Many companies make a common mistake when they assume that an attractive salary is the key factor in convincing competent job seekers to accept an offer. Money is definitely a factor, but in most cases it is just a part of the total enticements that should be placed before a candidate to motivate them to accept the job. Companies should offer attractions designed to appeal to the candidate's needs.
Another common mistake is that the companies fail to merchandise their strengths and advantages to candidates and their families. Companies may have much to offer, such as benefit packages, bonus systems growth potential, active markets, promotion possibilities, stable employment, attractive location and favorable retention policies. Candidates and their families are not always made aware of these benefits and may reject the offer for the wrong reasons.
The following are some points to cover when extending a job offer. If they are covered properly in the interview process, then the acceptance ratio will improve.
- Make a candidate feel wanted, showing there is a need for the candidate's skills and that they can make a positive contribution on the organization. Present an optimistic and honest view of the company so that the candidate feels there is a bright future.
- Educate the candidate on the total compensation rather than base salary. Today's hiring environment includes many benefits including performance bonus, equity, vehicle allowances, paid time-off (PTO), medical benefits, tuition reimbursement and more.
- Give the candidate a specific time to respond with a clear deadline. Do not leave this matter open ended. The recommended response period is less than one week. This practice ensures that the process is fair to other candidates.
- Keep the starting date within three weeks of acceptance. Let the candidate know you will work with them to assure a smooth transition and stay in communication during this period.
- Show a personal interest during the offer to starting process. This period can be difficult due to relocation, ending previous relationships, and future uncertainty. Constant communication shows the candidate that they are supported and concerns are addressed.