One out of five of the top candidates will turn your job offer down. Candidates have options and they won’t accept your offer if some important aspects of the job aren’t included.
- The Organization’s Commitment
Financial compensation is not the number one factor in recruiting. Closing the deal is also about showing the candidates how committed the company is to reaching success. The candidate will not want to be a part of an organization that is not experienced, resourceful, and driven. The CEO must show his or her enthusiasm for the company and its employees. He or she has to show the candidate that their position in the company would be greatly valued.
- The Job
It is incorrect for the manager to only inform the candidate about the positives of the job. Research shows that a realistic approach explaining the positives and negatives about a position will cause a higher acceptance rate, better employment satisfaction, and lower employee turnover.
- The Boss
Employees don’t quit their jobs, they quit their managers. Incompetent managers can seriously hurt an organization. They do their own jobs badly while making other employees unmotivated and incapable of reaching their potentials. In a study by Jeffrey Pfeffer and Robert Sutton, it was found that 60%-75% of employees stated that the most stressful part of their job was dealing with their immediate supervisor. The manager must be closely involved in the hiring process to show the candidate their true character and commitment.
The pay of the best candidate depends on the market rate for the position, the prospect’s past salary, and the existing status of compensation within the company. You want the employee to put in effort in the beginning and throughout their time at your company. However, you do not want to make existing staff feel unimportant. A balance between salary, bonus, and long-term incentives has to be created.