Should Job Posts Mention The Salary?
Sharing information about how much a job pays used to be a no-no. There was something secretive about salaries, something private about paychecks. But that
type of keep-it-to-yourself thinking seems to be on the wane: Today’s workers are more likely to talk freely about what they earn and to share that information not only with friends but also with coworkers and even just acquaintances. All of which leads job recruiters and hiring managers pondering whether they should include salaries on hiring platforms such as ZipRecruiter and Indeed.
Here are some pros and cons that can help you decide if listing a salary or pay range is the right move for a business and the employment opportunities it offers.
Attract The Most Interested Candidates
By sharing the salary for a particular job, you’ll know that those who apply find the salary acceptable and are probably more motivated to get the job. The hiring platform ZipRecruiter provides a tool that allows job seekers to search salary data among 7.5 million jobs posted on the site every day. It’s also worth noting that people who are already employed are part of the audience your job advertisement might reach, and salary may be especially important to those candidates; they might only be interested in changing jobs if a salary increase is part of the mix.
Enhance Your Company’s Transparency
Employees want to know as much as possible about a job before applying, including salary, benefits, location, and work culture. A Glassdoor survey found that people looking for work rank salary No. 1 when it comes to what they value most in a job ad, with 67% of respondents choosing it as a top piece of information they want to know. In addition, when you include information about pay, people who apply are more likely to feel that they’ll be compensated at the same rate as any other applicant, regardless of race, gender, nationality, etc.
Less Wasted Time For You And The Candidate
Being upfront about salary means that you won’t end up spending – and wasting – time vetting an applicant who was banking on a much higher salary than what you’re offering. On the flip side, applicants would probably prefer to avoid the preparation for and stress of an interview if they know before they apply that the pay rate doesn’t meet their expectations.
Divulging A Below-Average Salary Could Net Fewer Applicants
If a pay range for a job is below the industry standard, sharing salary information in a job posing could impact the number of skilled applicants who apply for the position.
One Less Recruitment Tool Available When Offering A Job
Some companies want to negotiate to hire someone with less experience at a lower rate, while others opt to make flexibility a priority, especially when it comes to offering more money to attract a sought-after candidate. Disclosing a salary upfront could limit your ability to offer compensation as an enticement.
Employees Might Take Notice
When a salary is shared publicly, employees who aren’t receiving the same rate of pay might see the figure and wonder why their starting pay wasn’t as high – a situation that’s likely to promote negative feelings, sour grapes, and maybe even a decision to look for employment elsewhere.
More Applicants Interested In Salary Only
Most companies seek employees with the skills and experience for the job, and who will fit well within the workplace culture. Advertising the salary range on a job posting can pull in more applicants who are motivated primarily by money. You also risk hiring a job-hopper who will leave for a higher paying job as soon as one comes along.