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In today’s competitive business world, corporate executives and business professionals work in a fast-paced, dynamic global economy in which shareholders expect results. Employers must compete for the services of these talented staff as often a candidate has two to three job offers. Therefore salary and employment contract negotiation during the final stages can make or break your recruitment success. You need to be prepared!
Legacy Bowes Group’s consultants are in tune with the trends in compensation and rewards management as well as the structuring of employment contracts. We know that companies today are offering candidates in “hot job” areas more than just salary, they are putting forward signing bonuses, paying off student loans, buying laptop computers and making desks out of lego! You need to know what is working in your industry and prepare an offer that will be attractive to candidates. If you don’t, you won’t be successful in your recruitment efforts and you might even lose the employees you already have.
We can assist you to:
- Research the compensation and benefit trends for your industry;
- Determine and confirm your compensation philosophy;
- Structure entrance salary arrangements which may include signing bonuses, stock option grants or relocation expenses;
- Structure long term cash and equity incentives to foster a mutually productive work relationship;
- Document exit arrangements so that each party’s interests are fully protected upon termination of employment;
- Assess the impact of the new incumbent compensation on internal equity;
- Advise on the building blocks of an employment contract such as the terms of the agreement, job description, performance measures, overall expectations, grounds for termination, consequences of change of control, non-compete protections and confidentiality agreements;
- Advise on salary negotiation strategies and options;
- Prepare managers for the negotiation interview.
Negotiating salary is part of developing your relationship with your potential new employee. It must be managed effectively so that the candidate feels valued while at the same time, your compensation philosophy is not compromised. Call us now at 204-943-0553 for assistance. After our initial meeting, we will provide a proposal outlining roles and responsibilities, project objectives, timeframes and professional fees.
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