How to sell your salary package to secure the best graduate candidates for your graduate roles
Your top candidate is very often someone else’s top candidate too. At the final stages of the recruitment process, when you’re ready to offer a spot on your graduate programme to the perfectly-suited student that you found, you might find yourself up against an equally attractive employer. At this point it’s important to be able to differentiate yourself from your competition to make sure the candidate makes the right choice.
If they’re offering a lucrative cash-only salary, while your package is tied up in medical aid, retirement annuities (RAs) and other contributions, you might have a challenge on your hands.
How can you ensure that your offer is the one that’s accepted?
It’s difficult to sell the concept of saving for retirement to someone who hasn’t yet even started their career. But if you’re fighting a fat cash salary with a wholesome package of benefits, you need to educate your candidates.
Grads want & need communicative and inclusive organisations. So, the more you can use your communication channels to send them the right messages after the fuss of assessment centres has settled – the more likely you’ll see bright, eager, and engaged grads sign with you and report for duty in the new year.
Employers have stated that more often than not, they made no effort to maintain contact with appointed graduates between the time of the offer and their acceptance. This lull period is the perfect opportunity for you to enhance your relationship with grads, strengthen their engagement with you, boost your employer brand and make sure you’re the one they choose.
Have a look at the below for a bit of inspiration on the types of messages you might chose to communicate during this period:
- You’re going to be so wrapped up in learning and growing the next few years, that the future might go neglected. Signing up for an RA now is a worry-free way of ensuring that future you is looked after.
- At some point you’re going to start paying an RA, and if you go from cash to contributions, you’ll really feel it. Rather let it start coming off now so you don’t get used to spending that money.
- The earlier that you start saving, the more that you’ll get out at the end of the day. It’s a smart way of having your money work for you - you really don’t need to do anything but watch your investment grow over time.
- By paying pension, you reduce what you pay to South African Revenue Service (SARS). So while your overall cash in hand is lower, you’re actually getting more from it because you’re not paying as much tax.
Pension contributions are a great addition to a remuneration package. Get your candidates to understand the value of the benefit, and the offer will be an easy one to sell. Make an effort to educate your graduate applicants and you might just find yourself being the favourable employer to graduates.
Want more tips or strategies to secure top graduate tallent? Get in touch for a free graduate recruitment strategy session at [email protected].