TORONTO, May 16, 2013 /CNW/ - Talented professionals who accept an initial job offer may be leaving money on the table, a new survey by The Creative Group suggests. More than seven in 10 (71 percent) advertising and marketing executives interviewed said they are at least somewhat willing to negotiate compensation when extending a job offer to a top candidate versus 25 percent of respondents who are not.
The national survey was developed by The Creative Group, a specialised staffing service for interactive, design, marketing, advertising and public relations professionals, and conducted by an independent research firm.
Advertising and marketing executives were asked, "When extending a job offer to a top candidate, how willing are you to negotiate compensation?" Their responses*:
|Very willing .............................................||24%|
|Somewhat willing ..................................||47%|
|Not very willing .........................................||23%|
|Not at all willing ........................................||2%|
|Don't know/no answer ...............................||6%|
|*Responses do not total 100 per cent due to rounding.|
View the research highlights
"Job seekers may not realize it, but many companies are willing to negotiate starting salaries right now, especially with professionals who have specialized skills," said Alicia Brum, division director of The Creative Group's Toronto operations. "At the final stages of the hiring process, businesses have already invested a significant amount of time and resources to recruit a particular candidate, and they may be more inclined to negotiate to avoid losing the person to another offer."
Brum warned, however, that salary negotiation isn't without its perils. "While companies are open to salary discussions, it's important that candidates do their homework and know how to navigate these potentially sensitive conversations," she said.
The Creative Group offers five common salary negotiation mistakes and how to avoid them:
|1.||Showing up unprepared. Enter negotiations with a solid understanding of current salary trends for your position and location. Review compensation tools such as The Creative Group 2013 Salary Guide to ensure you have realistic expectations.|
|2.||Playing games. Tactics like misleading a prospective employer about your current salary or other job offers in an effort to obtain higher pay almost always backfire. It's better to be honest about your situation.|
|3.||Making it all about you. Don't base your request for a larger starting salary on the fact that you want a new car or bigger down payment for a home. You'll make a much more compelling argument by talking about the value you can bring to the organisation.|
|4.||Viewing money as the only object. Salary is just one part of the equation; a generous benefits package or opportunities to learn and grow with the company may compensate for a lower starting salary. Remember to look at the full picture when evaluating a job offer.|
|5.||Drawing a line in the sand. Giving ultimatums too early in the process may cause negotiations to fall apart. Instead, look for common ground and avoid taking an adversarial stance. How you conduct yourself during the negotiation process sets the tone for employment with the firm, and you want to start on the right foot.|
About the Survey
The national study was developed by The Creative Group and conducted by an independent research firm. It is based on more than 250 telephone interviews -- approximately 200 with marketing executives randomly selected from companies with 100 or more employees and 50 with advertising executives randomly selected from agencies with 20 or more employees.
About The Creative Group
The Creative Group (TCG) specialises in placing a range of highly skilled interactive, design, marketing, advertising and public relations professionals with a variety of firms on a project and full-time basis. For more information, visit www.creativegroup.com.
SOURCE: The Creative Group
For further information:
THE CREATIVE GROUP
Contact: Jessica Cooper