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Technology Compensation: Looking Beyond Base Pay – Jennifer Bensusen Advises Monster

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Decision Toolbox Technology Lead and Recruitment Partner Jennifer Bensusen recently shared some tips on compensation strategies that employers should follow when recruiting tech employees with Monster.com.

Excerpt from the article:

Technology drives every facet of today’s world – from simple everyday tasks to complex business processes. The result has created an often complex recruitment process for today’s leading staffing companies.

The fierce competition for tech skills is projected to grow 12 percent from 2014 to 2024, according to the Bureau of Labor Statistics, creating a ravenous demand that has escalated IT salary trends. But as the staffing experts below make clear, a competitive starting salary is often just the first step in successfully signing top IT talent.

Jennifer Bensusen, senior recruiter and technology lead at Decision Toolbox 
“Before the hire, understand what the market dictates. Base is pretty important to people, and then depending on location, they’ll be interested in equity stakes if that’s available, especially in a startup mode or small company.”

“It’s always great if you have transparency with compensation, so when you do attract new talent, everyone knows what everyone else is paying.”

“You need to look at performance bonuses — people are attracted to that. And it’s always helpful to offer someone a little more than they were asking — that gets the candidate excited and ensures that they won’t entertain other offers.”

“Sign on bonuses are great, especially when you can’t be as effective with equity. You can add retention to it, such as a percentage up front, and then if the person stays on for six or 12 months, they get another piece of it; or you can attach it to project incentives.”

Check out the full article here.

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