Select a Candidate and Negotiate an Offer

After any desired follow-up interviews are conducted, it is time to select a candidate and

negotiate an offer. There are three main issues to consider: compensation, job performance and

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expectations, and accommodations for disabilities.

Compensation includes wages, salaries, and benefits. Although wages and salaries are often used

interchangeably, they are different. Wages are payments based on an hourly pay rate or the

amount of output. Production employees, maintenance workers, retail salespeople (sometimes),

and part-time workers are examples of employees who are paid wages. Salaries are typically

calculated weekly, biweekly, or monthly. They are usually paid to office personnel, executives,

and professional employees. Every small business should do its best to offer competitive

wages and salaries, but a small business will generally not be able to offer wages and salaries

that are comparable to those offered by large corporations and government. Employee benefits,

such as health and disability insurance, sick leave, vacation time, child and elder care, and

retirement plans, are paid entirely or in part by the company; they represent a large component

of each employee’s compensation. Most employees have come to expect a good benefits

program, even in a small business, so “the absence of a program or an inadequate program can

seriously hinder a company’s ability to attract and keep good personnel.” Not surprisingly,

small businesses are also not in a position to offer the same level of benefits that can be offered

by large corporations and the government. However, small businesses can still offer a good

benefits program if it includes some or all the following elements: health insurance, disability

insurance, life insurance, a retirement plan, flexible compensation, leave, and perks. In

addition, small businesses can offer benefits that only a small business can offer—for example,

the flexibility to dress casually, half days on Friday, and bringing one’s pet to work. Other ideas

include gym memberships or lunch programs. These things have proven to increase employee

loyalty, and they will fit the budget of even the smallest business.

 

Set Performance Expectations

It is in the best interests of a business for prospective new employees to know and understand

their performance expectations. This means that a business must determine what these

expectations are. New employees should understand the goals of the organization and, as

applicable, the department in which they will be working. It should also be made clear how the

employee’s work can positively impact the achievement of these goals.

 

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