When browsing places like Indeed or Google for Jobs, it is easy to notice the majority of job listings not include a salary range. Although most recruiters and talent acquisition professionals are taught to avoid revealing pay rates until later in the interview process, there are plenty of benefits to being upfront and transparent about compensation. Here are a few reasons why you should consider posting your next job opening with a salary range included:
- Applicant Volume – Research has found you are likely to receive 30% more applicants per posting if you include compensation information. Run a quick search for any job title imaginable and you will see there are dozens of listings for job seekers to consider. Many applicants limit their results by only viewing job ads they can see fall within their desired compensation range.
- Search Engine Ranking – Ever wonder why job descriptions with the same titles appear higher than others in the search results? Many search engines and job boards assign listings a ranking based on the information they provide to job seekers. Google for Jobs specifically assigns a higher score to job ads that include pay rates. Even though places like Indeed and LinkedIn use a “pay for exposure” model, the free postings as well as the postings with the same daily budget are ranked in an order based on data points like this.
- Saves You Time – How many times have you found a great candidate and had them go through your entire interview process only to later find out their salary expectations were outside of your budget? By including a salary range in your job listing, each applicant already knows the maximum amount your company can offer before they apply. This can help you avoid a tremendous amount of wasted time with the wrong interviewees and allow interviewers to increase focus on their general responsibilities.
If you are curious about other ways to optimize your applicant flow, contact the job description optimization experts at firstname.lastname@example.org to learn more.