Companies looking to expand their accounting and finance teams are running into a problem. In the current economy, there just aren’t enough accounting and finance professionals to go around. While total U.S. employment is at just 3.8 percent as of June 2018, the unemployment rate for accounting and finance professionals is even lower than that. This means more employers are having trouble filling job openings. There is also more competition to hold on to the talent they already have.

With employers struggling with hiring in a tight job market, many are rethinking their requirements to fill roles. There’s a lot of competition for top talent, so skills and experience that were deemed essential just a few years ago are now considered “nice to have” rather than necessary. So how should hiring managers respond to a climate in which talent is increasingly scarce?

Making a salary offer is a pivotal time in the hiring process. As a business, you want to hire the best candidates. But you also need to consider your budget and prevent salary decisions from being based on whim or emotion. Offer too high, and you might be overpaying for talent. Offer too low, and you risk destroying trust with the candidate. Job seekers today have access to credible salary information. They know their worth. Do you?