According to some university studies, the most motivating elements at work are a good relationship with one's superior and co-workers, a professional atmosphere, opportunities for growth and being able to give some meaning to one's work. To this end, many companies are trying to improve their brand image for recruitment purposes and to attract talent. While these elements are important, they won't help you recruit if your salaries are not really competitive. As evidence of this, according to a Hays survey in Canada, 51% of employees who are considering changing jobs are motivated by salary. In other words, 1 in 2 people will not consider your offer if you don't post the salary!
5 crucial elements concerning wages
Firstly, if you don't post the salary on your job advertisements, you should know that this is a mistake. There are many ways to get around the old 80's mentality of salary. Salary indicates the level of your company, your competitiveness and above all the demonstration of your empathy towards your employees. When companies don't post salaries, it gives the impression that you are cheap or worse, that you are trying to net your new fish.
In order to do this, there are crucial elements to consider:
- Competitiveness: posting your salary allows candidates to assess your level of competitiveness and to really consider your job offer.
- Pay equity: having a transparent pay equity policy and giving your employees the chance to assess its veracity increases your credibility for job applicants.
- Retention element: Although some may not consider salary to be a motivator, it is a strong contributor to the talent retention factor. The same survey found that 40% of employers lose talent to salary. In short, don't wait for your employees to leave, you'll be wasting huge amounts of money that are often irreplaceable.
- Avoiding staff turnover: some studies show that replacing an employee represents 2.5 times his or her salary. To do this, it is best to adjust our salary policies.
- Attracting Canadian talent from other provinces: Posting salary conditions helps recruit from other Canadian provinces. Candidates can also assess the often higher standard of living in Quebec, if compared to other provinces.
Finally, forget your old habits about posting your positions and have a different attitude. For example, like the big sports teams, build your team like the big professionals. Better yet, there is no salary cap in your case. In short, knowing that 53% of employers are considering increasing their workforce and that almost 50% of your team is ready to leave, don't be fooled and act today with a real transformation of your salary policy.