A startup in Bengaluru has lately hit the headlines. Zoka has emerged with an unconventional approach to hiring. Co-founder Arjun K Paul has chosen to opt out the traditional salary negotiation process. His company is offering job seekers exactly what they ask for. And even more in some cases. It is believed that the strategy is key to retaining world-class talent.
Businesses usually try to maximize profits and keeping costs under control. The usual or traditional hiring process involves careful consideration of the budget as well as the skills of the candidates. A negotiation phase is thereafter follows where both parties aim to find a middle ground.
Zoko has a different approach. It simply pays what candidates ask for. And sometimes it pays even more if it is believed that the candidate is undervaluing themselves.
Arjun revealed his hiring philosophy in a LinkedIn post. He said that they don’t negotiate salaries and try to literally pay what candidate asks for. It is a straightforward approach and is equipped with several advantages. The company builds immediate trust with its employees. A strong foundation for a positive work relationship is also built.
Moreover, Arjun believes that the unique policy motivates employees to perform at their best. The employees have no reason not to perform at their absolute best as they are getting paid what they want.
Arjun recounts that he has only negotiated salary once. It was simply to raise the amount that a candidate had asked for. They undervalued themselves compared to others in the same role.
However, the approach is not free of critics. One LinkedIn user raised a valid concern that what would be the rolle of Zoko if a candidate asks for a hike more than he needs. Arjun replied that Zoko does not inquire about previous salaries and has not encountered anyone demanding in such a way.
