Selling the Candidate
Newsletter volume 2 number 3
If there is strong competition to fill technical positions, you may be required to sell candidates on your organization before you interview and evaluate them. This may be necessary just to get a potential candidate in the door.
The next time you want to convince a candidate to come in for an interview or accept an offer, consider using the "Three Paycheck" formula. The first paycheck is cash compensation. The second "paycheck" reflects the positive impact the position has on the candidate's career or learning curve. The third "paycheck" relates to whether or not the person likes and respects the people they work with. If possible, use all three "paychecks" to convince the candidate of the opportunities your offer will provide. If you can't compete on one of the "paychecks," then compete on the other two.
Apply the same formula to retain your best employees. For instance, if your organization has put a freeze on salary increases, maybe there is an opportunity to expand marketable skills, or join a sought-after project. Encourage your employees to think twice about changing jobs to correct just one "paycheck."