Hiring managers understand their company's rhythms better than almost anyone--but it's easy to miss the forest for the trees. A well-crafted job posting can lure attractive candidates with snappy writing, but if you don't get the basics right, candidates are likely to lose interest, quickly.

Many businesses make the same mistake when it comes to job posts: Two of the most important things employees care about are compensation and transparency, neither of which, it turns out, are consistently addressed in job listings.

Our research--comparing 17,000 job postings with nearly 500,000 job applicants--has taught us a few things about what works. When it comes to jobs that get the most qualified applicants, we see a pattern: The successful ones include information about the potential salary of the position.

These job posts receive up to 50 percent more applicants, and those that don't include wage information are twice as likely not to get any applicants.

When you're posting a position, you should definitely include salary. Without it, your business appears old-fashioned and secretive. When that happens, the best candidates may not even apply.

Here are four reasons why sharing salary information makes such a big difference:

1. Salary Is a Primary Concern

Everyone wants a job they love, but for many, salary plays a primary role in job acceptance. This shouldn't be a surprise.

Potentially more surprising: Compensation is often a determining factor for individuals who are currently employed but looking for another job. Up to 60 percent of professional Millennials are always on the job hunt, even if they're not unhappy at their current position.

If you're not including salary in your job posting, many of these candidates are going to skim right over it.

2. So Is Transparency

Modern job seekers want to work for a company they can trust. The easiest way for a company to build trust among potential employees is to be as transparent as possible.

That's exactly what sharing salary does.

Candidates know there's a budget for every position, and disclosing that budget lets them know that your company is willing to pay everyone--regardless of gender, race, and education--what they rightly deserve.

3. You're Not Wasting Their Time

Finding a new job takes a lot of time.

Candidates prepare the perfect cover letters and reexamine their resumes. They take time off work to attend interviews, maybe even participate in follow-up phone calls, all before getting a job offer and salary range.

This takes weeks, which may be wasted if the salary is not within the candidate's desired range. If you include compensation information in your job ad, job seekers won't feel like they're wasting their time going through the application and interview process.

In other words, they'll be more encouraged to apply.

4. Or Your Company's Time

Hiring managers already know the hiring process is a hassle. It can take weeks or more to go from crafting the initial job posting to offering the right candidate the position.

And when you offer the position and are told the candidate can't accept because of the compensation package, you have to start over.

When salary is included in the job listing, this problem is automatically eliminated. The job seeker already knows how much the position pays and is likely going to accept it.

How to Pull It Off

If you want to increase the quality and quantity of job candidates you get, it's time to start posting salary. Here's how you can do it without causing an uproar among existing employees.

  • Use a salary range instead of a specific number. This gives you the ability to pay more depending on experience.
  • Make your salary competitive. Know what the competition is paying, as well as the national average, and set the salary accordingly.
  • Pay fairly and equally. Current employees will be able to see these numbers, so be sure that everyone within the company is being paid what they deserve.

Just remember, when you post a job, think of yourself as a salesperson. Salary is going to be one of your top selling points, so use it.