Have you ever wondered why job postings in the UK do not often include salary information? It’s a question that many job seekers have, and it’s one that we, as HR professionals, should address. In this article, we’ll explore the reasons why UK employers do not show the salary on job specifications.
It was reported by The Guardian that job seekers are valuing the perks and incentives of job roles far more than the actual salary. With this being a direct result of covid, many employers have to make their offers more attractive by adding lifestyle-enhancing benefits rather than zeros on the end of job offers.
What are the main reasons companies do not advertise salaries?
Here are some key reasons you may not see the salary advertised so obviously on your dream job specification.
According to experts at the curve group ,the number one reason UK employers do not show the salary on job specifications is to maintain a competitive advantage. Companies want to attract the best talent possible, and they do not want to limit themselves by showing a specific salary range.
By keeping the salary information hidden, they can negotiate the best possible deal with a candidate without worrying about other employers matching or exceeding their offer.
Another reason UK employers do not show the salary on job specifications is to maintain confidentiality.
Some companies may be looking to fill a senior-level position, and they do not want their competitors to know what they are willing to pay. In these cases, it’s important to keep the salary range confidential to avoid tipping off competitors or causing internal issues within the company.
A third reason UK employers do not show the salary on job specifications is to maintain flexibility. In some cases, the salary range may depend on the candidate’s experience and qualifications. By keeping the salary information hidden, employers can remain flexible and adjust their offer based on the candidate’s skills and experience.
Companies want to retain good employees. It is common for a company to offer a salary of £100k annually but only hire people who make less than £50k. This can be attributed to the fact that many companies have no idea how much their employees make and would rather risk losing them than having them work for nothing.
Companies also want to retain good employees because they need to know what other companies pay for similar positions in their industry or field of expertise. For example, A company may offer its sales team an average salary of £100k per year with bonuses based on performance (the best performers get more). However, if another company has offered the same job with better benefits and a retirement package, then there’s no incentive for someone who wants both money and security working elsewhere!
Internal equity is the idea that employees are more likely to accept a lower salary if they feel they are getting a fair deal and less likely to accept an increase in salary if they feel that their current pay isn’t sufficient. This means that companies should focus on internal equity when setting salaries rather than external factors like market rates, cost of living, and other factors outside your control (like politics).
Finally, it’s worth noting that in some industries, not showing the salary on job specifications is simply the norm. It may be an industry-wide practice that has been established over time, and it’s simply expected. In these cases, showing the salary range could actually raise suspicions or cause confusion.
While many companies are not purposefully deceiving job seekers or hiding important information, they are trying to recruit the best talent. With recruitment and HR operations being major resources companies are having to fork out for, there’s no room for exceeding budgets.