13 October 2023
Evaluating a job offer goes beyond salary, especially in uncertain times. Sébastien Vachon shares his insights.
13 October 2023
When evaluating a job offer, it’s essential to look beyond the numbers to fully appreciate the total compensation. This is even more crucial as the looming possibility of a recession adds anxiety to the hiring process.
Sébastien Vachon, Director of Talent Management, shares key recommendations for navigating this uncertain landscape. Could enhancing total compensation help reassure potential candidates? Absolutely—but only if it’s clearly communicated.
Total compensation includes all the benefits an employer offers. It consists of three components:
Sébastien has observed that candidates now value financial security just as much as salary increases. Factors like flexible scheduling, remote work, retirement plans, and a company’s financial stability play a crucial role in decision-making. The question employers must answer is:
Can we improve employees’ overall happiness or, at the very least, reduce their sources of stress?
For candidates, a 20% salary increase may seem appealing at first glance. However, if the overall benefits package doesn’t align with their values and priorities, it’s worth digging deeper. If an employer’s compensation philosophy doesn’t match your long-term needs, it may not be the right fit.
Economic uncertainty influences recruitment trends. Some candidates hesitate to make career moves, even in a talent-short market. According to Sébastien Vachon:
“Candidates are asking more questions about leadership styles and company stability. While not always a dealbreaker, many now want near-complete alignment with a company’s values. They’re not willing to trade stability for a lateral move—they want a clear improvement in quality of life. Higher salary expectations and signing bonuses are becoming increasingly common.”
Beyond numbers, compensation should reinforce a company’s values and strengthen employee engagement.
Could today’s economic conditions shift some negotiating power back to employers? While we won’t return to pre-pandemic hiring trends, this is an ideal time to reassess employee benefits. In 2024, employers need to be creative and offer customizable perks that cater to individual needs.
During the Leadership au féminin event hosted by the Chambre de commerce de Québec, La Tête Chercheuse had the privilege of acting as a partner and leading an icebreaker activity that brought together over 250 women leaders. Through a set of questions designed for the occasion, participants were invited to go beyond titles and career paths, to spark real conversations and uncover what doesn’t appear on a resume.
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