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| October 29, 2008 03:18 AM 1 |
Total Posts: 34
Join Date: May 27, 2007
Rank: Executive
Post Date: October 30, 2008
Posts: 34
Location: United States
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How to ask expected salary during Recruitment ?
Hi there,
I am taking care of the Recruitments in the HR deptt. I really feel that when I ask the expected Salary from the Candidates during the Interview, I don't get the satisfactory answer.
Either they say that it is Negotiable or will ask for 30-40% hike in current salary.
Since Salary is one of the important components while recruiting new employees hence please help.
* Is 30-40% hike in salary, during change of Job is a trend.
* How to deal with candidates who say that Salary is Negotiable.
* Is negotiating on salary good, and will this Negotiation help in retaining them for long. Thanks Mohanty
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| October 29, 2008 03:192 |
senthil.m
Total Posts: 43
Join Date: May 27, 2007
Rank: Executive
Post Date: October 29, 2008
Points: 215
Location: United States
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Re: How to ask expected salary during Recruitment ?
Hi,
If the candidate says it is negotiable, we have had success by asking for a range. We explain to them that we need this information to take the candidature forward. Candidates expect 10-30% hike in salaries, depending on the time of last increment.
When we decide to pay, we look at, among other things:
1. Total experience, quality(depth, cross functional exposure, international exposure, autonomy in complex decision making, etc) and quantity (number of years of experience).
2. Annual multiple for our industry. For example, in our industry, median salary for people with more than five years of experience is INR 125,000 for every year of experience. (5 years experience: 6.25 lacs)
3. Rarity of skill set. rare skills command a premium.
4. Internal pay parity. we can not destabilize our complete system to accommodate one person. No one is that important.
I hope this answers some of the questions you had. I will be happy to answer any further questions you may have on this. Senthil
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| October 29, 2008 03:213 |
priyanka
Total Posts: 86
Join Date: May 27, 2007
Rank: Manager
Post Date: October 29, 2008
Points: 430
Location: United States
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Re: How to ask expected salary during Recruitment ?
May be every recruiter faces this kind of problem. first just look at your internal company and see how is the situation i.e., if you take your company in to three level junior, middle and senior management, in each level what grades are there.. for each grade try to know the salary band width available. Then you may get some fair idea. About the present trend inside the company..
Then, you recruit for a particular post, you may know what is the salary level you can fix in.
for eg. if an executive HR in the company getting some were around 2.4 to 3.0 lakhs then in and around this if you can able to give a rise then it can help you to stablise the internal system.
Normally this percentage increase is always negoiation game or say staisfaction game. if a person is thinking for a 10% hike and if you can give 20% itself.. then may be giving him 12% hike itself can give greater stasifcation level. but when the reverse happen that expectation is 20% and you stand at 10% it can create a problems.
So it is the experience which can help you to judge the percentage well. priyanka
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| October 30, 2008 12:484 |
Harry
Total Posts: 4
Join Date: May 27, 2007
Rank: Beginner
Post Date: October 30, 2008
Points: 20
Location: United States
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Re: How to ask expected salary during Recruitment ?
Hi, I agree to all the guys' comments. However, we also need to keep in mind while recruiting a potantial candidate that: *Is there a role change *If he's been appreaised recently, you should ask why he/she wants 20-30% hike. if you think he has some genuine resons to prove it, we can certainly review on it an ddiscuss with the senior management. I hope this helps you out. Regards, Himanshu
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