How to stop other companies from stealing your candidates

There is nothing more frustrating than going through an entire recruitment process and then losing your chosen candidate at the last hurdle. As well as the frustration of losing someone you thought would be a great fit for your company and who possessed all the right skills for the job, a lot of time and money will have been wasted.

Whilst there is always a risk that good candidates are going to get poached, there are a few things you can offer a potential recruit to show the benefits of working for you. Doing this is becoming increasingly important for many companies because with the market picking up, clients have had to start raising their game with regards to the benefits they are offering new employees.

Offer a competitive salary

It is vital to ensure that they salary you are offering employees is in line with the current market. If you are paying much less than other companies but expect your staff to work the same hours, possess the same skills and do the job to the same standard, you are going to struggle to find quality candidates.

Explain your benefits package

When looking for a new job, there are many candidates who don’t factor the value of the benefits they will receive into their salary. The most common reason for this is that they simply don’t understand the financial value of a pension, healthcare or any other benefits you may offer. When recruiting for new members of staff, think about illustrating these benefits to them in a clear and obvious way so they can clearly see how much better off they will be every month because of this.

Offer extra perks

Unfortunately, a competitive salary and benefits package alone won’t really set you apart from your competitors. This could mean that if another company approaches your candidate or existing member of staff, they may be tempted to stray if it’s closer to home or they simply fancy a change of scenery. However, you can turn this around by offering your employees ‘soft’ benefits. Duvet days, pizza Fridays, flexible working hours and running competitions are all great incentives to keep your staff loyal and happy.

Provide opportunity to progress

Although salary and benefits are two major contributing factors as to whether or not someone will accept and stay in a job, employees are looking for a lot more when it comes to their long-term career plans. The vast majority of people will only accept a position if they know that there is going to be an opportunity for them to develop their career and progress within the company at some stage. Believe it or not, a survey that was published in September 2012 revealed that those working in finance jobs are more likely to leave their current company if their role is failing to meet their expectations rather than because of the salary and benefits they receive.

When you’re in the market for a new job, what is the most important thing to you? Are you driven by money and benefits or would you prefer better opportunities to progress your career?