How to Make a Job Offer?
After passing the interview process of a job, the next phase is setting up a job offer negotiation. In the early stages, a job offer is still negotiable, and both the employee and employer can even influence and decided what will go into formal writing as an official Job offer.
Generally, a job offer letter entails the following information;
•The job benefits
•Position job title,
and other terms and conditions of employment.
To make the perfect job offer, you need to understand some specific things. Knowing these things will help set you on the right path as a better negotiator. Negotiating a job offer is very dependent on the type of position you are offering. So if you think the job position you have opened requires some talks, it is always best to arm yourself beforehand.
Here is a simple and easy to follow steps you might want to consider when negotiating an employment offer.
Ensure a proper hiring structure is in place
The first step of hiring usually involves the human resource department staffs. Once the potential employees pass all the test and interviews, it becomes the job of the hiring manager to make the final decision on whether to hire such an employee and the salary compensation attached to the position. During the initial stages, all the details about the candidates should have been collected. These detail should also include the salary expectation range of each candidate. Using this information, the hiring manager or a point person for the compensation discussion can offer a better job negotiation for the selected candidate.
Know your company’s budget
Consideration of the company’s budget by the management usually precedes the need for a position to be filled. Knowing what you can afford to pay beforehand makes it easy for you to understand your limits when it comes to job offer negotiations. As a result, you won’t be agreeing to a salary you can’t afford to pay on impulse.
Discuss Compensation and Benefit During Interview Stages
Making sure that salary compensation and benefits are well discussed during interview stage helps to avoid misinformation and misunderstanding amongst candidate. Everyone will be well informed this way.
Negotiation is Only available to higher level positions
Low-leveled position often has a fixed salary range. In case of high-level job position, negotiation might be required. Knowing the industry standard pay for such a post and your hiring budget will go a long way in ensuring that you don’t underbid or overbid. Sometimes other external factors like; the cost of living, the value of the employer, how fast you want to hire, etc. Can influence your decisions to go beyond the budget range. This, however, is not always recommended.
Informal negotiation before making the offer formal used not be overlooked
Making sure you have negotiated and discussed the offer of employment thoroughly before putting things into writing is a very crucial thing to do. Informal negotiation helps to save time, energy and money. By reaching or not reaching an agreement during this stage, you will know whether to move forward with the employees or still keep your position wide open.
As it was said early, discussing compensation at early stages goes a long way to save both employer and employees resources.
Upon reaching a verbal salary agreement, the next step is making it formal. The compensation plan is drafted and sent to the employee for him or her to append a signature to it. Once this is done, the compensation becomes formal and an official agreement is struck.
In cases whereby the employee decides to reinitiate the negotiation talks after receiving the previously agreed upon offer, formally. It is always better to consider looking elsewhere as this speaks a lot for the employee’s integrity.
If all goes according to plans, both the employee and the employer will reach a mutually beneficial agreement, which further enhances a conducive working environment.