Employers who refuse to disclose salaries with candidates are deservedly missing out on the top talent.
That鈥檚 the view of Simon Swan, founder of Manchester-based talent marketplace Hiring Hub ahead of Talos360鈥檚 exclusive 鈥樷�� event tomorrow (30th April).
Award-winning recruitment technology provider Talos360 has teamed up with 老九品茶Cloud to reveal its latest research on the best ways to motivate, hire and retain the best employees in 2024.
According to the research,聽51 per cent of candidates said no mention of salary would deter them from applying.
Swan, who forms part of a stellar panel of speakers at the event, said: 鈥淎t Hiring Hub, we still speak with employers that are reluctant but it鈥檚 a HUGE disadvantage if they don鈥檛 at least disclose a salary.
鈥淲hat candidate is going to waste their time exploring a new opportunity if they don鈥檛 know whether it鈥檚 in their salary ballpark?
鈥淚t鈥檚 like buying a car, you know whether you can afford a Fiesta or a Ferrari. Imagine if they didn鈥檛 tell you how much they cost and you spent time talking to the salesperson, taking them for a test drive, deciding what colour you prefer only to find out one costs 拢150k 鈥� and you鈥檙e priced out 鈥� and one is 拢10k.
鈥淵ou hate it. Employers that aren鈥檛 willing to share salary expectations, or just say it鈥檚 鈥榗ompetitive鈥� but don鈥檛 give an indication of what that means, deserve to miss out on the top talent 鈥� and they do.鈥�
Swan also said the sector was starting to see some 鈥榞reen shoots of recovery鈥� in Q1 after a tough 2023.
鈥淢arch was Hiring Hub鈥檚 best month for job uploads, so we鈥檙e cautiously optimistic about the coming months,鈥� he said.
鈥淚nflation, tightening financial conditions, increased interest rates, and lay-offs have left a scar on candidates, though.
鈥淭hey鈥檙e nervous, with many valuing job security over a switch right now, particularly in sectors like IT/tech.
鈥淗owever, there are good candidates on the market, and while salary expectations are tempering, people are more focused on work-life balance and flexibility than they have ever been. employers need to be mindful of this when recruiting.鈥�
Swan will be joined on the panel by Adam Ward, CEO of Airtime Rewards, which is now offering offer bi-annual salary reviews.
He said: 鈥淣umerous factors have meant that salaries are naturally inflating, however to keep up with this trend, we offer bi-annual salary reviews to ensure we remain competitive and recognise our people鈥檚 contributions.鈥�
Ward said it鈥檚 still a candidate-led market, with applicants dropping out mid process and declining offers based on counters from their employer and other companies.
Talos360鈥檚 exclusive 鈥樷�� event takes place tomorrow (30th April) at KPMG鈥檚 Manchester offices.
The other speakers include Adam Newey, head of talent at Collctiv; Janette Martin, CEO, Talos360; Dean McGlone, chief revenue officer Talos360; Senda Kavindele, partner, KPMG; and Simon Gomez, founder and director, GMZ Talent.
The discussion will look at the growing impact of technology and societal change on how employers will need to adapt quickly to future-proof their people strategy.
To register for the event click