A job posting is the first step to advertise an open position and is a critical component to attracting the right candidates. Then why are so many postings not including salary information?
According to ZipRecruiter’s Chief Economist Julia Pollak, only about 12% of postings from US online job sites include salary ranges. She said, “Companies don’t want informed consumers…because the more informed, the harder it is to negotiate.”
Compensation is one of the main factors people consider when applying to jobs. And with the new laws being passed throughout the US, soon many companies will be required to disclose pay.
Here are some tips on the importance of including salary information in a job posting.
- Attracting Qualified Candidates: Including pay details saves people time and energy in choosing what they apply for aligns with their needs. If they don’t see it, they may not go through the application process at all.
- Showing Respect: Job searching is stressful and being transparent with salary information can make people feel respected while building trust with the employer or recruiter. No cards are hidden.
- Understanding the Market: Not all candidates understand the market fluctuations with compensation and may not know their worth based on skills and experience. Posting pay can be insightful for them and with a tight labor market, can help focus on the right jobs.
- Laws of Pay Transparency: More cities and states across the US are passing laws surrounding pay transparency, so review if you have requirements in your area here.
The bottom line is that while we think not posting salary information gives us control over the candidate and negotiating power, it’s hurting us more in the long run. Post the stats, find the right person, fill the job.