4 Compelling Reasons Why You Should Include a Salary Range in Your Job Postings03 Jan, 20241-2 minutes
In this blog, you will learn:
- 4 reasons to include salary range in your job postings.
- Benefits to include a salary range.
- Discover more about our recruitment services.
There is a lot of debate and controversy about whether or not job postings should include a salary range. According to research conducted by job board Adzuna, only 51% of job adverts included salary information in 2023, marking a significant drop from the 61% the previous year.
It can be argued that it hinders the recruitment process with some candidates deselecting themselves from a job if the salary range isn’t included.
Ultimately, the decision to include a salary range in a job posting is up to the employer but it can have a significant positive impact on your recruitment strategy.
Throughout this blog, we delve into 4 compelling reasons why it is important to include a salary range in your job advertisements and how it can benefit your organisation in attracting exceptional candidates.
4 reasons to include salary range in your job postings
- It’s one of the first things jobseekers look for when searching for a new job.
- Increase your diversity, equity and inclusion.
- Increase applications from the ‘Gen Z’ demographic.
- Builds trust and improves retention.
It’s one of the first things jobseekers look for
In today’s highly competitive job market, organisations are fighting for highly qualified employees so it is crucial to use every tool at your disposal to win the war for talent.
Including a salary range on your job postings is one of the best ways to attract top talent and gain a wider candidate spectrum. If you are sure you have a competitive salary, it would be to your detriment not to display it.
Salary is the first thing jobseekers look for when reviewing jobs and it’s a key motivator in the decision to apply for a new job. In fact, a LinkedIn survey found that seeing a salary range in a job posting affects 91% of a candidate's decisions to apply.
Candidates often leave their current place of work to pursue a better paying role and in these scenarios, they certainly won't be prepared to leave their current job just to be paid at the same level - or even less!
By displaying salary information on the job application, you can be safe in the knowledge that the candidate's salary expectations have already been met which can save potential issues further down the track. It would be a waste of time to go through the recruitment process with candidates who drop out at the final stage due to the salary not meeting their expectations.
Increase your diversity, equity and inclusion
When a business is looking for ways to attract diverse candidates into their organisation, including salary ranges in job postings could be a potential strategy. While it won’t directly increase diversity in your company, it could be fundamental to attract more applications and diverse candidates.
Advertising how much your organisation pays its employees can be beneficial to break down the gender pay gap and ethnic pay gap as it promotes a positive image that employees are paid the same and treated equally. Publishing salaries on job adverts increases pay transparency and equality in pay and helps level the playing field.
In addition to this, a salary range can work as an indicator to under or over qualified candidates. This can help to reduce applications from candidates who are unlikely to meet the criteria for the job role in question
Increase applications from the ‘Gen Z’ demographic
Over the last few decades, attitudes towards the world of work have changed significantly. The latest Gen Z demographic (people typically considered to be born from the mid-1990s to the early 2010s) are looking for a job that matches their values and salary expectations, and are less likely to apply for a role that doesn’t post the salary in their job ads.
Furthermore, it’s considered that 18-35 year olds are more likely to have a negative perception of an organisation if there is pay secrecy, as they themselves are more open about finance and more likely to discuss their compensation and benefits.
Generally speaking, applying for a job can take between 30 - 90 minutes which is a considerable amount of time if the candidate is unsure about the suitability to the role due to a lack of salary displayed. By making this one small change, employers may experience a new wave of quality applications from applicants who decided it was worth their time to apply.
Builds trust and improves retention
Providing a salary range on a job adverts demonstrates transparency and builds trust with jobseekers who are considering applying for the role. By setting clear expectations from the outset, you are demonstrating that you’re transparent in your approach to recruitment which can enhance your employer brand.
By including a salary range on your job advert, you can be confident that a jobseekers salary expectations have already been met which can save time in salary negotiation or candidates dropping out altogether down the line.
Salary ranges give pay structures and a framework for wage progression, encouraging employees to understand their career development. By being transparent, you can build trust with employees which improves retention.
Attracting and retaining the best talent is hard enough, and including salary information can contribute to a better recruitment experience for both candidates and employers.
People work harder, feel valued and are more engaged, when they know everyone is being paid fairly.
Recruitment services from Spencer Clarke Group
If you’re competing for talent in 2024, discover how recruitment agencies give you a competitive edge in our recent blog.
If you’re struggling to fill a role, why not check out our recruitment services - or simply call us on 01772 954200 to see how we can help. One of our consultants will be happy to listen to the challenges which you are facing and advise on the best possible solution for you.
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Who is Spencer Clarke Group?
Since 2017, we’ve been working hard to reshape and innovate beyond the mechanics of recruitment. From the way we conduct business, to our offices in Lancashire, we are driven by a commitment to effecting positivity.
Recruitment means more to us than matching candidates and clients. From individuals seeking their next career leap to enterprises aiming for unprecedented growth, we understand the importance of finding candidates a job with the ability to boost their salary.
As we continue to evolve, we also understand the value in a job that prioritises and improves candidates standard of living, work life balance and their mental health.
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