One of the most disappointing things as a hiring manager is when your top candidate declines
the job offer. You spend months defining target skills and characteristics, reviewing resumes and interviewing candidates to narrow down to your finalist of choice. You put together what you believe is a strong offer, and the candidate says "no." What went wrong?
It's not an employer's job market anymore. In this time of low unemployment, it is very much an employee's market, and he/she can afford to be selective. Below are some common reasons candidates turn down job offers and what you can do to prevent them.
No. 1: The interview process took too long
It takes time to identify the right candidate, and a typical hiring process will often involve 2-3 interviews with decision makers in different locations. You also want to identify a candidate you like and compare him/ her to other candidates. When all is said and done, you're often looking at an interview process that can take 6-8 weeks. During this time, it's critical to stay in touch with the candidate. A simple email with a status update will help keep candidates engaged. This is also a great time to check references, showing the candidate your continued interest.
While you're focused on filling this position, it's easy to forget candidates have deadlines, too. A lengthy interview process with periods of little interaction can make a candidate feel you don't respect his/her time or make your company appear disorganized. Setting expectations upfront and maintaining open lines of communication are key in this candidate-driven market.
No. 2: You didn't 'sell' the opportunity enough
It's easy to forget interviews are as much the candidate interviewing you as you interviewing the candidate. While you want to assess the person's skills and cultural fit, the candidate wants to know how the role will match his/her personal and professional goals.
Career growth is something every candidate wants. It's critical for the hiring manager to discuss training and personal development opportunities. This is particularly important for millennials, who are often more motivated by the ability to learn and grow professionally than they are by an increase in financial compensation. It's also important to talk about the company culture and what makes your company stand out. Bottom line: You want the candidate to leave the interview knowing he/she will be appreciated by your company and will get an experience that can't be matched by others in the industry.
No. 3: Lack of employer brand appeal
Companies spend a lot of time branding their products and services but don't always think about how they look to future employees. Your employer brand is how you show candidates what it's like to work for you. This includes reviews on websites like Glassdoor but also the posts your company and employees put on social media.
Let candidates get to know your company through your social media posts. Show your team having fun together, being involved in the community and being customer-focused. Employees also give hints about their work experience in their social media. If they're happy, it'll show in their posts and their involvement with customers.
No. 4: Compensation and benefits
Lastly, a strong compensation and benefits package is critical in securing your top candidate. For some roles, that will mean a package heavily weighed on the salary side. For others, it will be uncapped commissions or the opportunity for equity. Make sure the package is competitive with the industry and will appeal to your ideal candidate and make him/her want to join your team.
Remember to think outside the box with extra benefits like flexible work hours, the ability to work remotely, unlimited sick days or vacation, etc. The cost to implement these benefits is low, but they often mean more to the candidate than a higher salary.
In today's employee-driven job market, top candidates are looking for a strong compensation package, growth opportunities, and a welcoming work environment that will provide happiness and satisfaction.
For more information, visit BICRecruiting.com, call (281) 538-9996 or email hkassu@bicrecruiting.com.
