If your organization is having trouble attracting candidates for your open positions, you might quickly decide that you are not getting responses because you are not the highest paying employer. Let me assure you that regardless of the amount of money your company has, you cannot win this war with money alone. Here are three reasons why:

  1. You would have to outbid all of the other organizations in your geographic radius. There are likely 10,000 or more businesses within 30 miles of your building. Is it at all realistic as a function of your business model to think that you could outbid all of them and still stay profitable?
  2. Money is rarely the reason people are looking for a new opportunity in the first place. Money is important in a job search, but it only becomes important after someone is unhappy or unfulfilled enough to be willing to leave everyone and everyone they know behind to go work with strangers. The reason people are looking in the first place is because something is off at their current job. Most similar jobs in similar geographic regions pay within 15% of each other. If someone is choosing only on pay then you have failed to set your job apart in any other way (growth, opportunity, challenge).
  3. If people come for money, they will also leave for money. If money is the sole reason you got them, you can’t be surprised when someone else steals them away for a few dollars more.

Lastly, let’s do logic here. If you still believe that you must be the highest paying employer to succeed, but you are not currently the highest paid employer in your area… why haven’t all of your employees left?

You don’t sell your products and services just on price. You sell them on benefits and value. How could we think selling a job would be any different?

If you are looking for insight or specific action steps to grow a process within your organization to Win the War for Talent, please reach out. It’s my passion to help companies solve their talent issues, whether that is finding the right talent or retaining and developing that talent. With the right processes in place, your organization can grow and thrive even more!

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