In the recruiting world we have heard it all before…
- “I don’t want to post a compensation range because everyone will expect the high end.”
- “I don’t want my current employees to know what others are paid.”
- “I don’t want my competitors to know our salaries.”
- “Other postings online do not include a compensation range, so why should I?”
Although these are common thoughts for all business owners, it can be directly affecting your candidate pool numbers. In fact, SMART Recruit Online found that job advertisements with a compensation listed increased the total number of candidates by 30 percent. Small and mid-sized companies are at a disadvantage by not posting a wage since larger companies have known salary and hourly rates.
Would you choose a candidate solely based on the fact that they attended the same college as you? How about choosing a candidate based on how attractive they are? If this line of reasoning sounds absurd to you, then you’re right! However, you may unintentionally use that type of information to make a selection.
Almost all business owners become an interviewer at some point in their careers. While the main goal of an interview is to evaluate the candidate, it’s also important to understand common interviewer biases. These are preconceived ideas and beliefs that we assign to candidates unknowingly and may ultimately sway our hiring decision.