How can you manage a candidate's unrealistic salary expectations?

1 Understand the market value

The first step is to understand the market value of the role and the candidate. You can use various sources, such as salary surveys, industry benchmarks, and competitor analysis, to determine the average salary range for the position and the skills and experience required. You can also assess the candidate's qualifications, achievements, and potential, and how they match your expectations and needs. This will help you establish a fair and realistic salary offer that reflects the value of the role and the candidate.

2 Communicate clearly and transparently

The second step is to communicate clearly and transparently with the candidate about the salary and benefits package. You can do this during the initial screening, the interview, or the offer stage, depending on your hiring process and policy. You should explain the rationale behind your offer, how it is aligned with the market value, and how it is based on the candidate's profile and performance. You should also highlight the other benefits and opportunities that your organization offers, such as career development, work-life balance, and culture. This will help you build trust and rapport with the candidate, and show them that you value them beyond their salary.

3 Negotiate and compromise

The third step is to negotiate and compromise with the candidate if they have unrealistic salary expectations. You should listen to their concerns and motivations, and try to understand their perspective and goals. You should also express your constraints and limitations, and try to find a common ground and a win-win solution. You can use various strategies, such as offering a salary range, a performance-based bonus, a flexible schedule, or additional perks, to create a more attractive and satisfying package for the candidate. You should also set a deadline and a limit for the negotiation, and be prepared to walk away if the candidate is not willing to accept your offer.

4 Educate and coach

The fourth step is to educate and coach the candidate if they have unrealistic salary expectations. You can use this opportunity to share your insights and feedback on the market trends, the industry standards, and the career prospects for the role and the candidate. You can also help them assess their strengths and weaknesses, and identify areas for improvement and growth. You can also suggest resources and tools that they can use to enhance their skills and knowledge, and increase their value and competitiveness. This will help you demonstrate your expertise and credibility, and show them that you care about their professional development and success.

5 Follow up and maintain contact

The final step is to follow up and maintain contact with the candidate if they have unrealistic salary expectations. You should keep them updated on the status of the hiring process, and reiterate your interest and appreciation for their application. You should also ask them for feedback and questions, and address any issues or concerns that they may have. You should also remind them of the benefits and opportunities that your organization offers, and the value and potential of the role and the candidate. This will help you keep them engaged and motivated, and increase the chances of them accepting your offer or reconsidering your proposal.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?