When you make a hiring decision and extend an offer to your top candidate, there is always the chance they are fielding multiple offers and may decline yours. However, if it becomes a pattern, it may be time to take a look at your recruitment process and see if there are areas that could be potentially pushing candidates away. Here are some main factors that could be contributing to you losing candidates to other offers:
Length of Process
If the decision-making process draws out too long, candidates may be turning down your offer in favor of another company that got back to them sooner. Review your current process to see if there are ways to streamline it so you can move from the interview to offer stage more quickly without sacrificing quality.
In a job market that is favorable to candidates, simply having an available position isn’t enough to get your top choice to accept your offer. If you are losing out on candidates, take a look at your employer branding. Ensure you are taking every opportunity to showcase what type of company you are, including work environment, mission statement, culture, etc. Otherwise, candidates are likely to go with the offer from the company they feel like understand and at which they could see themselves.
Consider the interview experience on behalf of the candidate. If it requires significant time from the candidate (such as having an excessive number of interview rounds or if the interviews last too long), they may start to feel frustrated and move on. A demanding interview experience may also make candidates wary about the type of employer you may be and end up passing.
A consistent pattern of candidates turning down your offers may be due to the compensation package not being competitive enough. Beyond offering a market value salary and benefits, candidates may be enticed by perks such as flexible scheduling, opportunities for advancement, professional development training, remote work options, etc. If your budget is limited on salary and benefits, these other perks can still help make your offer competitive.
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