With the current recession there has been a trend for companies to omit compensation in job announcements. The idea has been that with the increase in job-seekers and HR departments being flooded with applications, they simply don’t need to include salary information anymore. However, the economy is picking up and job seekers are landing jobs much sooner than most hiring managers are accustomed to. In addition, highly qualified candidates who are employed are less willing to respond to an announcement unless they have more facts about the position. Here are three reasons why you should list the salary in your job announcements:
Red Flags – From a job-seeker’s prospective, job postings that don’t mention salary ranges often send mixed signals – the company may not have a firm job opening yet and is really just wanting to see what kind of talent is out there, or… the company hasn’t done the research to determine the value of the position, or… the company doesn’t want its current employees to see what a new employee would potentially make. Although they may not be accurate, those signals may turn a good applicant away.
Time-Saving Screening Tool – Listing the salary range also saves the hiring manager many hours of screening scores (if not hundreds) of resumes and interviewing candidates only to find out that a candidate’s salary requirements don’t match what the company is willing to offer.
Better Response – Most job seekers use the internet and list their search criteria on job boards. If your job lacks specific salary information, chances are it won’t show up and candidates won’t see it.
If you still don’t want to list the salary in your job announcement, you should understand that you might not be getting the best response and may have to put more time and effort. Some hiring managers may feel they have the time, but most can’t spare it.