You clicked on this article because you either fiercely agree or disagree with the above statement. Pay transparency has become a polarizing topic over the last few years — especially in vet med.
At hound, we think pay transparency is of the utmost importance, particularly in job postings.
Why? Well let’s walk through a few reasons.
Why should you always list compensation on job boards?
1. Pay is the top factor for job seekers.
In a study by Glassdoor, 67% of employees said salary was the top factor they looked for in a job posting.
According to SHRM, salary is the first thing job seekers look for in a listing, and over 70% of candidates say they want the salary range included in the first message from any recruiter.
If you aren’t putting a salary range, you may be missing out on excellent candidates who just scroll on by.
2. You’ll stand out from your competitors.
Only about 12% of postings from US online job sites include salary ranges, according to Julia Pollak, Chief Economist at ZipRecruiter.
But, ⅔ of job seekers expect to see it.
So, how can you make a great impression over your competitors?
Be transparent with the most important thing to the majority of job seekers — compensation.
Want to learn more ways to stand out in the recruiting process? Read “The Ultimate Guide to People-First Recruiting in Veterinary Medicine”
3. Some places are now requiring it by law.
In New York City, employers must include the minimum and maximum salary offered for any position located within New York City in job listings.
In Colorado, employers must include compensation in job postings, notify employees of promotional opportunities, and keep job description and wage rate records.
And Massachusetts, South Carolina, and New York are considering similar bills.
If this becomes mandated by law nationwide, it’ll be smart to get ahead of the curve & lead the pack!
4. Listing pay sets expectations early (and saves you time!)
Imagine this scenario:
The perfect candidate applies.
You spend ~3 hours vetting & scheduling interviews.
Your team spends ~3 hours interviewing them.
Your leadership team spends ~2 hours discussing them.
You spend ~1 hour deciding on an offer and give them a call.
…then, you find out they’re out of your price range.
That’s, at minimum, 9 hours you spent on a candidate that will ultimately not work out.
If they read your listing with a salary range, they could have opted themselves out, leaving you more time to spend with candidates that fit your practice better.
Not every candidate is right for your practice — and that’s okay.
5. Job seekers will try to find out anyway.
Salary.com and Payscale both have over 5 million hits each month.
Glassdoor is used by over 50 million people each month.
Because job seekers want to know what kind of salary to expect from you.
And, job seekers are more informed and tech-savvy than ever before.
So, even if you don’t tell them, they can get a fairly good idea — why not build that trust right out of the gate?
…it doesn’t have to be a hard & fast number.
We’re not saying you have to give an exact number, and we know that, often compensation is based heavily on experience (especially when you’re talking about DVMs).
But, giving a thoughtful range (& noting that negotiation is on the table!) helps build trust with candidates early — creating a smoother, more enjoyable recruiting process for everyone.