In such a competitive hiring market, the job offer stage is now a taxing process for not only the employee but the employer too. After all, investing so much time and effort into your recruitment process, finally narrowing it down to the top few – picking one and then having to deal with the possibility of your offer being rejected is a stressful situation to be in.
However, the best candidates usually have more than one offer on the table as their sought-after skillset is the reason you offered them in the first place, and your competitors will feel the same way. This blog covers why candidates reject offers and what the hiring manager can do to ensure, or at least increase, the likelihood of their job offer being accepted.
Top three reasons why job offers get rejected and how to tackle them:
Counter offers – in todays market, candidates are often counter-offered by their current employers; they know the business, they can do the job, training has been invested into them and they have the skillset, so why not save the hiring costs and just counter offer? Focusing on the reason behind the resignation and putting together a satisfying counter offer can often change an employees mind instantly.
Solution: Know exactly what drives the candidate, where do their motivations and aspirations lie? Tick the boxes that matter, pull on the strings that make a difference. Why do they want to leave? Tackle their reasons for leaving and address them directly. A candidate should not have to hand in their notice to be compensated appropriately or shown their true value.
Alternative offer – As mentioned above, the best candidates will have several options on the go, and inevitably all but one must be rejected. A survey by MRINetwork reported that 47% of rejected offers in 2016 were down to accepting another offer.
Solution: Offer a competitive package, know what your competitors are offering and try to at least match or surpass the industry standard to make the candidate feel the offer reflects their worth. Show enthusiasm and sell – the candidate is not the only one selling, it is a mutual tool in interviews. Take your time to show enthusiasm and interest in the candidate’s application, make them feel wanted and tell them why they should work for you. Emphasize the companies features and benefits, create a welcoming company culture and mirror it to the candidate’s persona. Give them a memorable experience in the interview process to give yourself a competitive edge.
Lengthy processes – Having a prolonged hiring process and being complacent with the candidate is a very risky move, the candidate may grow impatient or be poached by a competitor with faster forward action.
Solution: React quickly. The faster the job offer goes out, the lower the chance of the candidate going out to other interviews and subsequently getting other offers. A fast turnaround demonstrates you are keen for the candidate and makes them feel valued.