Tuesday, February 7, 2012

Rate Expectations, Part 2

Employers, ever wonder why you can’t snag the best talent in a “flush” job market? We understand where you are coming from – budgets are still limited and economic uncertainty looms, impacting your ability to lure potential employees with top dollar compensation packages.


If you try to capture top talent with a low rate – you are not likely to get the talent that you are looking for and quite frankly your company deserves. Yes, we have had companies come to us asking for a bookkeeper at $13/hr because the “market bears it”. Not really. Quality talent doesn’t come at that rate. And in the off chance that someone says yes, they are likely to move on to another job next month for $20/hr.


But if you want to attract a super star, you have to be financially competitive. NO, this doesn’t mean that you have to get into the bidding wars and signing bonuses of the late 90’s, but it does mean that you have to be fair and thoughtful.


So, be realistic and creative in your offers. Offer non-financial compensation to get the best talent for your limited budget. Flexible hours and partial telecommuting don't cost you a dime and have a real economic benefit to job-seekers. Uncertain about your economic outlook? Consider a contract or contract-to-permanent arrangement to minimize your hiring risk and match your employment expense to an anticipated grant, contract or revenue stream.

3 comments:

Josephine P.Felix said...
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Elizabeth J.Vega said...
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gabbielicious said...

Now if I may just add on some information; it is difficult to find and hire someone who cost less and at the same time is a great talent but it is not impossible.
If you've got the right technique and strategy, it's going to be pretty easy to end up with a competent, well-trained and trustworthy bookkeeper for example. You could read this article for more additional tips.