Archives

Category : Hiring

How to Become an Employer of Choice

Talented high-tech salespeople are, quite literally, worth their weight in gold.

However, you will not be able to hire the best and brightest if you are not already considered a top employer by the people you’re looking to attract. After all, they have their pick of employers—so why should they pick you?

It’s a question worth devoting some serious time and thought to, long before you start your recruiting and hiring process. You need to have compelling, well-supported answers to the following questions:

  • Why would a top salesperson want to work for your company?
  • How are you different, and better, than other employers competing for the same talent?
  • What makes your workplace truly unique?
  • How does your total compensation package stack up?
  • Do you offer real opportunities for responsibility, growth, and advancement?

Companies like Apple and Google can “buy” just about anyone they want and retain them over time—and even when an employee leaves, there are thousands (if not millions) of other folks clamoring for that spot. But the rest of us need to get a little more creative with our branding.

Here are a few non-monetary ideas for you to think about:

  • Authority/Autonomy/Decision Making: One of the most frustrating things smart, goal-oriented people encounter in companies is the constant need for management approval to get anything done—whether it’s launching a new initiative, spending money, or hiring. If your company gives people the authority to make decisions without requiring them to run everything up the ladder and collect a dozen signatures, this is worth more than you think to top candidates.
  • Benefits: Tuition reimbursement, paid time off, annual company retreats, etc. What do you offer that others don’t? Always remember that total compensation encompasses a lot more than salary + bonus.
  • Coaching: True coaching and mentoring programs are rare—and very valuable.
  • Colleagues: Does your company have well-known and/or highly skilled people to learn from?
  • Expertise: Your company may possess a unique area of expertise that new hires can learn about and benefit from.
  • Exposure: Small companies in particular may offer a lot of exposure to customer executives, corporate strategy and direction, and so forth.
  • Leadership: Ideally, your company has strong sales leaders in positions of authority, with successful backgrounds, who can and do pass their knowledge on to the people who work for them.
  • Movement: New hires like to know that they can and will be offered other positions in the company, maybe even in different departments, so that they don’t fear being stuck in the same job for years.
  • Promotion from within: Does your company have a strong track record (that can be proven with hard numbers) of promoting people from within? If so, this is a big deal—shout it from the rooftops.
  • Training: Many companies have pared back training to the absolute minimum. A robust training program can be a valuable perk; it also sends the message that you make it a priority to invest in your people.
  • Work environment: Maybe your company is known for its civility and genuinely nice people. If you’ve found a way to get things done that doesn’t include a lot of yelling, table-pounding, and childish antics, this in itself is a rare and valuable perk.

If you really can’t think of anything that makes your company special and unique, think harder, and maybe talk to some current employees for ideas. The things they enjoy most about working for you may be things you’ve never even considered.

The Point? Get your own house in order before trying to bring top talent aboard.

You’ve Identified Your Top Candidate for the Job. Now What?

A lot of hiring resources make “making an offer” sound like the simplest part of the process. In some ways it is—from the employer’s perspective. After all, you have already done the work of defining the job, examining your budget, advertising the opening, interviewing candidates, assessing their relative strengths and weaknesses, and winnowing down the pool to your very top choice.

But you’re not done yet, not by a long shot, and that’s because the money end of things is likely still up in the air.

Even when you know who you want to hire, and you’re certain (or reasonably so) that the candidate wants to work for you, the amount and type of compensation offered can make the difference between a long, productive employment relationship and “Thanks, but no thanks.”

Here’s what I recommend:

  1. Talk with the candidate about the compensation you plan to offer prior to making a formal written offer. Like it or not, unless the candidate is independently wealthy, compensation is one of the most important factors—especially if he or she has multiple job offers to choose from. And you want to be sure, prior to making a formal offer, that it will be accepted.
  2. Make a strong initial offer. How much should you offer? It should be an amount the candidate can not only accept, but feel really good about. Lowballing a candidate will leave a bad taste in the person’s mouth. Top performers, in particular, know their market worth and resent being asked to work for cheap. While there is always room for negotiation on both sides after the initial offer is made, an extreme lowball offer can quickly sour the relationship beyond repair.
  3. Don’t play hardball. While we’re on the topic of negotiating, you don’t ever want to be in the position of negotiating tooth and nail with a candidate, as if you’re on opposing sides of a nasty lawsuit. You are ultimately looking to bring this person onto your team. Again, the relationship will be damaged if you go about the negotiations with an aggressive, winner-take-all attitude. Memories are long, and it simply does not make sense to play hardball over relatively trivial issues.
  4. Round up. When presenting your offer, round up to the nearest $10,000 mark. “$200,000” feels and sounds a whole lot better than “$198,700.”
  5. Consider total compensation. Don’t forget to discuss stock options, company perks and benefits, bonus and/or variable compensation potential, profit-sharing, merit increases, and the like. Oftentimes, these add considerable value (both monetary and psychological) beyond the base salary and should not be overlooked. If stock is involved, talk about the number of shares that will be offered, the vesting schedule, and how often new options or shares of restricted stock are issued.
  6. Listen to the candidate. Last but certainly not least, if the candidate rejects your initial offer—or seems less than fully on board with it—try to find out the real sticking point. It may be something that can be remedied relatively easily (and, if not, best to know this now rather than after making your formal written offer—or, worse still, after the candidate halfheartedly starts working for you).
Copyright © 2018 Red Chasm, All Rights Reserved