Finding talent in today’s competitive labor market is one thing. Having that talent accept your offer and actually come on board? That’s another dilemma. Everything is going smoothly. You find a great candidate that matches your company culture and has all the experience your team needs. They accept your job offer, pass the pre-screening, and agree on a start date. But then, out of nowhere, they call you and say they’ve changed their mind, or they’ve accepted another offer. That is if you’re lucky enough to even receive a call.
In our candidate-driven market, your candidates have options and a lot of bargaining power. It can be frustrating at times for employers. If your company is tired of candidates backing out of your job offers, here are a few suggestions to ensure your new hires show up on the first day of work.
Move quickly and make strong job offers
We’ve said this many times before and we’ll continue to say it. Your hiring process must move fast. If you drag your feet when it comes to making an offer to a candidate, it’s going to cost your organization valuable time and money. According to a recent study, 44 percent of candidates back out of a job offer because they receive a better one. And another 27 percent of candidates back out because their current employers generate a strong counteroffer.
Therefore, the longer you take, the more likely a candidate will receive another offer from one of your competitors or will stick with their current place of employment. That also means you have to come in with an attractive offer from the get-go. If you lowball a candidate, they will likely keep looking elsewhere, even if they do accept your offer.
Get your offer in writing
If you intend to offer a candidate the position, do so quickly and in writing. Don’t just call up the candidate or email them and say you’d like to extend an offer. We’ve heard of and seen employers take DAYS to present an official offer letter. Again, the longer you wait, the more time your candidate has to change their mind or accept another offer. Our best piece of advice is having an offer letter ready to go just during the final interviewing stages. That way, if you find the candidate you’ve been searching for, you’ll be prepared to go right after the final interview. By presenting an official offer letter, it may put your candidates’ mind at ease, and they will be more likely to commit to your company.
Partner with a recruiter
If you are still struggling to keep candidates committed to your offer, we can help with that. At Johnson Search Group, we close the candidates we represent on money, availability, and location throughout the entire process. From day one, they know what to expect from you and are fully invested in your company. We build a strong relationship with both our clients and candidates, so everybody is always on the same page and in constant communication. Partner with one of our rockstar recruiters, and we will help you find candidates that are actually ready to come on board and make an impact on your team.