How Recruiters Help to Win Top Talent in a Candidate-Driven Market
July 26, 2021
By Erica Rothman
Living in the information age, everybody has a voice. And many of those voices are loud.
Yet, there’s something that rings as true now as it did hundreds of years ago:
Money talks loudest, especially in a candidate-driven market.
Plus, with skyrocketing costs of living, top performers must jump on the most profitable opportunities.
Now, there are the old employer gripes about loyalty–a naive notion that people should take less pay upfront because of a sense of devotion. But that’s unfair.
A fruitful employee-employer relationship goes both ways, and your best workers do as much – if not more – for you than you do for them. Plus, workers have the right to seek compensation that significantly improves their lifestyle and solidifies their nest egg.
But just like everything else in this crazy world, there’s a matter of balance.
Undoubtedly, being a slave to dollar signs can hold someone back from opportunities with tremendous upside.
Leaving Money on the Table: The Fear of Today’s Sales and Business Development Candidates in the Pharmacy and Patient Services Industries
The fear of leaving thousands of dollars on the table for a new opportunity is challenging to overcome for business development and sales professionals.
After all, they’ve already put their heart and soul into building the business and carving their niche.
While it’s an understandable roadblock and an entirely human struggle, there’s a reason this type of situation is called the “Golden Handcuff.”
Admittedly, yes, there’s often no guaranteeing the same earnings that a sales/business development candidate makes in their current role. But set-in-stone promises of cash aren’t the be-all-end-all.
In fact, in a world where staying too long in the same place now has negative connotations, the Golden Handcuff has many pitfalls.
Still, there’s an anxiety that prospective employers must soothe if they’re going to help candidates overcome the fear of money being left on the table.
Unlocking the Golden Handcuff
Already, in the previous section, a pathway has been provided to unlock the Golden Handcuff. Namely, the long-term impact on career growth for sticking around in the same place can be costly. Whereas switching things up job-wise is like rocket fuel for a resume.
But the above factor alone won’t lure sales and business development talents away from jobs that already pay them handsomely.
Keep in mind, most professionals are – at the very least – passively looking for other opportunities. It’s the nature of the beast. The caveat, however, is they’ll only entertain offers they deem worthy.
Then you must ask yourself, if you can’t guarantee money on the table, what aspects of your company can you sell?
Culture first comes to mind.
Most business experts will tell you that the workplace cultural component is absolutely crucial to any recruitment campaign. And it comes down to basic common sense; people want to work at a place they enjoy turning up to every day.
Furthermore, by promoting your workplace values, you’ll paint a realistic, attractive picture of the work environment.
Explaining clearly, “this is how we do things, and this is what we stand for” tells candidates you’re a good match for them.
There’s Still the Matter of Compensation
Culture and values give your company a significant boost in your sales/business development candidate search. But they lose their allure when you’re not compensating accordingly.
When you can’t guarantee the thousands of dollars left on the table, attractive compensation is a tricky balancing act. All the same, it’s not an impossible fence to mend.
On the above front, working alongside a recruiting firm with lasting roots in the pharmacy industry, such as The Remedy Group, offers a solution. We understand the nuanced specifics of the middle ground in compensation packages needed to lure top talent away from money on the table.
Furthermore, the Remedy Group has expertise in positioning your culture and values to attract high-level performers.
If you want to unlock the Golden Handcuffs, contact Remedy Group today for top industry talent.