Landing the right people doesn’t just come down to who’s offering the highest salary – it’s about the total package. Yet most companies don’t know how to effectively showcase the full value of every reward. The richness of benefits and equity grant details are often buried in a handful of PDF email attachments that candidates must sift through.
What’s more, most HR teams aren’t sure that what they are offering is competitive in today’s market. With hiring changing so rapidly, access to real-time compensation benchmarking data has become even more critical for making smart investments in people.
Although there is much uncertainty in today’s economic situation, many companies are still focused on hiring, albeit hiring the right people, for the right role, at the right pace. Companies are still looking for people with the necessary skills to fill business-critical roles.
Josh Bersin, an HR-industry analyst and researcher recently shared findings that, “Talent Acquisition budgets remain robust and nearly every company we talk with is trying to improve mental health, benefits, and employee experience to hold on to the people they have.” enable companies to put their best foot forward with a qualified candidate, helping them see the full value of rewards, should they join the company.
Presenting a total rewards package in a clear and compelling way speaks volumes to candidates about a company and their future experience there. As the saying goes, you never get a second chance to make a first impression. Why not make it a good one? Because the first impression is a critical first step to retention.
Rather than emailing a static PDF letter with attachments for candidates to tediously comb through to see what the compensation, benefits, and equity will be, imagine the impact an offer would have if they could see the total value of the proposed investment in them in one interactive page that details:
- Base compensation
- Structure and timing of bonuses
- Equity vesting schedule and a tool to project future value
- Core benefits information, including coverage options, out-of-pocket costs, and the breadth of wellbeing resources
- Information about their new team, the company’s mission, and a welcome message from the CEO
Candidate Offers, built on our Sequoia People Platform, does just that through one visually compelling page. But just as important, it helps companies move forward confidently, knowing that they are making a compelling offer, with embedded reward ranges and market benchmarks to keep it both competitive and equitable.
Just as important, this new tool was designed to save HR teams’ time. Rather than researching and creating individual offers from scratch, they can templatize them to include what matters most to different audiences.
Securely extend an offer to a candidate through a tailored, interactive experience. And, when they’re ready to accept, they can do it with one click, and one e-signature.
Best of all, it’s built to integrate with an existing applicant tracking system (ATS) so recruiters can easily move from interviews, to approvals, to acceptance.
At Sequoia we know how tedious and time-consuming it is for companies to effectively convey how they’re investing in people. We have worked hard to come up with a tool to not only make HR’s job easier, but better manage compensation costs and ensure recruiting is more successful.
We want to give recruiters that wow-factor that sets a company apart and signals to candidates just how easy it will be to unlock the full value of their rewards once on board. To get a closer look at Candidate Offers and how it works, I invite you to reach out to one of our advisors to schedule a demo.