One of the toughest aspects of hiring is figuring out how much to pay for different jobs. And yet, targeting the right salary is critical. If you advertise a salary that is too low, you may be flooded by applicants who are unqualified for the job. On the other hand, if you advertise a salary that is too high, you will hurt your bottom line. Fortunately, there’s a simple solution to this problem: use a recruiting agency to help fill the position. How would using a recruiting agency help with your quandary? Read on.
A Recruiting Agency Knows Your Competitors
Recruiting agencies have their fingers on the pulse of your industry. They fill positions at many different companies involved in work that is similar to yours, so they know exactly how much people are earning for specific jobs. This saves you from having to guess how much to offer. With this information, you can gain a better understanding of how much of your budget should be devoted to employees’ salaries, and you will also know what kind of offer it takes to attract the best talent.
A Recruiting Agency Knows About Specific Job Descriptions
When trying to figure out how to offer a competitive salary on your own, you may visit job postings online and try to match up your particular opening with other job descriptions. Even though you’re an employer, it can sometimes be hard to match up job descriptions. But recruiting agencies match up prospective workers with job descriptions all day long, so they’re very good at knowing how much employers should pay for certain job descriptions. Let the experts handle this potentially difficult task.
A Recruiting Agency Knows the Industry Average
Knowing the industry average salary for a particular job gives you a distinct advantage. You can then offer a salary that is higher than average and attract the best talent for the position. When you’re unaware of the industry average, you may inadvertently settle for workers who have little to offer your company.
A Recruiting Agency Can Advise You on When to Pay a Premium
Sometimes it pays to spend a little more on a worker’s salary. Let’s say, for instance, that your business is in need of a crackerjack office manager because the entire office is disorganized. Your employees miss sales opportunities because sales leads go astray. Office supplies are never ordered when you need them, which causes lapses in productivity and endless frustration. In this case, it will be worth it to pay more than usual for an experienced, highly-recommended office manager who can whip your office into shape and keep everyone on task. Although you may pay more for this worker’s salary, you’ll save time and money when your office is suddenly running like a well-oiled machine.
A trusted recruiting agency has all of this information and more, and you can benefit from this knowledge when you use their services. By developing an ongoing business relationship with a quality recruiting agency, you can know how much your competitors are paying their employees, how to compare and write effective job descriptions, what the average salaries are in your industry, and when you ought to pay a premium for a specific position.