Have you ever made an offer to a perfect candidate only to have the offer turned down? Being jilted at the Altar is painful. In addition to the pain of rejection, the time and money you spent on the hiring process goes down the drain.
Long hiring cycles can be partially to blame for losing top candidates. Candidates’ interest wanes and competing offers may be received while hiring managers continue their search for a Purple Squirrel (a perfect candidate that doesn’t exist.) Yet, if that is not the problem and your job offer is delivered to a candidate in the same time frame as other offers received, why might the candidate turn your offer down?
According to a survey by Express Employment Professionals, 61% of candidates chose competing offers because the compensation was higher. Bottom line . . . money talks! Yet, that means 39% of candidates reject offers for other reasons.
Reasons why candidates reject offers other than money:
• Benefit package is weak
• Culture is not a good fit
• Job does not line up with expectations
• Location is not ideal
• Received a counteroffer
So, what should you do if your job offer is rejected?
Ask Why: It is important to know the reason why a candidate turns down your offer so you can learn from the experience and make adjustments for future hiring decisions.
Counter back: Sweeten the pot with higher salary and benefits, more vacation time, better job title, or more advanced responsibilities. Assuming no competing offers, the cost of re-starting the hiring process may cost more than bumping up the base salary.
Walk away: Sometimes the candidate knows best. Trust their decision and move on to other candidates.
Try again: Make an offer to your runner-up candidate or start sourcing again for a new pool of applicants. Stay positive. Sometimes a better candidate comes along!
If you need help navigating and negotiating an offer with a candidate, give us a call at 317-578-1310.