One of the first questions a candidate has about a position is how much does it pay. Money is the motivating factor in many decisions, both in and out of the job hunt. Because of this, it’s essential to make sure you’re offering the right salaries at your company.
Especially in light industrial and construction environments, workers want to make sure they’re being paid fairly. This goes beyond what their experience warrants – maybe they know another laborer who works for a competitor and makes more money than what you’re offering. As an employer, remaining competitive and avoiding under- or overpaying is essential. Ask yourself these questions to determine the right level of compensation for the job.
What will they be doing?
Before you consider salaries, you need a position description. This will outline what exactly the new hire will do and the time involved. How physical is the position? How much time will be spent traveling? Then put yourself in this employee’s shoes – what seems like a fair wage to you? This not only helps you with compensation, you can think about the type of person you’ll need to fill the role as well.
How much are my competitors paying?
It’s nothing personal, but people want to make the most money possible. If you seem cheap compared to competitors in your area, you might miss the best workers available. Find out how much others are paying, both regionally and nationally, and then look at your own business. Are you able to meet or exceed those amounts? More than paychecks, consider what else you have to offer as a company. Leverage your benefits package whether you can or can’t compete on the same level as your competitors to show your value in all areas.
How flexible am I willing to be?
Negotiation is a part of the hiring process. Candidates have a number they won’t go lower than, and you have a number you won’t surpass. Keep an open mind throughout and try to be flexible. Perhaps the best candidate will ask more than you’re technically willing to pay, but that doesn’t have to be the end. If you’re willing to fight for this one, try to meet in the middle (as long as you’re financially able) to make them feel appreciated and show you don’t want to lose them.
Get help in the hiring process
At TKO Construction Services, we understand how challenging the hiring process can be. Working with us means more than finding better talent, faster. As your construction and general labor recruiting partner, we can do it all for you, including writing the job description, finding candidates, conducting interviews, doing background screenings, and developing/presenting the job offers. Contact TKO today!