Negotiating job offers is common practice today. One of the most highly negotiated aspects of a job offer in the sales profession is salary. Even if your company makes a…
Negotiating job offers is common practice today. One of the most highly negotiated aspects of a job offer in the sales profession is salary. Even if your company makes a fair compensation offer, you can expect sales candidates to counter. They may be looking to negotiate a variety of things – salary, commission rates and caps, benefits, vacation time, job title or other aspects of the offer.
The goal for sales companies is not to win the negotiation, rather it’s to find a fair compromise that both sides are happy with. We asked our sales experts to provide us with some tips for how to master the salary of the sales negotiation process with sales candidates. Here are their insights:
Before engaging in salary negotiations, it’s important to have a good understanding of the market rate for the position in question. This will help you to make a strong case for the salary you are offering. There are many online resources, such as salary databases and industry associations, that can provide you with this information. Making a lowball offer will hurt your chances of hiring a top sales candidate.
During negotiations, it’s important to emphasize the specific skills and experience that the candidate brings to the table. This will help to build a case for why they are worth a higher salary than the standard market rate.
While it’s important to stand your ground during negotiations, it’s also important to be prepared to compromise. Be willing to listen to the candidate’s concerns and be open to making adjustments to the salary or benefits package if necessary. Make it clear to the candidate what areas are negotiable and non-negotiable.
Be upfront and transparent about the company’s budget and what the organization can afford. However, be careful not to lowball the candidate on the salary. This can create an uncomfortable situation and potentially lead to you losing the candidate to another organization.
Salary negotiations are an important part of the hiring process, and it’s important to take the time to get them right. Don’t rush through the process or make too quick of a decision. Give yourself and the candidate enough time to come to an agreement that works for both parties.
SalesForce Search is a sales recruitment agency that specializes in hiring sales rockstars. Hiring top salespeople is tough. Only 55% meet their quota. Our proactive approach recruits talented salespeople before they hit the market. As North America’s leading sales headhunter we recruit salespeople in every sector of the economy including, software, manufacturing, financial services and medical devices. To find your next sales rockstar, start your search here.
Elizabeth is a sales recruiter that has led and developed multiple top sales teams in Canada in the Automotive, Retail, and Sports Industries. With 6+ years of corporate sales experience, she knows what separates a good salesperson from a great salesperson. She holds a Bachelor of Business Administration with a Specialization in Marketing and Accounting with Honours from the Schulich School of Business at York University.