Business has been growing every month. You’ve decided to build a remote team of driven, like-minded individuals. You are overworked and need help with your workload to keep your business afloat. You have researched bringing on remote team members. They prove to be more engaged and focused on the task at hand than hiring someone in-house.
You started off the process right. You crafted the perfect job description that leads the perfect candidate your way. The only downfall is their salary requirements are very steep. You know they are asking for more than what you can afford. But you’ve interviewed many candidates to find this one and don’t want to risk losing them over an extra few dollars. Consider negotiating their salary requirements before giving up hope.
Be Realistic About Their Worth
It’s always stressful as a business owner knowing you have yet another added monthly expense. You also realize you didn’t start a business so you can do everything yourself. We hope you have been budgeting for this moment to come.
Negotiating salaries with your candidate require some mindful thinking. It’s easy to low ball an offer without considering their worth to you, your business, and the workload. Staying atop of the job market will ensure your offer will stay competitive within the field.
They know their skills will be invaluable. Many candidates ask for higher salary needs because they know there will be a lower priced counter offer. Their portfolio or resume should reflect on their talents and accomplishments. References from clients or previous employers can verify how valuable they are.
Consider Your Immediate Needs
Remember the first moment you thought about bringing on a new team member. Now you are behind on work and your days are getting longer and longer. Soon your family time will be scheduled around your business calendar. This is not what you had in mind when you decided to start your own business. And you are only getting busier every day. If you find yourself asking others when is the best time to bring on a team member, then it’s too late. Now is the time to act.
Do not risk your business, clients, health, or family because you didn’t want the added expense. Suddenly a salary negotiation doesn’t sound so bad. Does it? You must consider your immediate needs as a business owner. This alone will justify the added expense of a new team member.
It’s time to relinquish your workload. There’s an added bonus to hiring remote team members. They typically have an ample amount of experience in what you are hiring them for. It’s up to you to onboard them in a thorough manner. Once they have become acclimated to your system of processes and procedures. They will be ready to start on your most necessary tasks at hand.
Approaching The Candidate & Negotiating
Negotiating a fair and acceptable salary with a new candidate is a delicate balance. Money isn’t everything, but it does inspire them to do great work every day. Saving a little money probably won’t affect your company much. But having a stellar team can have a lasting impact. Consider their counter offer if it’s in your budgeted price range. It’s often best to accept the offer and end the negotiations there. You don’t want to lose your best candidate over a small amount of money. Also, it’s imperative that you are honest with them if their desired salary requirements are outside of your budget. Don’t immediately say no. You can mention there are other candidates you are interviewing. As this may help the negotiations along.
Get creative in your counteroffer. Sweeten the deal with some perks that won’t cost you much. Something like a flexible schedule or a service or product your business offers. Make an effort to meet their desired salary requirements. This can often convince them they are getting more perks than their asking salary. Sometimes if they are too persistent, you may have to walk away and that’s ok.
Don’t get stressed with trying to learn how to negotiate the salary. You may lose sight of what’s appropriate for your business. When negotiating salary requirements effectively. They have a very good chance of ending on a positive note.