Why should companies speak openly about the salaries they offer?

There are many companies who still keep their salary information hidden when promoting job offers, local recruiter Francesco Ellul argues that this is not necessarily the right way forward.

Ms Ellul, who has been in the field of HR and recruitment since 2015, looks at why companies need to be more transparent about the salaries they are offering.

1. No time is wasted on unattainable candidates

There is nothing more frustrating for businesses than meeting a candidate they really like and then realising that their asking salary is way above what the company can afford. If they had been transparent from the beginning, such candidates would not even apply and it would save businesses precious time that is otherwise used on interviews leading nowhere.

2. Your offer is more likely to be accepted

As per the point mentioned above, if companies advertise the salaries they offer, the right candidates will apply and rather than spending time going back and forth negotiating figures, the likelihood is that both parties reach an agreement more efficiently.

3. Transparency helps with employer branding

If your company is perceived as a transparent business, this will do your company and brand a world of good. We live in a world where people are constantly posting updates on their lives on social media, therefore, the days of being secretive about information are over because candidates tend to find it harder to relate to companies that keep information hidden.

“Start creating a structure that allows for salary transparency, and the market will thank you,” Ms Ellul recommends.

In this regard, the EU is currently undergoing discussions on pay transparency in order to tackle the gender pay gap issue.

As part of the new rules, those seeking employment would be granted the right to information about the pay range being offered for a particular role.