August 26, 2014

How to decide Pay and Benefits

Every time an employer fills a vacancy, it will need to make decisions about what the pay and benefits to be offered to the successful candidate, are. In these harsh financial times, there may be a need to make a business case either for the new role, or to fill an existing vacancy and these decisions should be made prior to the recruitment process commencing.

Each organisation will need to ensure that the pay and benefits on offer are set at an appropriate level. They must be affordable; they must be high enough to attract strong applicants who might otherwise not consider the role; they should be in line with comparable roles already in existence in the organisation; and they must strike the right balance between pay and benefits. In some cases there may also be an advantage for the organisation in stressing some of the intangible benefits of the role.

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