The current job market is increasingly competitive and employers are coming up with new tricks to hire top talents. Companies often use various strategies, such as offering attractive benefits, creating a positive work environment, and providing opportunities for growth. For example, Google is renowned for its employee perks, like free meals and wellness programs, while Netflix doesn’t have a prescribed time off policy, allowing employees to take a vacation whenever they want.
Adding to these unique approaches is Arjun V, Co-founder and CEO of Bengaluru-based company Zoko, who has introduced a novel method for handling salary negotiations. Arjun shared in a LinkedIn post that Zoko does not negotiate salaries with candidates. Instead, they pay exactly what the candidates ask for.
“After hiring 18+ members for my team, I’ve found the secret to retaining world-class talent: We don’t negotiate salaries. We literally pay what they ask for,” he wrote.
Arjun highlighted several reasons for this approach, such as eliminating back-and-forth negotiations, showing respect for the candidates’ perceived value, and ensuring that employees have no reason not to perform their best since they are getting paid what they want. This method also avoids unplanned and distracting salary discussions.
However, there has been a rare instance where he negotiated to increase a candidate’s requested salary.
“I’ve only negotiated salary once, and it was to increase the amount a candidate asked for. They undervalued themselves compared to others in the same role, so I had to tell them that and offer them more.”
Have a look at the full post here:
Trust and respect – these two are probably the most important things that define an employer-employee relationship. Zoko’s method not only simplifies the hiring process but also promotes a work environment where top talent can thrive, knowing their value is recognized and appreciated.