I recently offered my top tips to the Firms and Hiring Managers of BD and marketing people at the offer stage (see previous blog). Now, I offer similar tips from the perspective of the candidate:

BD & Marketing Candidates:

• Know your value in the market. Understand your market value, considering both technical background and softer skills. There’s a lot of information available to you, but balance everything that you read. And, talk to your search partner about your value and, importantly, where you fit in the range. (Typically, firms set a salary range for each role based on seniority and experience.) Understand what factors you have (or don’t have) that push you to a certain end of that range. Candidates often put themselves at the top end of a range, but may not have the skills, both technical and soft skills, to prove their worth at that top end. So, understanding the range is one thing, but where you fit in that range is another - and will differ depending on the role you’re pursuing.

 

• Disclose your salary expectation early. Share with the hiring manager or HR professional what your salary expectation is right from the start. This is easily done if you know your value in the market. (Note: disclosing your salary expectation is not the same thing as disclosing your salary, which in some states and cities is now banned; see earlier blog addressing this issue) This puts everyone on the same page from the get-go. Additionally, go one step further and inquire as to whether your expectation matches the range the firm has set for this role. Its important to have this discussion early on.

 

• You shouldn’t need to negotiate. Because you know your value and have disclosed your salary expectation, when the offer is communicated, there shouldn’t be the need for any negotiation. Everyone should already be on the same page. (Of course, if the above steps haven’t been followed, get ready to negotiate.) The only time negotiation is warranted – in my view – is if something has changed with your salary expectation along the way, for example, you may have been promoted. And, even if this happens, it should be communicated to the hiring firm straight away. There should be zero surprises at the offer stage.

 

• Accept promptly. As you are now both aligned on salary expectation and where you fit within the range, the offer that comes out from the firm will typically meet your expectations. Firms do for the most part want to offer competitive salaries and want to meet your expectations. So, accept promptly. Its reasonable to take a day or two to consider the offer and inquire as to the full benefits, but then don’t keep people waiting. It’s in both of your interests to close out the deal in a timely fashion.

 

• Counteroffer. Think about whether your firm may make a counteroffer. Some firms make the strategic call to do this, rather than try to hire ‘another you’. Know what your response will be and how you will deal with this scenario before it happens. Your search partner will also be experienced in dealing with these issues. Keep in mind that the firm who has just make you an offer will be very sensitive to game-playing when it comes to counteroffers. Be honest and act promptly during this time; again, its in both of your interests to close this out promptly. And remember, you sought out this opportunity for a reason. I see too often people stay for a counteroffer and then regret it down the road.

 

• Be professional and responsive. The stress of the offer stage does wear some people down. And typically it follows a pretty thorough meeting and interview process that has been going on for some time. Remember to continue to respond quickly and to always be professional, even if the people you’re dealing with in your new firm at the offer stage aren’t the people you might be working with. People’s true colors can show during times of stress, and I’ve seen unnecessary negative impressions being formed by both sides because of the stress during these times.

The offer stage doesn’t have to be daunting. If the right information is shared at the start, and the right conversations are had to ensure expectation alignment, the process can, and will, go very smoothly. These are exciting times for both the candidate and the firm; do them correctly and they will be enjoyable.

When a hiring manager has found their perfect BD and marketing person, they embark on the offer stage. This stage should be quick and easy. So why isn’t it always that way? The offer stage is a key part of the whole process, yet it is often mismanaged by both the firm and candidate.
 
First and foremost, BD and marketing candidates have a lot of choice available to them right now. That context needs to be remembered in all of this; it is typically a product of the current market, not by demanding candidates. And when it is a buyer’s market, early transparency by both sides is the key to having the offer stage go smoothly.
 
Below are my top six tips to hiring managers in firms on how to conduct things in the offer stage to help a successful joint result. And next week, I will offer similar tips from the perspective of the candidate.
 
Firms & Hiring Managers:

• Have a conversation about the salary range at the start. This is critical in order to line everything up smoothly at the end. You will have been given a range, and you can communicate that range to your candidate. Similarly, your experience will tell you if the candidate has over-priced their own salary range expectation, or is simply too pricey because they’re too senior. Either way, this conversation needs to happen at the start so expectations are managed and aligned. Candidates also need to know if they’re in your range; this is one of the biggest mis-communications I hear about. And remember, you are very used to dealing with these sorts of conversations, as you have them all the time. Candidates are not and can get awkward dealing with this highly confidential information and may need a little hand-holding. (Note: for what questions you now can and cannot ask on salary, see my earlier blog.)

• Deliver the offer in a positive way. I’ve seen many offer conversations or offer letters which are completely devoid of any emotion. Your offer is impacting a person’s career and life and there should be a balance between professionalism and excitement. Revamp your offer letter if need be. And, when communicating it verbally, remember to show enthusiasm and positivity even if it’s something that is a little more mundane to you. Candidates feed off that vibe and can be impacted by it.

• Put a deadline on the offer. Many offers come verbally first, and then are followed up with a written offer. Put a deadline on accepting both the verbal and the written offers. It gives both parties certainty and doesn’t leave it open ended. Its reasonable for a candidate to ask for a day or two to consider everything, but if a candidate is asking for more than that, there’s typically other factors at play. Know what they are so you can address them quickly.

• Know your stance on any counteroffer. We’re in a buyer’s market, and you can expect firms to counteroffer in an attempt to retain their top talent. So, your best strategy is to put your best offer in front of the candidate. This may not be your traditional approach, but that’s the reality we’re currently in and it saves protracted negotiations in the event of a counteroffer. In my experience, candidates are rarely applying for a role simply to get more money from their existing firm. Almost all candidates are very keenly pursuing your role for a reason, so they want to accept your offer.

• Benefits and bonus questions. Once an offer is communicated, most candidates have questions about the benefits, policies and bonuses. Have the right people lined up to answer these questions, for example, your Benefits Director and the person the candidate will be reporting to. I’ve seen acceptances held up because of a lengthy game of phone tag between the right people on these issues. And, consider disclosing the benefits and bonus potential much earlier so it’s one less thing to deal with at this point. With bonuses, candidates always know that any potential bonus is subject to their personal performance, or even team or firm performance, but if they have some approximate ranges to go by, they will appreciate that information.

• Any hesitation? At the point of communicating your offer, the candidate should be anticipating it (or at least hoping for it) and they should be excited. Put frankly, if they are not, something isn’t right and you should have an honest discussion about why. Any hesitation, lack of energy or delay on a candidate’s part means they are stalling for a particular reason. Sometimes its easily resolved, other times it can get complicated. Either way, tackle it head on so you’re addressing the issues. Use your search partner here as they are used to dealing with every issue at this point of the process.

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Next week, I will offer similar tips from the perspective of the candidate.