Salary Negotiation Strategies For Employers

Salary Negotiation Strategies

22nd December 2022

When an employee asks for a raise or it comes to working out the salary for a prospective new hire, the question remains: how should you negotiate salaries with employees?

Well, we have some tips on how to approach the negotiations, especially if the budget is tight. 

Before going into salary negotiations, you need to understand and identify what is possible.

Why is salary negotiation important? 

Whether you want to attract talent or retain them, the level of salary will be important.  

While there is a range of factors involved when choosing somewhere to work or apply for, the level of salary, for most employees, is number one. So, you need to ensure that your organisation offers a great salary that is fit for the role and within budget, which can be difficult to judge, especially during a salary negotiation. Getting the offer right can help to cultivate a feel-good factor within the workplace

Understand your budget and range 

Before going into salary negotiations, you need to understand and identify what is possible. This means knowing exactly what you have to play with financially, but it shouldn’t just be in relation to the employee you are discussing salary with.  

It is also good to know where other employees stand salary-wise, and whether t