It is forever possible that candidates have been applying for multiple professional positions, it’s likely the offers are rolling in. Getting several offers for professional roles is amazing for any candidate. Most of them accept one offer then continue to apply or wait for other offers, such candidates are known as Offer shoppers. Here, in this article, we are going to discuss “Offer Shopping” and “How to prevent candidates from backing out?”
When you offer a position to a candidate, you furthermore plan to invest in him. On his joining date, you proceed to call him, try reaching out to him via email or texts, but at last, you uncover that the candidate has welcomed an offer from another organisation.
Sounding familiar? Offer shoppers are a true nuisance for recruiters and employers alike. They add extra workload to the HR department and increase hiring costs for the employer. On top of that, the position that ought to be filled remains vacant adding further liability.
Some of the consequences when recruiters encounter offer shoppers are:
- The hiring has to be restarted
- Time spent on the candidate wasted
- Delay in the completion of organisation’s goals
- Shoot up in hiring costs
- Demotivates recruiters
So what’s the best way to thwart candidates from backing out? To evade such candidates it’s important to understand the possible reasons why candidates back out.
Why do candidates back out from an offer? | Offer Shopping
Most possibly, because the current organisation convinced them to stay, they got a better fitting offer from another organisation or a personal situation disables them from joining the company.
Almost every time you’ll find that one of the above reasons is true. Dealing with these possibilities includes some good practices:
- Understand the candidate’s intention for a job change
- Connect with the candidate as soon as he submitted his resignation to another company
- Staying in touch continually with a candidate is important
- Make the candidate feel he is important for your organisation
- Reiterate the advantages and the security of the job and also promise growth (if possible)
- Ask the right questions at the interview stage to avoid drop-offs.
- Bypass engaging poorly motivated candidates.
- Be supportive, see if you could extend the joining date in case the candidate demands it.
How to prevent candidates from backing out? | Prevent Offer Shopping
Keeping candidates interested in SMEs and Startups might be a bigger challenge. Here are a couple of tips that can help you to seduce a quality candidate.
1) Sell the vision
Hopefuls must buy into the vision of the organisation. Convey the dreams and intents of the organisation and what part you anticipate the candidate to play in it.
Assure that the goals of candidates are aligned with the company goals. If the candidate is enthusiastic about his/her role in shaping the vision of the organisation, you’ll rarely see him/her backing out.
2) Hire potential over polished talent
In the job market, big companies also look for the best talent, who can offer a lot more in terms of salaries, job security and employer brand.
It’s best to hire potential over polished talent unless you’re remunerating candidates with more than competitive salaries.
3) Not everyone wants to work in large corporates
While the majority of hopefuls that you’ll come across will appreciate working in low pressure and a stable corporate job. There are a handful of candidates there who adore the sentiment of a Startup or SME. These candidates prefer to toil in surroundings where they can be a part of an evolving story. Seeking these candidates will endow you with a lesser chance of backing out.
4) Notice period buyouts and negotiations
If you can afford it, it’s not a bad option to buy out a candidate’s notice period. Since it will compel them to join your business. This would directly diminish the chances of backing out. If a buyout isn’t feasible, you can invariably help the candidate negotiate with his/her current employer to curtail the notice period. Reducing the time it takes an employee to connect with you after an interview will help you decrease drop off rates.
Our Suggestions to tackle Offer Shopping
Before winding up this article, here we also have some suggestions for you(recruiters) to develop interest and change candidates’ mindsets so that they cannot back out.
- Your approach is to be asking solutions for the problems instead of offering a role. Present the problem which you’re trying to solve, this will definitely make them excited and curious about getting the solution for you.
- By providing better candidate experience and interview experience, you can nourish your new relationship. Give them a hint to follow your company on social media. Follow each other on LinkedIn.
- One of the best ways to keep your selected candidates engaged is, arranging the onboarding session for them right after a week from their date of acceptance.
For more updates, stay tuned!
Also Visit: Work from home vs Work from Office