Admit it. How many times have you as a hiring official simply inquired about a candidate’s current or desired compensation and thought to yourself, “Great. The candidate will fit within our compensation range.” You then extend an offer only to see the candidate reject it. You’re wondering, “What  happened?”

Let me venture a guess. You thought if you liked the candidate and could exceed her current  compensation level, that would be sufficient for her to accept your offer. Nothing could be further from the truth. Today’s market is filled with good talent and tough competition from your fellow employers. Truly great candidates can find a job in any market let alone today’s heated-up market. Even those quality resources “in transition” have multiple offers from which to choose. Today’s employers will face difficulty securing the best talent.

More people are concentrating on a broader set of criteria. Compensation is only one component.

What do candidates seek? Most candidates seek more than a bigger pay check. They look for what I call the Employer’s Value Package – those tangible and intangible reasons an employee would choose or stay with an employer. While each person’s Value Package will differ in terms of criteria and the relative importance of each criterion, most will include:

Culture – What are the values and personality of the company? How does the company treat  employees? Does the company foster a team-oriented environment?

Role/Responsibilities – What are my daily duties? How do they align with the company’s objectives and goals?

Professional Development – Is there a structured career development model that helps me grow  professionally? Will my duties offer me an opportunity to learn?

Related posts:

1. Do Candidates Think You Represent a “Best Company to Work For”?
2. Personal Triangles for Candidate Negotiations
3. I’m Sorry, But Today’s Job Boards are Broken
4. How to Hire… It’s Like Gambling In Las Vegas!