Compensation Review and Recommendation

Recently, I collaborated with a small AI technology startup that was actively seeking experienced software engineers during a recruitment drive. As they lacked experience in hiring for such a high-demand position, they had identified 16 candidates and offered all of them salaries below the minimum range for the role. Recognizing the potential loss of these highly sought-after candidates, I was tasked with reviewing each candidate and proposing a more competitive total rewards package. This involved the following key tasks:
- Resume review focused on key attributes of tenure, skill set, location, and the median salary in their industry.
- Analysis of the current company budget and forecasting
- Analysis of comparable industry benchmarks
- Establishment of a comprehensive rewards solution (i.e., base salary, bonus, benefits, reimbursements, training, etc.)
- Revision of offer letters and negotiation with proposed candidates
These efforts resulted in a 98% success rate in hiring highly sought-after employees in a highly competitive marketplace.