Attracting and retaining talent in today’s competitive job market is essential to ensure your growing team is a success.

By offering a competitive salary and compensation package you can ensure your organisation remains attractive to relevant and qualified candidates.

Check out our top ways to ensure the salary you are offering is right for the position you are hiring for:

Factor in experience and education

Consider how much experience or how many qualifications the candidate would need for this role. Those with higher qualifications and many more years of experience in the industry will
command higher salaries but could be invaluable to your organisation. Be sure to understand the average compensation for individuals with the same expertise.

Conduct Market Research

Look at job adverts from other organisations that are of a similar size and industry to you. If the role is very similar in terms of tasks and requirements then factor in these competitor
offerings to ensure yours stands out and in line.

Use a salary range but be prepared to pay the top amount

Once you know the average salary for the role then set your range around this. Set the requirements you need candidates to meet in order to achieve the higher level of this and also be
prepared to pay it if they meet these.

Consider employee benefits

Aside from salary, more and more candidates are considering other benefits offered. A comprehensive benefits package will make your role appear far more attractive as an overall offer even
if the salary is slightly lower than others.

Be transparent with what you can offer

Be transparent with your salary range and what you require in order to achieve this. Clearly communicate this throughout the process to ensure candidates who apply and progress have a good
understanding of what you intend to offer.