"Satterfield Renzenbrink Associates works hard to understand both client and candidates early in the process...that really helped us later to quickly get to a win/win offer with top quality candidates."
-Bill Gentner
President & CEO
Kao Brands Company
President & CEO
Kao Brands Company
A Compensation Negotiation Strategy
How to reach a win-win agreement
Key principles are:
- Both company and candidate need to sincerely try to understand the other's needs, desires and limitations.
- Prioritize compensation components - for both parties
- Know where to try to have flexibility
- Prioritize compensation components - for both parties
- Companies need to set broad compensation expectations early in the recruiting process
- "Broad" is a key word here - don't get too caught up in compensation details early - this is about finding balance in the process.
- ALWAYS have a negotiating intermediary (your recruiting firm).
- Fastest way to win-win.
- On rare occasions, we've actually just negotiated deals (not recruited the person).
- Firm Close Rate = 85%+ (on offers extended)