How Salary Negotiations Predict Future Communications
In an effort to grow your team, you’ve interviewed a handful of candidates, which has brought you to a candidate that shows amazing promise. As you present the offer, instead of accepting it as is, they counter back asking for a bump in salary. At first, some managers might be caught off guard by salary negotiators in the interview process. However, I assure you that is a good thing, because the mere fact that the applicant countered your offer can have positive implications that they will be an asset to the team.
Salary negotiators = communication aficionados
Asking for a higher salary is difficult even for those who have been in the workforce for years and years. In fact, only 38 percent of Millennials counter a salary offer on their first job. For those ambitious souls who do broach the subject, you can bet they are confident, competent communicators. These individuals are the ones who will speak up should a problem at work arise. This means that they are less likely to shy away from unpopular conversations and are more open to talk things out. Considering that people leave managers and not jobs, that communication is vital to the retention process. Not to mention, they have a vested interest in working hard.
Committed to the cause
Upping a salary is a financial investment for organizations, but it is one that will pay off. Studies have shown that well-paid employees run better operations and are more conscientious about performing well. If your employees feel valued, they will bring value to your company. Take a look at Costco and Trader Joes, for example. These companies pay well over the minimum wage, yet they still maintain impressive profits. This is because their people are more invested in their jobs, because they are essentially paid to care. These individuals understand that their employers respect their worth, and in turn, they respect the company. Well-run operations mean more clients, which is a total win for organizations. Moreover, satisfied employees are less likely to leave.
Hiring for long-term employees
As the saying goes, “if it ain’t broke, don’t fix it”— the same could be said of satisfied employees. When employees are treated well and have a respectable salary, they tend to stay with their employers. In fact, employees that are engaged and have high well-being are 59 percent less likely to look for another job within the next 12 months. Since turnover is something that every employer would like to avoid, acquiescing to a reasonable salary bump just might be the ticket to creating a turnover-proof environment.
Organizations should not shy away from salary negotiators, as they bring many favorable traits to the table. Skilled in communication, they will forge better relationships with their leaders. Organizations can breathe a little easier knowing that well-paid workers will go above and beyond in their performance. Finally they are more willing to stick around because they feel valued. Next time you encounter a realistic negotiator, welcome them, as they potentially can do wonders for your business.