THINKING ABOUT LOW BALLING A CANDIDATE? THINK AGAIN.
The similarities between how some home buyers and employers approach a so-called ‘buyers market’ is uncanny.
They both get sucked into the media headline that everyone is out of work and forced to sell. Broad, sweeping statements are thrown around – ‘Forecasted 20% decline in prices. 12% unemployment rate’
They think that all markets perform the same. There is downward pressure on all prices/salaries.
Both spend many lunch breaks & evenings searching the classifieds for the dream. You’ve asked plenty of questions, done your due diligence.
The time has come to make an offer. YOU LOW BALL IT! Because that’s what the headlines say. You want to get ‘a win’. You want to cut some costs and this is one.
Rightly so, the candidate/seller gets pissed off, it puts a sour taste in their mouth and they don’t want to deal with you anymore.
Like a middle ring downsizer, quality candidates know their value. They’re not forced to sell, often they’re not forced to leave their current employer, it is only due to current circumstances that they’re considering a tree change.
Quality assets don’t come along every day. Pay a fair price, pay market value.
Every asset has their own character and selling points, over time, the business will put their touches on talent. And like a quality home, talent appreciates in value, becoming a quality investment. They remember how you supported them when times were tough, they will remain loyal when the market picks up, and it will pick up again.
And like all investments, you forget how much you paid, you only remember the memories.