Remuneration is always an interesting conversation with our clients when we are taking a brief to recruit a new role!
There is definately a thought process that you need to offer a potential candidate 10% to 20% more than their current basic salary just to engage them in any recruitment process.
Reviewing the last year of senior leadership roles #TeamCollingwood has successfully appointed, I firmly believe that motivators for leaders to move on are now far more around the challenge, personal development it will provide and the Purpose and Values that our client has. Salary is a "given" in that it has to be roughly where they are already earning but it is by no means a key decision maker any more.
Clearly there are money hungry leadership candidates but, in agreement with our clients, we usually remove these individuals early on in our recruitment process. It is rare that money led candidates would be culturally aligned to our clients.
Everybody loves a good sized paycheck, and if you want to get the best people on board, you need to pay more than your competitors, right? After all, onsite dry cleaning and lunchtime yoga can only go so far in attracting the top talent. This, of course, is true, but there's a downside to paying above market rate: You create prisoners. What is an office prisoner? Consultants Aon Hewitt describe it as "people who stay at their jobs despite feeling unmotivated, disengaged and generally negative about their employers." Fortunately, these people make up only about 8 percent of employees--still enough to be a drag on your company, though. Most employees who become dissatisfied with their job move on, but some stay, and those people are a drag on productivity and morale.