In today’s fiercely competitive job market, companies are pulling out all the stops to attract top talent. From offering lavish perks to fostering inclusive work cultures, employers are getting creative in their quest to secure the best and brightest. But one Bengaluru-based CEO has taken a truly unconventional approach that has the internet buzzing – he simply pays his employees whatever salary they ask for, no questions asked.
Zoko’s unique hiring approach
Arjun V Paul, the co-founder and CEO of Bengaluru-based startup Zoko, recently took to LinkedIn to share his company’s revolutionary hiring strategy. Revealing that he has hired over 18 team members using this method, Arjun explained that Zoko no longer engages in salary negotiations – instead, they simply pay candidates the exact amount they request.
“After hiring 18+ members for my team, I’ve found the secret to retaining world-class talent: We don’t negotiate salaries. We literally pay for what they ask for. Then, we do revisions once a year,” Arjun wrote in his viral LinkedIn post, outlining the key benefits of this unconventional hiring strategy.
According to Arjun, this approach has been a game-changer for attracting top talent to Zoko. By eliminating the back-and-forth of salary negotiations, the company is able to show respect for the candidates’ perceived value and ensure that employees have no reason not to perform at their best, since they’re already being paid what they want.
Interestingly, Arjun revealed that there has been only one instance where he negotiated to raise a candidate’s requested salary. “P.S. I’ve only negotiated salary once, and it was to increase the amount a candidate asked for. They undervalued themselves compared to others in the same role, so I had to tell them that and offer them more,” he shared.
Fostering a culture of trust and respect
Many LinkedIn users praised Zoko’s approach, citing it as a shining example of how respecting and valuing employees from the very beginning can cultivate an environment where excellence thrives.
“Your approach to valuing talent is great, Arjun. It’s clear that respecting and trusting your team from the start fosters an environment where excellence thrives,” wrote one user.
Another commenter added, “This is great and other recruiters should follow it. We should discourage situations where recruiters push candidates hard just to save money for the employer.”
Addressing potential concerns
Of course, not everyone was entirely convinced by Zoko’s unconventional hiring strategy. One user raised the question, “What if you hire the person and they prove to be less competent than their pay? Do pay revisions later allow reduction in pay as well? I am very curious to know more?”
Arjun addressed this concern, explaining that Zoko conducts annual pay revisions to ensure employees are being compensated fairly based on their performance and the market rate for their roles.
Another user asked what his thoughts were if candidates asked for unrealistic hikes, saying, “I have negotiated with candidates asking 100% hikes”. Arjun simply said that Zoko doesn’t ask candidates about their previous salary, and that “no one really asks for any crazy salaries”. Instead, he said the first question one should ask is that irrespective of the pay package, “can you get them to work with you?”
Some users even suggested that Arjun’s LinkedIn post could serve as a “mini guide for recruitment,” highlighting the potential for Zoko’s approach to inspire change across the broader hiring landscape.
“This post could serve as a mini guide for recruitment,” wrote one commenter, underscoring the innovative and thought-provoking nature of Zoko’s hiring strategy.
Challenging the status quo
By eschewing traditional salary negotiations and empowering candidates to name their own price, Zoko is challenging the status quo of the hiring process. In a world where employers often try to lowball candidates or engage in protracted bargaining, Arjun’s approach is a refreshing departure that puts trust, respect, and the value of talent at the forefront.
This unconventional hiring strategy could also give Zoko a significant competitive advantage in the race for top talent. By offering employees the salaries they want, the company is likely to attract highly skilled individuals who may be turned off by the adversarial nature of traditional salary negotiations.
Of course, Zoko’s approach is not without its potential risks and considerations. Paying employees whatever they ask for could potentially lead to inflated salaries or hiring decisions that don’t align with the company’s long-term needs. Careful monitoring and adjustments may be necessary to ensure the strategy remains sustainable and beneficial for both the employees and the organization.
A trailblazing approach to talent acquisition
Zoko’s unconventional hiring strategy, as revealed by CEO Arjun V Paul, has undoubtedly captured the attention of the wider business community. By empowering candidates to name their own price and eliminating the often-arduous process of salary negotiations, the company is charting a bold new course in the quest for top talent.
While the long-term viability and scalability of this approach remain to be seen, Zoko’s willingness to challenge the status quo and prioritize the needs and aspirations of its employees is a refreshing departure from the norm. As the war for talent intensifies, other organizations may do well to take note of Zoko’s trailblazing strategy and consider how they can foster a similar culture of trust, respect, and employee-centric values.
