Having a candidate turn down an offer isn’t just frustrating, it’s also a waste of time, resources, and can be detrimental to team morale. When a candidate hesitates on a final job offer, it can be a sign that you haven’t done all you could do to get them to “yes.” So what do you need to do to get your top candidate to accept your offer?
Make the Right Offer
Too often, companies extend low offers when trying to hire top talent. Sometimes a hiring manager may think that they can offer the same salary of the job they’re trying to fill without realizing they were underpaying the previous employee. Or they’re out of touch with their market and get outbid by other companies that are offering fair market salaries.
Doing extensive market research will give you insight on appropriate salary ranges based on industry, experience and region. At VanderHouwen, we coach organizations on the fair market value for candidates’ salaries so that you can be confident your offer is both fair and competitive.
Get to Know Your Candidate
A good offer is about more than just financial motivation. There are many factors that come into play when a candidate is considering a position. Take the time to understand the values and pain points of your candidates. Ask yourself: What do they care about? Are they concerned about relocation? Job security? Parental leave? Employee benefits?
Make sure to ask questions and take the time to get to know your candidate early on in the hiring process. That way, if they end up being unsure about accepting your offer, you’re already armed with the information that you need to persuade them based on their own values. VanderHouwen recruiters ask in-depth questions to both clients and candidates so that we can ensure a good match is made every time.
Understand Your Competition
A vital (but often overlooked) step in the hiring process is a competitor audit. Do you know what positions your top competitors are hiring for? Do you know their salary ranges and benefits packages? If you’ve found a candidate you’re head-over-heels for, it’s likely that they’re getting wooed by your competition as well.
Understanding how your organization differs from your competitors and the ways in which your company has more to offer to an employee is key. It’s easier to convince your candidate of the value that you’re offering if they find themselves in a multiple offer situation.
Create Non-Financial Value
Top performers care about more than money. They care about making a difference and working for a company that has a powerful and tangible mission. This is especially true of Millennials, who by 2025, will account for 75% of the workforce. Research indicates that Millennials would choose to take a more meaningful job, even if the salary is lower than a higher paying, but less compelling position. Make sure your prospects understand how their role, and the company as a whole, is making a difference. Emphasize how you are setting trends, disrupting industries or making an impact in a community.
Sometimes everything is just right. The candidate is interested. The employer wants to make the offer. The numbers are right. It looks like nothing could go wrong. But then it takes too long. By the time an offer is extended, the candidate has moved on. Ensure that your selection process is as efficient and speedy as possible. The longer you take to decide, the less likely it is that they’ll be waiting for you.
We understand that getting a candidate to say “yes” can seem daunting, and having offers rejected is disheartening. Our staffing team has deep experience in making compelling offers. Talk with us about outsourcing your recruiting needs and how to save time, money and energy along the way.
Ready to build your team? Get in touch with one of our Account Managers today to start planning!