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How to Control Price Negotiation with Hard to Fill Jobs

June 22nd, 2012

In the sports pages, we see many instances of salary negotiation gone awry. One team makes a huge offer for a restricted free agent, and the athlete’s current team is stuck overpaying for a player that they want to keep, but isn’t really worth the high rate.

In an industry where specialized talent is tough to come by, filling jobs can be difficult. Negotiating salaries for these tough to find individuals can even be more difficult. Don’t become that trapped home team. Follow these rules for safe, controlled price negotiations.

  1. Thing about how much leeway you have for negotiation: The potential employee has given you their salary range; you have posted your salary range. Benefits should also be discussed. Information is key.
  2. The level of the position allows for more bargaining: The higher level or specialized position you are looking to fill, the higher the bargaining scale.
  3. Urgency of position: How badly do you need this employee to fill this position? That can put a strain on negotiations, as you will have to allow for a higher salary.
  4. What is the market value for the position: You need to be able to create a comparable salary with the market and geographic salary demands for the position.
  5. Economic conditions play a role: If the company is doing well, salary negotiation is easier. If you are in a recession, resources can be more difficult to come by.
  6. Benefits and bonuses: If a candidate rejects an offer show them the value of the different types of benefits you can offer. Health care and 401K matches are only two types; there are also car and cell phone allowances, paid time off and child care and tuition reimbursement.
  7. Capitalization: If you pay too much, everyone will feel uncomfortable. The candidate will feel as though they have to meet super high expectations, which may exceed the original, and you may also feel the need to give them more work than the job description gives. No one wins when only one person wins.

Contact The Talley Group for more help with filling those tough positions.

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