By Wendy Abdo, Staff Writer and
Craig Fowler, Director of Training/Business Development for Pinnacle Health Group
Salary negotiation can be the most difficult and trickiest part of the staffing process. You want to make an offer that will win over the candidate without breaking the bank. So how do you walk this tightrope without killing the deal? By applying some simple principles used by seasoned recruitment professionals as follows:
Silence is Golden
Employers should listen more than they speak. In negotiations, the first person who speaks is the first person who loses. Oftentimes, candidates will talk themselves out of an objection without the employer saying anything. Silence is a powerful tool.
Don’t Hold Back
Keep it simple and don’t play games. Give your best offer first. Although this goes against standard negotiation techniques, you must remember the size of your candidate pool. Unlike other job searches, the pool of physician candidates, especially for some subspecialties, is extremely small. You cannot afford to hold an “ace in your pocket” for last minute leverage. If the location of the opportunity is not a primary concern, you can bet the first low-ball offer you present will be your last. This is no time for games as candidates can get up to 20 calls a day soliciting other opportunities.
Uncover Fundamental Objections
Don’t make a big deal out of small issues. Many smaller issues expressed by candidates mask underlying concerns that are really at the heart of the problem. A helpful way to reveal these core concerns is to ask them what their objections are and actively listen. Don’t try to address each individual objection as it comes up. Listen to all of their concerns first.
For example, keep asking them, “what else” until they say, “that’s about it.” Then say, “which of these concerns will stop this deal from coming together?” By doing this, you directly acknowledge all the issues but also show that you’re not going to address every one but only the important ones. This technique will enable you to know exactly what problems you should tackle first. Always remember the first stated objection is often not the real deal killer. Uncover the actual reasons and address them promptly.
Keep it Simple
Be careful! Negotiations can breed mistrust. You don’t want the relationship to get off on the wrong foot. One factor triggering mistrust is complex compensation structures. Candidates may think you’re trying to hide something. The more simplistic you can make your offer, the better your chances are of securing the candidate. Formulating a simple production bonus structure or compensation plan is the smartest thing to do, even if the more complicated plan may be more lucrative. If it takes a calculus equation to determine the performance plan, candidates will go elsewhere.
Face-to-Face Finalization
If only one or two problems prevent you from finalizing the agreement, it may be wise to take the candidate out to dinner to discuss and resolve these last few issues. Most negotiations are handled remotely and impersonally through telephone, fax, or e/mail. A face-to-face meeting instills trust and can help catalyze things. Best of all, issues are addressed directly and are frequently resolved on the spot.
Using Professionals
By choosing to use the services of a physician recruitment firm, you’ll get an added bonus. Recruiters have extensive experience working with candidates and clients and have successfully resolved many deal breakers. These recruiters act as go-betweens and will assist you throughout the process. In addition, recruiters have an excellent understanding of how competitive your compensation plan should be for your particular location and opportunity.
Negotiation is a fine art. By applying these principles, you can win over your physician candidate while building trust and mutual respect that will benefit future relationships.