Sometimes, your salary budget simply can’t compete with the big players, and that might mean losing out on some good candidates. Salary budgets can be complicated, and many don’t see the factors and constraints that come with negotiating salaries.
So let’s get creative! If you can’t stretch your budget to secure the best candidate, there are other ways to convince them to take your offer. It’s all about marketing!
Here are some of the areas you can focus on if you can’t stretch your budget:
1. Company culture
Aside from salary, company culture is often one of the most important aspects of a new role for candidates. The working environment is one that your software engineers will be spending most of the week in, most likely even having to work overtime - so who would want to work in a miserable environment!
Put in time and effort to make your company a fun and exciting place to work, and ensure your employees are comfortable to give and receive feedback in a healthy manner. No one likes a harsh boss! It’s also worth investing into regular company events, such as sports activities, parties and regular opportunities to mingle on a non-work basis, to bring about a sense of community and lift everyone’s spirits after a hard week at work!
2. Working arrangements
Hybrid working arrangements are the new thing now, and we’re seeing software engineers actively reject companies that push for all employees to work in the office 5 days a week! According to this study done by our Customer Solutions Team, roles allowing for hybrid working were closed 69% faster than those that didn’t!
In a world that easily allows for flexibility, software engineers value the ability to be productive on their own terms, whether that’s in the office or in the comfort of their own homes. Especially in Kuala Lumpur’s crazy traffic, hybrid working helps employees save time, money, and stress, all before they start work! Allowing employees to work from anywhere also opens up the role to a larger pool of talent, making it much easier to sell the role to prospective employees!
3. Career growth opportunities
Career development plans and opportunities are a great way to attract software engineers and developers who are hungry for skill growth, and can also be a tactic to find candidates who are looking for fast growth and willing to work to be the best in their field. Not only is this a great selling point for new employees, it’s also a great retention strategy for existing staff.
These can come in any form, and be adapted to suit your company! Whether it’s a rotation programme to allow employees to experience new projects and teams, or simply providing the opportunity to attend relevant training courses and get certified, providing upskilling opportunities is a great way to engage your employees, and intrigue potential new joiners!
4. Company potential
Startups often struggle with attracting strong talent due to their potential instability. But why let that hold you back from boasting your company’s potential? Perhaps you’re a potential rocket ship, or you’re about to secure some huge funding - boast about it! Find people who are willing to take the risk, and jump on board to push your company forward.
With that being said, don’t downplay the risks. You’re looking for someone excited to take a chance, not trick them into a gamble!
5. Employee benefits
Perhaps your salary budget isn’t so high, but maybe your company has other unique benefits that make your offer irresistible! Things like family health insurance, unlimited leave, or discounted gym memberships can really turn heads, and balance out what the salary may lack.
These benefits become even more important if you’re able to provide benefits that other companies typically don’t, such as mental health coverage or summer Fridays! These benefits excite employees, both new and old, and can encourage a better culture for your employees to feel great about.
We hope these tips help!
If you’re able to find the right value proposition for your candidates, then you’ll be able to move away from stressing about your salary benchmarks. While salary is important, it is all the other things that make or break your offer.
Still struggling to get candidates to accept your offer? Click here to contact us, and let us secure the right candidate for you!
