One of the most potentially contentious parts of marketing executive recruitment and hiring is, without a doubt, compensation negotiation. A poorly managed conversation about this sensitive topic can easily spoil a great potential hire. But with a top executive search partner in your corner, it’s a discussion that can lead to mutual cooperation and excitement rather than tension and enmity.
Over the nearly two decades I have been recruiting and placing top marketing talent at businesses of all kinds. Along the way, I’ve often worked with brilliant “Type A” executives who have found success in large part by taking matters into their own hands and proactively solving the issue in front of them. That’s an attitude that can lead to a lot of professional growth, but it can also complicate sensitive matters that really benefit from an expert touch. Sometimes we have to remind them it’s beneficial to everyone involved when a professional at salary negotiation is leading the process.
When you have a disconnect between the employer and candidate on what’s reasonable, it is valuable to have an independent third party to help everyone find an agreeable middle ground and create a win-win situation. Here’s why:
Taking Advantage of the Experience You’re Paying for
Given the immense long-term value the right marketing leader can provide to your business, a top marketing executive search partner is absolutely worth its weight in gold. As you are making the investment, doesn’t it make sense to get as much ROI from it as possible?
We place hundreds of top marketing executives annually and therefore have far more firsthand experience seeing what works, and what doesn’t. We know what high-performing marketing talent responds to most, and that makes them happy new employees. Make use of that expertise while you’ve got it!
A Third-Party Shock Absorber
Sometimes the compensation talks can become heated and contentious even in the best of situations. Emotions run high on both sides when “just business” clashes with an individual’s livelihood and self-worth.
Not all executive search agencies recognize the strain this disconnect can cause and how it can jeopardize a great hire. But we’ve seen how stepping in to properly managing compensation discussions can drastically increase your odds of reeling in an A-player, and make it a top priority to resolve disagreements.
When you keep your marketing executive search partner involved in the discussion from beginning to end, you get constant access to a buffer and outlet for those tensions.
Thinking Beyond Marketing Executive Salary
You’re no doubt aware that compensation can mean a lot of things beyond flat salary. That includes stock options, days off, performance-based bonuses, sign-on and relocation incentives, work flexibility and more.
Your executive search firm has been in communication with both parties from the start. They should know what factors the candidate values most, and where your limits are from a budget perspective.
Depending on the candidate and the state of your business, there may be far more room for wiggle room and compromise than you had realized. An expert recruiter for marketing executives will understand candidate motivations and help you juggle a variety of remuneration factors that everyone can walk away happy with.