Amid unexpectedly low hiring numbers for July and a tight labor market overall, it may be time to let job seekers know how much you're willing to pay.
The U.S. non-farm private sector added 330,000 jobs from June to July, according to the ADP National Employment Report released Wednesday. That was the smallest jump since February and well below the median expected job increase of 690,000 for July, according to a Bloomberg survey.
"The labor market recovery continues to exhibit uneven progress, but progress nonetheless. July payroll data reports a marked slowdown from the second quarter pace in jobs growth," Nela Richardson, chief economist at ADP, said in a release.
Feeling the squeeze of a tight labor market, some employers have begun disclosing salaries in job descriptions, according to Bloomberg.
When Heidi Sullivan, senior vice president of marketing and product at Chicago-based UpCity, which connects businesses with service providers, posted a job listing last week, she decided not to include the salary range because she was flexible on experience level. She found that about 30 percent of the people she reached out to interview had wage expectations above or below what she was aiming for.
Posting a salary range up front "is not something I've done in the past, and it's definitely a cultural shift for all of us hiring managers," Sullivan says. However, she adds, doing so might have saved her some interview time.
Dennis Consorte, small-business consultant and expert at Digital.com, a Seattle-based review site focused on small businesses, provides a pretty simple rule for employers. "If you're offering a more competitive salary than other companies, then it's worth it to list it in the job description," he says. "If not, then leave it out."