...

What is Salary Transparency and Why is it So Important?

by | Sep 21, 2022 | Hiring Tips | 0 comments

By Eric Waldowski

Not sure how to advertise your pay plan? Candidates are looking to compare opportunities while scrolling the job boards now more than ever. Make sure the right candidate takes the time to read and potentially apply to your ad.

Indeed, among other job boards, are changing course to ensure that the employers advertising through their platforms are following new state laws related to Salary Transparency. All this means is we need to make sure the candidate has a very clear understanding of how, when, and how much they will be compensated for the role they are applying to.

If you have ever posted a job using the IdealTraits platform, you’ve seen the notice that you must justify your salary in the benefits section before posting a job. Sure you can mention the position is Base Salary plus Commissions, or that you offer Base Salary based on Experience, but true transparency is about being more specific, and this can give you a leg up against the competition on the job boards.

Candidates want to know, in detail, what they are going to make while working for you. Candidates want this salary transparency so much that Indeed now requires a salary to be listed in a job posting. If you do not include a salary in your ad, Indeed will estimate an expected salary to advertise along with your job. To learn more about these changes to Indeed’s requirements and what that entails, check out this blog post and Indeed’s announcement.

When posting an ad, it is crucial to explain in the body of the ad the when, how, and how much the candidate can expect to be paid. If, for example, we list a salary of $30-40k Base Salary, but pay commissions on average of $2500 a month, we need to be clear about this payment plan. In the salary range, we list the $30-$40k annual; unless the Candidate is guaranteed pay of more than that, on a recurring basis, that is the “Salary” per the job board guidelines. In the Benefits section and Job Description, we will advertise the additional potential commissions and bonuses.

For example “Bi-Weekly base pay with a $30-$40k base, dependent on experience; Top earners make over $2500 a month in additional commissions; Our top Earner last year made over $100,000 in total commissions and base pay”

A Candidate who reads this will have a very clear understanding of how, when, and how much they can expect to earn, based on their performance with your agency or business. The most important step in making sure that the Ideal candidate looks at your ad (and applies when they like what they see) is to advertise your competitive pay structure in a simple and transparent way.

Wow Your Applicants: Your Guide to an Exceptional Candidate Experience

Let's talk about something that's often overlooked but oh-so-important: the candidate experience. Picture this: you're on the hunt for a new team member for your insurance agency, franchise, small business, or car dealership. Eventually, you think you found someone...

Unlocking the Power of Social Media in Your Hiring Process

In today's digital age, the landscape of recruitment is continually evolving, and savvy employers are leveraging the power of social media to find and attract top talent. Whether you're a small startup or a large corporation, tapping into the vast network of social...

The Power of a Clean Desk: Boosting Productivity and Efficiency in the Workplace

In the fast-paced and dynamic world of business, the physical workspace is often overlooked in favor of digital tools and virtual collaboration platforms. However, the importance of maintaining a clean and organized desk should not be underestimated. A tidy workspace...

How You May Be Driving Candidates Away: A Guide for Hiring Managers

In today's competitive job market, attracting and retaining top talent is a priority for every organization. However, some hiring managers may unknowingly engage in practices that drive potential candidates away. Creating a positive and inclusive recruitment process...

How To: Create Job Alerts on Indeed

How To Do It: Starting from your Indeed home screen, locate the search bar at the top of your screen. Enter the title of the position you would like to receive job alerts for. Enter the city where you would like to see open positions. After completing those two quick...

So What’s the Deal with Salary Transparency?

Now more than ever it's the candidate who is interviewing us, rather than the other way around. As a result, Salary Transparency laws are being passed quickly around the nation. Why? If a job seeker does not have the salary information for the job posting they are...

Mastering the Art of Job Ads: The Power of Keywords in Attracting Top Talent

Keywords are words or phrases that help us identify the specific requirements of a job. From an employer’s perspective, they pertain to what qualities an employer is looking for in their next potential employee, helping them attract candidates best suited for the role...

Mastering Your Hiring Game in 2024: Tips and Tricks for Strategic Organization

As the dawn of 2024 approaches, it's the perfect time for businesses to reflect on their hiring strategies and set the stage for a successful year ahead. Crafting a well-organized plan can be the key to attracting top talent and achieving your hiring goals. Here are...

‘Tis the Season to Hire: Tips and Tricks for Holiday Recruiting Success

The holiday season is upon us, and while it may seem like an unconventional time to ramp up your hiring efforts, it can actually be a strategic advantage. Companies often experience a surge in job seekers, and with the right approach, you can attract top talent to...

AI-Generated Job Ads

By: Monica Donias We are so excited to announce the integration of a new feature that will take your job ad writing process to the next level. Inside of your Jobs tab, you can either create a brand new ad or make edits to a previously written ad to utilize the AI...