, they have a back-up candidate."
• "Do I fully understand the career path progression?" Top-tier candidates want room to grow and take that next step in their career once they show value for an extended period, says Hofmeister. "Is a few dollars or more vacation time worth the risk of losing out on an opportunity to take the next step in your career?" he says to consider.
• "Will I truly enjoy the work and the people I will be working with?" "During my nine years as an executive recruiter," says Hofmeister, "I've learned that company culture, and how you are treated by your employer, matters. If the staff has an established history, and the boss has been with the organization a while, then this shows employees like working there."
• "Is the business model solid and the company growing or stable?" In January, Hofmeister says he had a candidate start a new job. "They told him a pay cut for the staff was imminent, but not to worry," he says. "Since then he has had to take two furloughs and a 10 percent wage cut, and now is making less money than at his previous employer. A higher offer is no good if the company can't make good on it."
• "If I receive what I feel is fair market value, could I come in with a bull's eye on my back and overly be scrutinized?" This year, Hofmeister had a candidate accept a job with a supplier to Honda. "He played hardball and negotiated an above market salary. But just a few months into the job, he sensed resentment and animosity and asked me what to do," Hofmeister explains. "I recommended that he offer to take a pay cut to save his job. Too late—the decision had been made and he was let go."
Have a good response to a low-ball offer.
• Ask for more. You need to specifically put the question to the company—specifically, to the person who made the offer. Hofmeister says the job-seeker should ask: "Is this your organization's best and most competitive offer?"
• If the answer is "yes," review the offer in detail. Go over the health benefits package. Ask for one if it's not provided. "Get a clear understating of the vacation schedule. If a bonus is offered, what is it based on? What percentage was paid out last year?" Hofmeister says to inquire. "Money isn’t everything—there are other areas employers may be flexible on. For instance, some employers offer flex-time; others company stock at a discount. See if a work/life balance is valued by the organization. Would they be open to a 30-60-90 review with a merit increase?"
• Most employers don't like the game of back and forth negotiation, says Hofmeister. "Take your time," he says, "and come up with a realistic counter offer."
• Talk openly with family members, he suggests, and explain that cuts in the family budget may happen for the short term.
• "Keep in mind there is no law saying you have to stay at your new organization for the rest of your career," says Hofmeister. "Just the other day a candidate who was a back-up to the person that landed the job called me. He said 'XYZ' Company wants to interview him again because the other person left for a better opportunity."
|
SAVE | EMAIL | PRINT | MOST POPULAR | RSS |
|
|
| Back to Training Index |
|
|
