After days of scrutinizing hundreds of resumes and conducting countless interviews, you finally find your perfect candidate. And just when you are ready to offer the good news, the candidate rejects your offer. It’s an irritating scenario many HR professionals dread because they not only have lost the candidate of choice but are now back to square one, with no more energy and time.
Start-ups today, especially in Silicon Valley, are flourishing and that has led to increased talent density in the market. Jobseekers are spoilt with job options, especially top talents, allowing them to obtain more leverage than they have ever had in years. And therefore, a major concern for the recruitment industry today are the high rates of offer decline ratios.
What could be the reason behind candidates refusing offers? Let’s find out
1. Unclear Job Descriptions
The Great Resignation has given us a clear picture of what employees’ expectations are today, and that they will not compromise on them. This expectation is set right from the time they start looking for a new job – and that is where the job description comes into the picture.
One of the biggest reasons people turn down an offer is because they don’t have clarity about the role and more importantly, the company culture. The Job Description is the first point of communication with a candidate and if it is confusing, too idealistic or unclear, the candidate will simply move on to the next one.
Always ensure that communication to the candidate is not done in a ‘company first’ language but rather in a ‘candidate first’ tone’. Write what you actually demand from the candidate in that position. Tell him what’s in it for him – growth, opportunity, learning, or anything else. Remember, do not exaggerate or sketch a murky picture and stay as real as possible.
2. Painting An Unrealistic Picture For The Candidate
Recruiters often go overboard and tend to over-promise. What happens as a result is that candidates get impressed and start imagining the work environment, the boss, future opportunities and more. But once they start on the new job, they encounter the reality which is largely away from what they had dreamt about. The disappointment grows and at a certain point in time, one starts exploring other opportunities and walks out of the job.
On the other hand, the employer organization loses invaluable time and money. The candidate starts working hurriedly looking for alternatives leading to poor performance at work and disappointing results for the employer organization.
It is hence critical that you do not adopt any shortcuts in the recruitment process. Invest time and effort in discussion with the candidate such that a realistic picture of the job is communicated to him.
3. An Interview Process That Takes Too Long
The average interview process takes an average of 23.8 days, but this varies greatly depending on the role. Executive positions and higher management roles require a series of interviews and tests, all of which will extend the total time from application to offer. During this time, your candidate is bound to get other offers. If you’re not fast enough, there’s a high chance you’ll lose them.
To prevent this, organize your interview plan ahead of time so there are no delays in your process. Every interview that you schedule with the candidate should have relevance. Avoid asking the same questions in each interview and rather, make use of the time and get to know more about the candidate. Remember to convey to your candidate and set reasonable expectations about the length of your hiring process.
4. Poor Candidate Engagement
The most underrated and yet the most frequent mistake companies make is to not keep the candidate involved during the entire hiring process. What happens in such a case is that you don’t get a real insight into the candidate’s personality and interest. Having multiple touchpoints with the candidate and having candid conversations with them will help you gain trust and build a rapport with them.
Additionally, you also get a hint if the candidate is really keen on joining and what it is that he is actually looking for.
5. Low Compensation
Have you heard the candidate say “I have a better offer” and decline the compensation you are offering since another company paid well? It’s one of the most common reasons why candidates decline offers today.
To lower declines, ensure that the candidate has been offered compensation commensurate with his experience and profile. Avoid useless or disrespectful negotiations that start low and are unrealistic. Avoid negotiating to the last cent as it reflects poorly on the company. Judge candidates appropriately before you make an offer. Offer an increment if they are unhappy with the initial number, based on the conversation and expectation.
The Problem Is Clear. What Is The Solution?
HRs today DO NOT have the time or bandwidth to deal with each candidate the way we have described above. It’s the truth – let’s accept it. And due to the insurmountable pressure that organizations put on HRs, low-quality candidates enter the talent pool of the company.
This is where Spottabl comes into the picture. We and our team will take all the load off your shoulder and our Specialist Recruiters will ensure that the best candidate in the market is there for the said role. Needless to say, since the candidates will be hired via a thorough, personalized process, there will be a very low chance of candidate drop-offs later.
In sum, the needs of the candidate have to align with the job offer and his vision with the company culture which will tremendously reduce the offer declines.
To make this possible, you need to step out of your regular hiring process and let us do the job. Get to know more about us here.