Offering an Executive Candidate a package that is too good to refuse!

Knowing what a candidate will say “yes” to is every recruiter’s job. But the package can be both the deal maker, and the deal breaker. 

You need to ensure that the offer is both desirable, and considered and aligns to their personal requirements. Remember you want this individual to join your team and not the competition and you genuinely believe they will make a positive contribution to your business.

What considerations are outside of the package?

- Location

- Flexibility

- Job Title

- Work Schedule

- Defined responsibilities of the position

Without the above covered off it will be impossible for a candidate to say “yes”.

The negotiation

The conversation over an offer will take time, and it is essential that you understand all aspects of what a candidate is seeking in order ensure that you are satisfying the candidates requirements. If you are using a recruiter they will be able to support you with this.

The key factors will be:

- Basic Salary – Generally this is defined from the beginning, but remember the goal-posts can sometimes move as the candidate learns more about the role

- Bonus Incentive – This must be defined clearly with an outline of how it will be rewarded, with out this it is just "pie in the sky"

- EMI Scheme/(Share Options) – What is the vesting period, are there loans to buy stock etc

- Health Insurance

- Additional perks such as – Tuition Costs for candidate and their children, Car Allowance, Transportation Allowance, Housing/Relocation Allowance, Wardrobe Allowance, Club Membership Fees etc

- Executive Coaching – See more on my article why executive coaching is more popular than ever

- Pension – Every executive candidate will have one eye one day on their retirement, what will be contributed by them, and will it be matched by their future employer.

- Termination Period – If the contract is ended by either party, what will paid to the candidate, and will the share options need to be sold.

-   Non-compete - This should realistically be over a time period, and a list of companies should be pre-agreed as it can seriously limit future job opportunities should an employee leave their new employer.

The basic salary is the headline figure, but you need to ensure that this is supplemented by other supporting benefits to ensure that your offer is compelling enough for them to accept.

Throughout any recruitment process I will always be asking my candidate what their view is on the opportunity, and if the initial conversation we had on compensation will still be viable for them in order to keep my clients informed. Do they have an reservations upon the role, would anything stop them accepting the role. 

It is important that the candidate feels that they know enough to make an informed decision prior to accepting a role, but it is essential that if a client is going to make an offer that they make sure it is compelling enough to be accepted.