6 Tips on How to Discuss & Negotiate Salary / Compensation

Filed under: Redfish Speaks, Salary

6 Tips on How to Discuss & Negotiate Salary / Compensation

By: Jon Piggins, Director of Business Development

Redfish Technology

 

The Pay Equity & Salary History regulations that are being adopted by more cities & states are making the discussion around compensation a bit tricky. Back in the “old days” a recruiter or company would simply ask “How much are you making now?” and even request W2’s to support the figures provided. The questions you’ll most likely get today are “What are your salary/compensation expectations” or “what sort of compensation range would you need to consider making a move?”.

 

While laws surrounding the topic of compensation are well intentioned as an effort to chip away at pay inequity, they have created a bit of ambiguity around the subject. As recruiters, we talk to candidates & companies about compensation all the time and here are some recommendations to help you navigate the matter, with recruiters, hiring companies or even your current employer.

 

Do your homework & Educate yourself on the market: There are plenty of compensation surveys & calculators out there…here are a few common ones we often share with our clients & candidates.

https://www.dice.com/salary-calculator
https://www.payscale.com/salary-calculator
https://www.glassdoor.com/Salaries/know-your-worth.htm
https://hired.com/salary-calculator

 

Ask your recruiter: There are times when our clients have asked us to leave compensation open, but we try to nail it down to at least a range. You can also ask your recruiter…we spend every day talking to candidates, companies & each other about the current market, so any good recruiter should be able to give you a realistic estimate of someone with your experience, education, etc. is making these days…and don’t let initial figures rule anything out. We recently had a company peg their comp range at $170-$180k/yr & wound up offering someone well over $200k, but they were able to justify it because of how much our candidate was brining to the table (essentially a hire & a half).

 

Flip it: A great way to deal with questions surrounding your compensation expectations is to turn it back on your interviewer. Something like, “If it turns out that I’m the person you hire for this position, I’m sure we’d be able to reach a mutually agreeable salary, as I’m willing to be flexible. Can you give me an idea as to what the budgeted salary range is?” You’re not trying to be evasive, you’re establishing even footing & looking to have an open discussion around compensations…plus it frames things well, that you’re optimistic you’ll be able to figure things out if it turns out that there’s a fit and mutual interest.

 

OK, you’ve made it past the initial “How much do you (want to) make?” and “What does the position pay?” stage and we’re moving in the direction of an offer…here are some tips to help you across the finish line.

 

Provide context, your “why”: Its one thing to say “I need $180k to even look at something new.” Vs. “I’m really interested in what ABC Company is doing, but I’m currently at $180k with 2 kids in college & a mortgage in Mountain View, plus my Mom just moved in & we’re helping to take care of her until we find a more permanent option.”. Explaining your “why” gives context and humanizes things, so don’t be afraid to share some insight into what’s driving your compensations expectations and needs.

Be Flexible: Beyond cash, what else is important to you? e.g. Benefits, RSU’s/stock/options, opportunity, track record of the founders (have they had successful exits?), commute? Don’t forget to take a holistic view of the compensation package. We have many clients who work hard to not just remain competitive in the marketplace from a cash standpoint, but go above & beyond by offering benefits like; school or home loan pay downs, 529 education fund donations for employee’s children, and mandatory paid vacations.

 

Leverage (how to use it properly), “If-Then”: Another mistake we see is when people simply keep asking for more money to see if they can get it. Assuming you’re interested in potentially working at a company, figure out what you’d need to work there, and quantify your needs. Help your potential employer by giving them something when you’re asking them for more money, benefits, stock…it means a lot more to be able to extend and “If – Then” commitment vs. “can you increase the offer?”. It’s reciprocal, you’re giving your commitment in return for their increased offer, plus it gives your hiring manager the internal leverage to get approval for the increase…they’re not just asking for money, they’re guaranteeing a hire if the increase is approved. It goes something like this; “Based on our conversations, I believe I’ll be a good fit at “ABC Company” because of (X, Y, and Z). I know this position was slated for $150k/yr, that’s currently what I’m making. My expectation when I started looking for a new position was at least a 10% bump and if we can get to that I’m ready to give my notice, decline any counter offer & start within 2-3 weeks.”

 

Be Realistic: the Curse of the “Golden Handcuffs”: We get people coming out of the “FANGS” or other large, well established tech companies with deep pockets who say they’re bored & want in on the exciting startup world, but they want to have their cake & eat it too…they still want $350k/yr from a 20 person Series A company where the founders haven’t pulled a paycheck for 6 months. There’s a happy medium that needs to be reached & you have to be realistic about the risk-reward…and big companies aren’t always less risky. A quick way to fix a bad quarter or two @ a big company is to lay off a few thousand employees, especially the expensive ones.

 

The subject of compensation can be a touchy one and it isn’t something that most people deal with on a regular basis. However, there are plenty of ways the topic can be managed from initial conversations through to an offer. If you have any questions, or could use some help navigating the subject of “money”, please feel free to CONTACT US.

5 Great Benefits & Perks to Attract and Retain Employees

Filed under: Best Practices, Hiring Strategies, Offers / CounterOffers, Redfish Speaks, Talent Acquisition

5 Great Benefits & Perks to Attract and Retain Employees

By: Jon Piggins

Director of Business Development, Redfish Technology

 

In today’s tight labor market, competition for top talent continues to heat up. We’ve seen some of our clients increase their hiring rates by offering benefits & perks beyond what’s now becoming standard, things like; unlimited vacation, “make your own hours”, 100% paid health/dental/vision coverage. Here are some of the best perks we’ve seen recently.

 

Vacation reimbursement: “Unlimited” vacation is great…if you use it. Turns out that many employees are so busy that they never wind up taking advantage of the benefit and the company winds up with stressed out, tired workers. One company we work with decided to solve the problem by creating “vacation reimbursement”, $3,000/yr per employee, can’t take it as cash & have to use it each year or you lose it.

 

Student loan paydowns: With 44.7 million borrowers owing more than $1.5 Trillion in student loans, the U.S. is drowning in school loans. Not just a financial burden, student loan debt can be stressful & limiting. We’ve had a few clients begin to offer monthly contributions to their employee’s loan payments, either by subsidizing the amount they had to pay or by matching payments (up to a limit) therefore helping to pay off the loan(s) sooner (sometime 7-10 years sooner).

 

529 accounts for employee’s children: Think of a 529 account like a “Roth IRA” for college. Contributions are invested & when it’s time to pay for college (tuition, room & board, books…) the money can be withdrawn without penalty or taxation. It’s a nice additional way to help employees beyond the traditional health savings & retirement plans most companies offer.

 

New baby fund: Have a baby, get $4,000. That’s what Bay Area based client of ours decided to start doing (diapers are expensive!). Seriously though, as wonderful as having a child can be, it’s expensive & stressful. Getting a nice chunk of change & a good break for maternity/paternity leave is a great perk for your workers.

 

Housecleaning & Laundry Services: Put in a 60 hour work week & then have to deal with cleaning chores and laundry…no thanks. We have a longtime client in LA who provides weekly laundry and twice monthly house cleaning services for their approx. 100 employees. Simply bring in your clothes in a big nylon bag on Monday, it gets picked up at the office & comes back on Wednesday cleaned and folded.

 

The great thing about these benefits is that they’re done in good spirit…yes they’re self-serving for a company in helping to attract & retain talent and increase productivity, but they’re also considerate towards employees with the goal of reducing their stress & burden and helping to make their lives a little easier.

The importance of Onboarding – what to do after an offer is accepted and before a new hire’s start date

Filed under: Best Practices

The importance of Onboarding – what to do after an offer is accepted and before a new hire’s start date

Perhaps a sense of relief more than anything, it’s a great feeling to have a candidate accept an offer to join your company, especially in today’s competitive market. It would be understandable to be ready to move on to the next pressing priority once you’ve received a verbal acceptance & signed offer letter…but your job is not done! The importance of a comprehensive onboarding process for new employees can’t be ignored and it needs to begin when an offer is extended (or even sooner).

The time between an acceptance & a start date is a critical one in the hiring process. The mistake we’ve seen some companies make is to assume an accepted offer means the recruiting/hiring process is over and go quiet on their new hire, assuming they’ll just see them on their 1st day in a few weeks. They’ve failed to recognize that other companies & recruiters are continuing to court your employee to be, counter offers are often made by current employers, and human nature may kick in as “buyer’s remorse”. You want to do everything you can to reinforce a candidate’s choice to join your company & make them feel a part of your team…preferably starting with the interview process itself, but definitely once an offer has been extended.

It doesn’t take a huge effort or expense…here are some ways to help secure your new hires:

Have a personal touch: Have some of the people involved in the interview process reach out with a quick congratulations email, take your new hire out to lunch or have them join a company event (happy hour, training session, etc) before they actually start. It helps to reinforce their decision to join your team and solidify in their mind the thought of working for your company.

Make sure HR is involved right away: They should be providing important information about benefits & required paperwork shortly after the acceptance of the offer, so that it’s all completed & any questions have been answered before the start date.

Welcome package: Our clients who send out “welcome packages” to new hires say they get great feedback on the practice. Examples include; company branded gear (shirts, coffee mugs, phone cases), an info kit with articles about the company, stickers, balloons…they all go a long way in making a new hire feel special.

Have the hiring manager & peers reach out: A quick note from the person your new hire will be reporting to as well as from a peer/fellow team member welcoming them & offering to answer any questions or provide assistance (eg. How long does it take to BART in to their stop from the East Bay) goes a long way in making them feel welcome & supported.

Brag: Tell the world about your new hire, let everyone on Linkedin, Facebook, Twitter, etc know how excited you are to have brought them on board. It will make your new hire feel proud about their decision, it’s great PR, and its FREE!

Have everything dialed in for day one: Have their preferred laptop ordered & waiting for them, take a picture of their space once it’s all set up so that your new hire can think about how they might personalize it (and subconsciously, continue to think & imagine themselves working for you).

These are just a few ways to make your new hires feel like part of your team before their actual start date…and while they’re still being courted in today’s tight market. If you’d like to know more successful strategies we’ve provided for our clients, contact us today!

Jon Piggins

Jon Piggins / Redfish Technology
Director of Business Development
O: 208.450.9511
www.redfishtech.com
www.linkedin.com/in/jonpiggins/
Building Growth-Mode Tech Companies with Hand-Picked Talent Since 1996

External Recruiting Resources and Services – You Have Options!

Filed under: Redfish Speaks

External Recruiting Resources and Services – You Have Options!

 

By: Jon Piggins, Director of Business Development @ http://www.redfishtech.com

http://www.linkedin.com/in/jonpiggins/

 

External Recruiting Resources and Services

 

Many companies are not aware of the options they have when considering the use of external recruiting services. They often assume all recruiting firms are the same, providing contingency searches for a % of a candidate’s salary upon a successful placement.

 

A good recruiting firm should offer you options and even customize their solution. Have a number of hires to build our a sales team? Recognize the benefit your recruiting partner will realize from multiple placements and negotiate a flat fee per placement to help with budgeting & costs. Need to replace a VP? Engage with your recruiting partner on a retained search to ensure confidentiality & exclusivity. Is there seasonality to your hiring plans or do you need the flexibility of scaling your recruiting efforts (up or down)? Take advantage of the hourly services of a dedicated recruiter (or team of recruiters) and adjust your hours & spend as needed. Need to fill a specific role quickly? Sign on to work with your recruiting firm in a low risk contingency basis, where you only pay if a successful placement is made.

 

As you can see, rather than a question of whether or not to use a 3rd party recruiter, you should be asking how you should best utilize external recruiting help for your specific needs. Here are the services Redfish provides for our clients. We also create customized offerings and combine our services for our clients…again, it’s all about how, not if we can help.

 

Redfish Technology’s Recruiting Service Offerings:

 

CONTINGENCY
When? You need a challenging role filled quickly – one that requires true “headhunting”, finding people who are not actively looking.
– Simple, one-time payment based on a % of the 1st years’ starting salary.
– Can serve as a productive compliment to your recruiting efforts, or act as the Recruiting function for your company.
– Low risk, no expense until a successful placement is made.
– Full cycle recruiting, from sourcing candidates to managing the interview process, collection of references, and the negotiation of offers.
– 30 Day guarantee, should a candidate resign or be terminated within that time, with the exception of downsizing or lay-off, Redfish will replace them at no additional cost.
– Immediate results, recruiters are paid to fill positions as quickly as possible…their income depends on it.
– Leverage our network and recruiting tools, including Linkedin job postings, at no additional cost.
– Access to entire team of Redfish recruiters’ network of candidates.
– Dedicated Redfish recruiter assigned to your account. You’ll get the benefits of our entire team working on your role(s), with the efficiency of working with a single point of contact dedicated to your company.

 

HOURLY (Recruiting as a Service)
When? You have multiple hires across departments, or anticipate that your hiring needs will vary throughout the year.
– Reduce & control your recruiting expenses: flat hourly rate for multiple placements vs a % of salary or retainer for each placement made by an agency.
– Outsource your recruiting function at a fraction of the cost.
– No infrastructure expense for ATS or other internal recruiting tools.
– A quick way to get help when you need to make multiple hires.
– Scale as needed, we can adjust our hours (and your spend) based on your changing needs.
– Full cycle recruiting, from sourcing to managing the interview process, collection of references, and the negotiation of offers.
– Leverage our national network & recruiting tools, including Linkedin job postings, at no additional cost.
– Full cycle recruiting services are included and tailored to match your processes & procedures.
– Dedicated Redfish recruiter assigned to your account. You’ll get the benefits of our entire team working on your role(s), with the efficiency of working with a single point of contact dedicated to your company.

 

FLAT FEE
When? You have less than 10 hires for the same/similar position or department over the next 6 to 12 months.
– Flat monthly fee, receive a discount with a 6 or 12 month commitment, and control/fix your recruiting expense.
– You need opportunistic resumes sent your way throughout the year. Redfish will always pitch your company to relevant candidates and introduce them to you as potential “opportunistic hires”.
– 30 Day guarantee, should a candidate resign or be terminated within that time, with the exception of downsizing or lay-off, Redfish will replace them at no additional cost.
– Full cycle recruiting, from sourcing to managing the interview process, collection of references, and the negotiation of offers.
– Fees are often lower than retained or contingency.

 

RETAINED
When? You are looking to make a very senior, high profile or confidential hire.
– Fixed fee per placement based on a mutually agreed upon median pay rate for a specific role (1/3rd up front, 1/3rd 30 days in, 1/3rd 30 days after placement).
– Redfish plays an important role in high profile or confidential retained searches, maintaining discretion and navigating delicate situations and negotiations.
– Extended 90 day guarantee, should a candidate resign or be terminated within that time, with the exception of downsizing or lay-off, Redfish will replace them at no additional cost.
– Final 1/3rd of payment is waived if a successful placement is not made within 90 days.
– Exclusive 1st right of refusal on all candidates submitted for your roles.
– Priority & exclusivity, as Redfish limits retained service for a maximum of 4 clients at any given time.
– Full cycle recruiting, from sourcing to managing the interview process, collection of references, and the negotiation of offers.

How Do You Source Talent?

Filed under: Employer, Hiring Strategies, Recruiter / Recruiting, Talent Acquisition

How Do You Source Talent?

Companies source talent online, offline, internally, externally, and different methods work better for some than others.

Talent Pipeline

A great source of sourcing info:

 

The SilkRoad Top Sources of Hire annual report looks at client data from the SilkRoad Recruiting ATS, which is used by companies ranging in size from small-to-medium businesses up to vary large companies across industries like IBM, eBay, and L’Oréal.

 

Interview or Hire as metric?

 

This is always a fun report to read and compare and contrast with the sources of hire of veteran growth-mode recruiting firm, Redfish Technology. Redfish primarily serves start-up to mid-stage growth mode companies very focused Read more »

6 Reasons to Hire Now!

Filed under: Best Practices, Employer, Hiring Strategies, Human Resources / Capital, Talent Acquisition, Talent Retention

6 Pack of Reasons

6 Pack of Reasons

Whether replacing an employee or recognizing the need to grow your team, there’s compelling reasons to make that hire now.

 

It’s true you are saving on payroll and employer costs, insurance and perks, but these short-term gains effect a larger cost on long-term profitability, and can create unanticipated risks.

 

Making your necessary hire in a timely manner will:

 

  1. Boost Productivity

When shorthanded organizations strain existing resources and quality suffers. If overly strained, attention to detail and pride in work decrease, errors, illness, and accidents are more likely, factors which significantly affect productivity.

 

  1. Decrease Time to Market

Whether it is getting a new health gadget into consumer’ hands, or releasing the new version of your software, understaffing is going to impact project management and coordination, it risks delaying production and subpar quality, and can cause costly missed opportunities.

 

  1. Ensure Agile Happy Employees

Straining your team will increased stress. This impacts the entire work environment. Maximize your team’s performance by getting the right people on-board when needed and keeping a smooth, agile workforce who is happy to get the job done right.

 

  1. Lower Personnel Costs

Yes hiring when you need staff keeps your personnel costs down. When your employees are happy and stay invested: you spend less time and money on hiring new ones, you have less absenteeism and accidents, and there’s less training of new employees and less management involved in keeping things running smoothly.

 

  1. Increase Customer Satisfaction

At the end of the day, if your customers aren’t happy with your service or product, your business risks failing. Decreased customer satisfaction is almost inevitable if you can’t provide the level of service necessary. And we know unhappy customers are very vocal about their dissatisfaction, whereas happy customers can be the biggest brand evangelists out there.

 

  1. Stoke Competitiveness

When a company is fully staffed, completely concentrated on business, and everyone is on board tuned into the end goals, the company is primed to meet and exceed current commitments, as well as to identify and take advantage of opportunities in the marketplace before competitors who are dealing with staffing issues and not focused.

 

So get hiring!

 

Need help? – We make hiring top talent easy, it’s what we do!

Contact us today at 408-745-8260/208-788-8260, or fill out a job order online.

Redfish Technology: Building Growth-Mode Tech Companies with Hand-Picked Talent.         

Social Recruiting – What You Need To Know

Filed under: Best Practices, Hiring Strategies, Recruiter / Recruiting, Redfish Speaks, Social Media, Talent Acquisition

Social Recruiting – What You Need To KnowSocial Recruiting – What You Need To Know

Buzz buzz buzz – Social Recruiting is all the buzz.

But is it more than a fashion trend to catch your attention? Will it really help you to hire? What do you really need to know about social recruiting?

 

So what is social recruiting?

 

It’s called having a conversation –

 

Social recruiting has been around since before there was a term called social recruiting. It’s basic human nature to talk about opportunities to your friends and people you like. And there’s an obvious head start in terms of cultural fit if you are reaching like-minded people through your network, so yes, social recruiting is an important way to acquire new talent. Read more »

Recruiting Priorities: E-Learning, IT Agility Application, and PPM Software Solutions 8-5-2014

Filed under: Jobs/Employment

Weekly Tech Career Opportunity Spotlight2014-08-5-Redfish-Jobs

 

Here are some of the key opportunities that are priority hires for us this week.

You can find details on these jobs and other fabulous tech career opportunities on our website, or check the Redfish Technology career page on LinkedIn.

Follow the Redfish company page for updates on LinkedIn.

 

This week’s priority recruiting focuses on the dynamic tech spaces of E-Learning, IT Agility Application, and PPM Software Solutions… Read more »

Recruiting, Staffing & Employment News – July 2014

Filed under: Recruiting, Staffing & Employment News

 

Slack in the Market?staffing, recruiting, employment news image

 

No slack here at Redfish Technology!

June recruiting covered a lot of high tech territory with hiring in Customer Loyalty Software Technology, Semantic Intelligence Software, ePayment Stealth Mode Startup, Social Music Connection Platform, and Mobile Applications sectors. The hottest roles hired for included: Project Manager, Senior Account Executive, Senior Database Administrator, Data Team Manager, and Senior DevOps Engineer. Read more »

Tech Trends: AdTech Companies are Hot!

Filed under: High Tech / IT / Software, Industry Info, Tech Trends

AdTech Companies are Hot!AdTech Companies are Hot!

Ad technology companies are hot, with some selling for as much as eight times what they earn before taxes. With the massive migration to mobile, there’s a particular run on mobile adtech firms.

 

Adtech merger and acquisition activity was furious in 2011 (60 deals valued at a total of $4.5 billion according to investment bank Coady Diemar Read more »