Sorry, we won't negotiate on salary! Is this the best way to manage candidates with multiple offers?
Multiple offers are making a comeback because overall the job market is candidate short. Although they aren't as prevalent as before the financial crisis, they are causing headaches for the senior HR professionals who attended the recent eFinancialCareers roundtable in Melbourne.
One delegate said her firm has a take-it-or-leave-it approach to candidates who try to push up their pay via offers from other employers. "We say: 'It's our best possible offer, we're not going to negotiate'."
This means that good negotiators don't get an unfair advantage over candidates who are just as qualified for the job, but don't bargain as hard during the selection process. "We actually think it benefits job seekers because they know where they stand from the outset."
Taking a tough line on multiple offers also prevents potential tensions when someone with an inflated salary joins the team. "It's not fair to get an extra 10k if the person next to you, who's been there for five years, doesn't."
Other tactics to tackle multiple offers include coaching line managers to ensure they don't negotiate directly with candidates, and placing a tight time limit on acceptance. "We want to hire people who can make quick decisions," said a roundtable panellist.
To avoid getting involved in salary bidding wars, it's important for HR to emphasis other benefits such as international exposure and work-life balance. "And you have to ask whether it's worth competing for someone who is driven purely by money. Is that the kind of person you want working for you?"
Some delegates have come across graduate candidates with multiple offers. "Not all of them handle the situation well - I've seen people accept two offers. But Melbourne is a small market and if you treat an employer badly, it can affect your chances in the future."
As a candidate, have you had more than one offer? Let us know in the comments box below. You can also email your story to apac.editor@efinancialcareers.com.
