We’ve sprinted out of the gates in 2023 and have heaps of back-to-back interviews lined up for clients who are trusting us to source them the very best talent out there.
But one of our biggest frustrations last year occurred when brilliant candidates were paired with thriving firms, but the offers made just didn’t stack up, which meant the clients went with second best candidates and the best talent being interviewed walked away from the table.
So, in anticipation of some of these interviews generating offers, we thought we’d take some time to offer our advice on how to make a brilliant offer that can only be met with a big fat ‘yes please!’
First up – take a moment to consider how much you want this candidate to become part of your workforce.
What are the repercussions of them declining your offer? Will it simply be a case of turning to your second preferred candidate who is also a really strong option? Or will it be back to the drawing board; a situation which will incur more of your time and budget and could negatively impact morale and productivity amongst your existing team.
Once you’ve taken a moment to think this through, you’ll be in a better position to think about just how good this offer needs to be.
Next step is to work out your upper limits to all aspects of the offer. So that includes:
- Salary
- Annual leave
- Pension contributions
- Flexibility
- Hybrid/remote working
- Health benefits
- Life assurance
- How long you can wait for them to start
- Bonuses
- Additional flexible benefits (retail discounts, wellbeing incentives etc.)
Now that you have all the information you need to make your offer, we always suggest that you take a moment to have it eyeballed by a critical friend. This is where our expertise really provides additional value. Recruitment for accountants and accountants alone is the very lifeblood of all that we do and no-one has their fingers on the pulse of what candidates are able to demand in a constantly changing market better than we do.
We’ll be honest with you about whether we think your proposed offer will be enough to secure a big fat yes!
And lots of you will be tempted to start low leaving space for negotiation. And to some extent this is wise, but we do have a few words of caution that we’ve gleaned through years of experience.
Starting with a low offer is sometimes all it takes for talented accountants to turn their backs and realise that either you’re not the employer for them or start to pay attention to the benefits of staying with their current firm.
In today’s market, it’s firms who care about their staff and their happiness and showcase those values with generosity and a flexible approach that are growing at pace.
Negotiations are also a form of stress and conflict and if a candidate has had multiple offers (likely if they are good!) then they will often take the path of least resistance. After the last few years nobody wants to incur unnecessary stress if they can avoid it.
This article might make you feel that we’re suggesting the candidates hold all the power in today’s market.
We’re not here to sugar coat the state of the recruitment situation in accounting right now and your assumption is spot on.
But the great news is that those who take a deep breath and build in a generous offer to their firm’s strategy are reaping the rewards and winning new business left, right and centre. It’s often a case of adjusting your mindset and as soon as you’re able to do that, you’ll find yourself surrounded by loyal, committed and talented staff who will raise the profile of your firm and the profit your Partners can enjoy.
‘My team and I are always on hand to discuss potential offers that you are considering making. For so many of our candidates it’s not always just about the salary and there can be other effective ways to make an offer competitive that won’t cost you the earth. We have plenty of case studies at our disposal that we can share with you.’
Garry Howling, MD
To benefit from working with a recruitment consultancy that knows your industry inside and out and has the experience you need to build a top-notch team, contact us today on info@publicpracticerecruitment.co.uk
