Category - Remuneration

Blog Description
Blog Image
Blog Category
Blog Keywords
Page Content
Salary negotiations
Network Recruitment will advise you on how to approach the salary negotiation process.
Salary negotiations
9/26/2017 9:56 AMRemunerationLerato Mashego9/26/2017 10:18 AM
Finance job, IT job, Engineering job, Network Recruitment, specialist recruiter, specialist recruitment agency

salary.jpgDuring your job search, the conversation around your current and desired salary package expectation will come up. Negotiating your package is seen as one of the most important aspects of the recruitment process. However, many job seekers are still under the erroneous impression that they need to keep this information confidential.

In this blog, Network Recruitment will advise you on how to approach the salary negotiation process.

Be honest with your recruiter
Discussing your salary is a common feature of the recruitment process. It is, therefore, important to be honest and upfront about your salary expectations with your specialist recruiter. By taking this approach not only are you equipping him or her with the correct information, but you are also helping them to find the right career opportunity for you. In an article titled 'trust your recruiter during your salary negotiations' Finance and IT Senior Manager, Cornè Booysen, urges job seekers to be forthcoming about their CTC, performance bonus and leave day expectations if they want the best out of their specialist recruiter. By being honest with your recruiter you set the tone for a genuine and professional working relationship with your recruiter.

Know the job market
While your specialist recruiter is an expert in your niche, we advise that you do some research regarding what the market is currently offering professionals in your role. This will ensure that your expectations are realistic and help you to negotiate for a better salary package with your recruiter.

Don't be too focused on salary
New job, new salary! That's what many job seekers think when they seek a new career opportunity. Although salary is important when you're making a career move, it shouldn't be the sole motivating reason for making one. There are numerous factors regarding the job offer that job seekers should consider such as short –and long-term career growth, benefits, company culture etc. Search for career opportunities that will suit you and your career goals best.

Part of your job search strategy should be to work with a specialist recruitment agency. Not only are they well-versed in your niche market, they will find the best career opportunity for you.

Looking for an IT job, Finance job or, Engineering job? Contact Network Recruitment, for all your specialist recruitment needs. Click here to APPLY.   

Think first before you accept a job offer
Don't let the excitement of a job offer get the better of you. Consider these pointers before you accept.
Think first before you accept a job offer
9/21/2017 3:04 PMRemunerationLerato Mashego9/21/2017 3:21 PM
IT job, Finance job, Engineering job, specialist recruiter

job offer.jpgWhen you receive a job offer from an organisation, you may be tempted to accept the offer immediately. While the job offer may be what you are looking for, it's worth evaluating all aspects of the offer to ensure that it's what you expect before committing to the new employer.

Don't let the excitement of a job offer get the better of you. Consider these pointers before you accept.

Do you understand your entire package?
Before you embark on your job search, it's good to know what your negotiables and non-negotiables are in order to communicate these clearly to your specialist recruiter. Since most organisations make use of the cost-to-company (CTC) model, it's vital to have a thorough understanding of what the total CTC to the employer is before you accept the offer. Having a comprehensive understanding of your total CTC will make it clear what your net income will be.  If you don't understand this model, ask your specialist recruiter to talk you through it.

Do the benefits meet your needs?
Benefits packages differ from one organisation to another – make sure that you carefully consider this part of the job offer.  Although your recruiter will inform you of the benefit packages of each of their clients, we advise that you request a dummy payslip to compare your current with the proposed.

Find out what medical aid and pension or provident funds contributions the organisation may offer you, if any.  Furthermore, ask about any bonuses you might be eligible for in the long run.

Will you be a good culture fit?
Since we spend a significant amount of time at work, enjoying your job and liking the environment are also important factors to consider before you accept an offer. Whilst you may have researched the organisation before you went to the job interview, make an effort to dig a little deeper when the job offer has been extended. Try to gather more information about the company, the culture and the people who work there.  Network Recruitment often finds that candidates leave their new roles because the culture was not what they expected.

Furthermore, you can ask your prospective employer if you can spend time with the team before making the final call.

Surviving job offer anxiety
Tips on surviving job offer anxiety
Surviving job offer anxiety
9/14/2017 9:23 AMRemunerationLerato Mashego9/14/2017 10:02 AM
IT job, finance job, engineering job, specialist recruiter, Network Recruitment

job offer anxiety.jpgYou've been to a job interview, answered all the specialist recruiter or hiring manager's questions and asked them a few questions of your own. You feel that the interview was a success and that your prospects are good. However, a few weeks have gone by and you still haven't heard a word from the specialist recruiter regarding a potential career opportunity.

During that period, job seekers may develop job offer anxiety – an overwhelming feeling of stress and anxiety in relation to the potential job on offer. Job offer anxiety may develop in two scenarios.

1. When job seekers second guess themselves after a job interview and blames themselves for not receiving the call back from a specialist recruiter; or

2. When a job seeker receives a job offer from their second choice and isn't sure whether to accept or decline the job offer, or to wait to hear from their first choice.

Job offer anxiety is no stranger to job seekers interested in expanding their careers. This unnecessary state of inner confusion may lead the job seeker to make ill-advised decisions. Although it's natural to feel anxious, we advise that you don't allow these negative thoughts to disrupt your job search. 

Here are some tips on surviving job offer anxiety.

Have a follow-up discussion with your specialist recruiter
A follow-up discussion with your specialist recruiter may be beneficial in easing your job offer anxiety as they will be able to offer an objective opinion of your chances based on their experience and understanding of the employer.

Keep searching for other career opportunities
If you're unemployed it might be tempting to stop your job search and wait for a job offer. Network Recruitment recommends that you don't take this approach. Distract yourself by looking for other career opportunities in the interim. It will allow you to be more productive during your job search and as a result, get you closer to finding the best career opportunity for you.

If you are employed, remain faithful and committed to your current employer and continue to execute your responsibilities with vigour whilst you pursue other career opportunities.  Your hard work should not go unnoticed and may even open new doors for you at your current place of work.

Consider hiring time frames and exercise patience
The recruitment process may take longer than you originally expected due to various factors. For example, specialist recruiters need time to perform reference and criminal checks, and these may prolong the hiring process. Furthermore, if the recruiter has already sent you to one of his or her clients, the client may require approval from a committee. In general, a job offer is extended once a range of tasks have been completed.

Work on your CV
Another way to survive the job offer anxiety is to ensure that your CV and cover letter are up to standard. We recommend that you make time to review and update these documents as they are an extension of yourself. Share these documents with mentors and friends for feedback and use the feedback to enhance how you present yourself on paper.

Waiting for a job offer can be a prolonged and stressful experience. Stay positive and focused on the end-goal, which is finding a career opportunity that is good for you. If you are what the specialist recruiter and employer are looking, you will receive that job offer.

Looking for an IT job, Finance job or, Engineering job? Contact Network Recruitment, for all your specialist recruitment needs. Click here to APPLY.   

Salary vs benefits
While salary is important when considering a job offer, employee benefits are equally important.
Salary vs benefits
7/20/2017 12:41 PMRemunerationLerato Mashego7/20/2017 1:18 PM
job offer, Network Recruitment, specialist recruiters, IT job, Finance job, Engineering job, job seeker, finance candidates

higher vs benefits.jpgWhen faced with a job offer most professionals are inclined to accept the job, which offers a higher salary than their current net salary. They may argue that money is the only deciding factor whether you accept a job offer. However, the employee benefits offered by a company should never be overlooked as they provide important sources of passive income as well.

Although employee benefits may reduce your nett salary, they have long-term value for professionals. Employee benefits assist employees to fund important expenditure such as retirement, life and disability cover and medical aid.

While benefits and remuneration are both equally important, Network Recruitment's specialist recruiters all agree that it depends on the candidates' preference. To determine which is more important to you, first establish why you want to leave your current employer then ensure that your new employer can meet your needs on a professional and personal level.

In addition, job seekers should always consider what is most important to their lifestyle. Given the current economic circumstances, the benefits that one receives from your employer could help you tremendously in the long-run. Medical aid and pension fund contributions are savings plans for that "rainy day" which might feel like a pinch in the pocket right now, but helps in future when it is really needed.

It makes sense for job seekers to want employee benefits because of the long-term rewards. However, we have noticed that many of employees prefer a higher net salary and have their own savings plans or Retirement Annuities (RA).

If you are good at saving on your own and prefer to choose whom you save with and what level of medical care you require then the best option would be to opt for a higher net salary and less employee benefits. Take into account that most conglomerates do not give you an option unless one can prove that you already have such policies in place.

Based on Network Recruitment's research, many of our finance candidates prefer not to have medical aid or pension included as part of their salary package as they want to choose their own medical aid and be able to manage their own investments or RAs.

Whether you choose a job offer with a higher salary or one that has more benefits, the choice is ultimately yours. However, if you chose the latter and your net salary is lower than your current net salary, keep in mind the long-term rewards of the benefits.

Looking for an IT job, Finance job or, Engineering job? Contact Network Recruitment, for all your specialist recruitment needs. Click here to APPLY.   

What you need to know about the cost to company element of your salary
Understand your salary package today!
What you need to know about the cost to company element of your salary
7/11/2017 9:12 AMRemunerationLerato Mashego7/11/2017 9:33 AM
IT job, Finance job, Engineering job, Software Developer, CFO, Site Agent, career opportunity, Developers, CA(SA), Mechanical Engineer

Cost to company.jpgWhen a job is advertised, the abbreviation CTC - cost to the company - is often seen next to the salary package. Often, job seekers may be startled to find out that their nett salary is considerably less than the advertised salary. For example, if a career opportunity for a Software Developer, CFO or Site Agent is advertised and the total CTC is R1 million, it may not be the actual salary one will receive at the end of the month. This is because there is a difference between your CTC and your nett salary.

The CTC is the entire amount a company is willing to pay for an employee, whereas your nett salary is your take-home pay after deductions such as tax, medical aid, UIF etc.  The CTC amount includes the following:

Your CTC includes your guaranteed / fixed amounts such as:

  • Your basic / cash salary / gross salary is the actual salary you receive for rendering your services to the company - bear in mind that is amount is taxable.
  • The company's contribution such as:
  • Guaranteed 13th cheque
  • Medical aid
  • Pension or Provident Fund
  • Death and disability
  • Car / travel allowance
  • Company car
  • Company phone

When considering a career move in the IT, Finance or Engineering sectors, candidates need to understand the structure of their salary package as each company structures their salary packages differently. Most employees starting a new job are keen to engage in career development and growth opportunities, and earning a higher salary is often part of this process. However, if you don't fully understand your remuneration package, you may not be able to negotiate the right remuneration and benefit package at the initial stages of the negotiation process, and could likely enter into a new role earning less that you expected.

Consider identifying what your basic salary is and what your nett salary is before you accept a job offer.  Only make a decision about a job offer once you have a clear understanding of what you will be earning.  The HR department should also be able to aid you in understanding your payslip and the different elements it contains.

Looking for an IT job, Finance job or, Engineering job? Contact Network Recruitment, for all your specialist recruitment needs. Click here to APPLY.   

A recruiters journey during the salary negotiation process
Don't let the awkwardness of talking about remuneration prevent you from having an honest discussion with your recruiter.
A recruiters journey during the salary negotiation process
7/14/2016 12:38 PMRemunerationLerato Mashego7/14/2016 12:42 PM
Jobs, Network Recruitment

salary negotiation.jpgUnrealistic expectations, the reluctance to discuss money and back and forth negotiations, these are factors that may arise during the salary negotiation process. It's no surprise that these negotiations are one of the most stressful parts of the recruitment process.

While there are instances where employers make an offer to a candidate and the candidate quickly accepts and immediately signs on the dotted line, sometimes recruiters may possibly encounter hurdles during the negotiation process that make it difficult to reach an agreement that both parties agree on.

Candidate not divulging their current salary

Before a specialist recruitment consultant can send you to a potential employer, they need to know as much information about you as possible including your current salary. A recruiter needs to have some sort of idea of what you are earning or want to earn in the near future. So, by not being forthcoming about your current CTC (cost to company) you are indirectly hindering the recruiter for negotiating a salary you want.

Being salary focused

Suppose the specialist recruitment consultant has the perfect position for you but your asking salary is somewhat higher than the offered price. If your main objective is career growth or development, at times it's better to accept the salary the potential employer is offering and grow or, develop within the company.

Not trusting your recruiter

We have said this time and time again, under no circumstances are you supposed to pay for a recruitment agency's services. While recruiters have a bad reputation, many specialist recruiters are in your corner. So be honest with them (put your cards on the table), the more honest and transparent you are with your recruiter, the better equipped they'll be. Ultimately, they want to make both parties happy. If you are working with other agencies, let you current recruiter know.

Long HR process

Clients who have a long recruitment process, make the salary negotiating process tough. If you want top skills, you have to move quickly especially in the IT industry. If you HR process is long, you can lose a candidate in a blink of an eye.

Don't let the awkwardness of talking about remuneration prevent you from having an honest discussion with your recruiter. Don't be too focused on salary and trust your recruiter. Remember, we are here to assist in negotiating a salary that's best suited for you.

Are you looking for an IT jobFinance job, Engineering job, or a Contracting assignment? Contact Network Recruitment, the centre of recruitment excellence.

Trust Your Recruiter During Salary Negotiations
Trust Your Recruiter During Salary Negotiations
3/24/2016 10:35 PMRemunerationSharePoint Admin Account4/13/2016 10:46 PM
​​​​ Trust Your Recruiter During Salary Negotiations

Times are tough and the job market is competitive. You know your worth, but future employers need convincing. Proving why you deserve the salary you're asking for is not as easy as it seems. That's why you need a specialist recruiter in your corner.

Trusting someone else to negotiate on your behalf can be scary - particularly if you feel you can do a better job. However, specialist recruiters work closely with their clients and have a vested interest in ensuring that both parties - client and candidate - get what they want. Trust your recruiter to do well for you and they will.

Do your homework and ensure that you engage a reputable specialist recruiter whom you can enter into a partnership with. Someone who will work hard to help change your life for the better – better job, better salary, better life.

"If you want to get the best out of your specialist recruiter, you need to be forthcoming about your CTC (cost to company), performance bonus, leave days – basically every factor that will contribute to your salary expectations," says Corne Booysen, Finance, and IT Senior Branch Manager.

Specialist recruiters are experts in their niche industries. Their knowledge comes from years of experience and includes being able to negotiate to make sure that both parties - client and candidate - walk away satisfied.  

After all, it's in their best interest to make both parties happy. Candidates who are honest and straightforward are easier to work with. They make the recruitment process and salary negotiation easier as the better a recruiter knows you, the harder they can fight for you.

Corne Booysen is a Senior Branch Manager at Network Recruitment.

Looking for an IT job, Finance job or, Engineering job? Contact Network Recruitment, for all your specialist recruitment needs. Click here to APPLY.   
How to Prepare for Your Salary Increase Discussion
How to Prepare for Your Salary Increase Discussion
11/13/2015 1:42 PMRemunerationSharePoint Admin Account4/13/2016 2:09 PM

Professionals who have worked hard for their employer usually deserve a salary increase. After all, they've either saved the company money, have developed groundbreaking software or have implemented projects, so asking for a raise should be a piece of cake. Right? Wrong!

Convincing your boss that you need an increase in salary often becomes a sensitive and contentious issue. Most professionals have had to negotiate a salary increase at some point in their careers, but most would hate to admit that when it comes to asking for a raise, they think twice. 

Kirsten Macauley, Senior IT Consultant at Network IT Bruma cautions "Enter the conversation with the understanding that, while you're an asset to the company, you need to handle the situation with the utmost care." You need to have an action plan before starting this vital conversation with your manager.

To help you, Macauley has put together four points to consider before starting the conversation:

1. Will you have to leave your job if you don't get the raise?
Establish whether it'll be a sore point if your request is unsuccessful. Would not receiving the requested raise be grounds for you to leave? And if it is, you need to think carefully before you talk to your boss and stick to your guns once you do.

2. Can you justify why you need a raise? 
Macauley advises having a breakdown of your salary and what your monthly expenses look like to help you plead your case. Also, if you are planning additional expenditure - like buying a home or car - it may help to explain this to your boss so that your reasons for asking for a raise become real to your employer. 

3. Are you being realistic?
Research your estimated market value to determine whether what you're asking for is realistic. Professionals in niche industries may find that market-related studies are a grey area. "Market-related values are higher in niche industries because they are based on what companies are willing to pay for specialist, scarce skills", Macauley states.

4. Beware of the counter-offer
If your appeal is unsuccessful and you decide to leave the company, beware of the counter-offer. Recruiters experience this often: a candidate ends up on the market after an unsuccessful salary negotiation and receives a job offer. As soon as they resign, their employer makes a counter-offer. While this may be tempting, you need to ask yourself w​hy you had to resign to get the increase you tried to negotiate originally.

Asking for a salary increase may be daunting, but if you focus on why the raise is important, you'll be able to have the discussion. Be respectful, sensitive, firm and realistic. Your goal is to convince your manager that you are worth the increase. 

Kirsten Macauley is a Senior IT Consultant at Network Recruitment.

​Contact Network Recruitment for all your specialist recruitment needs.
Like us on Facebook:  NetworkIT Recruitment Network Finance and Network Engineering.
Follow us on Twitter and LinkedIn.

Understanding Your Payslip
Understanding Your Payslip
8/21/2015 6:29 PMRemunerationSharePoint Admin Account4/12/2016 6:47 PM

payslip.jpgAccepting a new job offer can be exciting. You're ready for the career jump and your salary will be higher. However, when you receive your payslip, you realise that your nett income is lower than in your previous job. 

Before accepting a job offer, it's vital that you understand your payslip to ensure that you know where your money is going.

Be aware that companies operate differently. Some work on Cost to Company (CTC), while others work on Total Cost to Company (TCTC).
There is an alarming number of professionals who know what their nett income per month is but don't know what their annual package amounts to.

It is important to understand that the benefits offered by a prospective employer have a direct impact on your nett income. So, it's vital to establish what allowances and benefit/ additional benefits your new package includes. "It is important for a specialist recruiter to explain to the candidate that a benefit includes what the company and/ or employee contributes (i.e. medical aid, provident fund). And an allowance is money in your pocket (i.e. travel allowance, cell phone allowance) – added to your basic salary", says Network Recruitment's Training Manager, Somande Brown.

What is the difference?
• CTC:
Refers to the total cost that an organisation is spending on an employee, including your monthly CTC (basic salary plus allowances and company contribution) and a guaranteed 13th cheque.

Refers to your monthly CTC plus the full cost of all of the additional benefits, your bonuses and a 13th cheque (not guaranteed).

Deductions – Payslip Terminologies
Payslips differ from one company to another. However, it's worth familiarising yourself with these payslip terminologies.

• Pay as you earn (PAYE):
This is a tax payment method where an employer is required by law to deduct income tax every month (and national insurance, if applicable) from an employee's salary.

• Unemployment Insurance Fund (UIF):
This is a government created fund used to assist professionals who have lost their jobs. Money is contributed to the fund as an automatic salary deduction by any professional who works more than 24 hours a month. Both the employer and employee contribute and money is available to you if you are fired, retrenched or are on maternity leave.

• Pension:
A fund that both the employer and the employee pay money into regularly. Upon retirement, the member is entitled to receive 1/3 of the total benefit as a cash lump sum payment and the remaining 2/3 is paid out in the form of a pension over the rest of the member's life.

• Provident Fund:
Similar to a pension fund, in that both the employer and the employee make regular contributions. "With a provident fund the member can either receive the full benefit paid in a cash lump sum or in instalments," adds Brown.

• Garnishee order:
A garnishee order is a drastic measure for collecting a debt. This is a court order instructing your employer to pay your credit providers before your salary is paid to you. This means that your credit provider will be paid first and your take-home salary will be reduced.

 Group Life:
This a life assurance scheme activated by an employer for his or her employees. The employer may decide to run it alongside an occupational pension scheme or as a stand-alone scheme. In the event that you pass away, a tax-free pay-out equal to a maximum of four times the qualifying salary (your final remuneration) will be paid to your spouse/ dependants.

• Sign-on Bonus:
Money paid to a new employee by an employer as an enticement to join a company. This usually happens when a person has a scarce skill and has a clause that binds the recipient for a year of service.

Payslips can get quite complicated. It's the specialist recruiter's job to explain to the candidate what he or she will be earning in real terms. "The higher your benefit contributions, the lower your nett", concludes Brown.

Salary can be a deal breaker. Although the conversation may take only 15 minutes, it will have a huge impact on your life.

Somande Brown is a Training Manager at Network Recruitment.​

Looking for an IT job, Finance job or, Engineering job? Contact Network Recruitment, for all your specialist recruitment needs. Click here to APPLY.   

Are your salary expectations too high
In this blog, Network Recruitment will share a few things to think about before determining your salary expectation.
Are Your Salary Expectations Too High
7/10/2015 5:15 PMRemunerationLerato Mashego4/12/2016 5:29 PM
Network Recruitment, job

Salary expectationSomewhere between searching for a job and getting a job, you've probably thought about your desired salary. However, when faced with the crucial salary expectation question, you don't want to get rejected for mentioning a figure that's too high and out of your potential employer's price range.

When organisations hire, most of them have a fixed salary in mind before they begin with interviewing. If your salary expectation is unrealistic or too high, "it will most certainly place you at a disadvantage," states Nicoli Sauerman, General Manager of Network Finance.

Here are a few things to think about before determining your salary expectation

1. Know fair market value

To determine whether your expectation is right or off the mark, know what you are worth in the marketplace. Talk to your specialist recruitment consultant – he or she knows the benchmark figure for your job. Alternatively, research your industry, your location and scour similar job adverts to find out what different organisations are offering. What you discover may surprise you. "Be mindful not to compare yourself to your friends with similar qualifications. This can mislead you. Different choices early in your career can have a determining factor on salaries," Sauerman adds.

2. Consider your current skills and salary

Your current salary has an impact on your future salary. "This is because companies often have moratoriums on the % increase that they can offer on a current salary," Sauerman says. Your current salary is a clear indication of your worth in employers eyes. 

Consider working out your skillset, transferable skill set and your experience to determine your salary expectation. While some employers may understand the difficult job market, some candidates may have to motivate why they are asking for a specific salary. The best way to do this is to articulate the impact you'll make in the role and in the company. 

However, there are a couple of scenarios where you might have to take a salary cut, such as:

  1. Switching industries: You may be required to take a salary cut for the time being when you switch to a different industry or role.
  2. Competition is rife: If the market is besieged with similar candidates, you may have to reconsider your salary expectation. "The 'if they want me they will pay' attitude is not effective when there is someone else equally skilled and qualified at a more competitive rate," Sauerman concludes.

  3. Changing sectors: If a candidate switches from a large organisation to a non-profit organisation.
Before a specialist recruiter sends you out on an interview, he or she will discuss your salary expectations and will advise you whether yours are realistic or not. The recruiter will also advise you on how to handle the salary question during the interview. Once you know that your salary expectation range is reasonable, negotiating will be a tranquil experience.

Nicoli Sauerman is General Manager at Network Recruitment

Are you looking for an IT jobFinance jobEngineering job, or a Contracting assignment? Contact Network Recruitment, the centre of recruitment excellence.

1 - 10Next