5 reasons to include a salary range in your job posting
We don’t have to tell you. The labor market is tight. Are you also wondering how to attract candidates? The first step is your job posting. A straightforward way to profile your company in the job market at a glance? Specify a concrete salary or realistic range in your job posting.
Did you know that in New York City that’s even mandatory since May 2022? The European Commission is also considering requiring companies to include salary information in job postings. Find out here the five reasons why it pays to include a salary indication.
1. Salary is an important pull factor
Pull factors are the reasons why an applicant would choose a particular job or employer. In other words, what an applicant considers important. Across different target groups, salary is one of the biggest pull factors, as are job content and company culture. The Workforce Preference Survey by PwC Belgium and the Labor Market Behavior Survey by Intelligence Group show this.
Can you offer a competitive salary? Then don’t hesitate to unpack that. And don’t forget fringe benefits such as a company car or hospitalization insurance. You will only attract more candidates. Including pull factors and terms of employment in your job ad provides you with up to 350% more conversion.
Don’t want to pin yourself down? You don’t have to mention a fixed amount. With a salary range you immediately put yourself in the market.
2. Save time and money
A salary indication in your job posting not only ensures more candidates, but also more suitable candidates. If you immediately state the salary that someone can expect, only people who agree with your proposed range will apply. A form of pre-selection. Forget tiresome application processes where candidates drop out because they don’t get the salary information from the start.
And what if the salary you offer is not that competitive? Then it’s also worth including your range in the job posting. You won’t get resumes from applicants who only accept a higher salary. That way, you don’t have to waste effort on people who wouldn’t take the job anyway. That saves a lot of time and money.
3. Differentiate yourself from other employers
Do you offer a “market wage”? Then you’re no different than most other companies looking for new talent. Avoid empty words and make it concrete with a salary range. You’ll immediately stand out among other job postings.
Even though job seekers attach great importance to the remuneration of a position, salary information is still too often missing from job postings. If we look at the Dutch job market, we see that 66% of vacancies do not mention a salary indication in their vacancies. While candidates do expect this. Indeed, 4 out of 5 job seekers are less inclined to apply if there is no salary information in the vacancy text.
By providing a salary range in your vacancy, you meet the expectations of potential applicants and distinguish your company from the competition.
4. Emphasize a transparent company culture
By mentioning a salary (range) in your vacancy you not only stand out, but it also says something about your corporate culture. And for those who have read about it at reason 1: company culture is another important pull factor for applicants.
If you communicate about the salary for a position, then you radiate transparency. In this way, you immediately generate the trust of potential candidates. You lower the threshold to apply and attract more applicants.
This transparency also helps close the gender pay gap. Does your company also want to fight gender inequality? Then including a salary indication in your job posting is a step in the right direction.
5. Score better in Google for Jobs
In recent years, we have seen a gradual increase in the number of job postings that mention a salary (range). That comes with the arrival of Google for Jobs in August 2020. In fact, the new job platform has designated salary information as a ranking factor for job postings.
Do you include a salary indication? Your job posting appears higher in Google for Jobs and gets more visibility. Then, of course, you can count on more applications.
Mention the salary on your next vacancy? A no-brainer. Curious about common salary ranges for jobs in sales and marketing? Read our Salary report