To attract the highest calibre executives, organisations may need to review their salary structures

Throughout our years of experience in the executive recruitment industry, we have worked with some of the most successful, promising and innovative organisations in their sectors. Many of our clients share the desire to see their organisations expand and such plans mean they need to attract and retain the top executive talent, people who will exceed expectations and take them to the next level and beyond.
Our experienced consultants have also observed on occasion the reluctance among some business leaders and finance directors to offer remuneration packages that are enticing enough to attract such top talent. We’ve come across or heard about organisations who try to compensate for offering below-par salaries by promising candidates that they will be working in a great culture, using the latest, cutting-edge technology or some other sweetener.
Truly outstanding executives, especially those actively seeking new opportunities in the market, may well be invited to interviews by a number of other organisations, so there’s an ever-present risk that failure to offer a satisfactory salary and bonus package may well result in such candidates being lost elsewhere.

Money isn’t everything, but if every firm has told a prospective executive that their culture, vision and services or products are the best, such candidates may ultimately be swayed by financial factors.

Many executive recruitment firms and their clients will concur that it can sometimes be a false economy to offer a relatively weak salary to a prospective executive, when you weigh up the resulting cost in terms of both money and time, of having to restart the recruitment process for that position. Seeing the sense in offering a strong remuneration package to a preferred candidate from the outset can often prove to be the wise course.
Of course, it’s still essential to ensure that the most suitable candidates have been located, interviewed and properly assessed, representing a strong fit for your organisation’s culture and objectives. The key, therefore, is balance.