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Dos & Don'ts
"If an employee receives a job offer at another company, should you extend a counteroffer?"
(Answer provided at the end of the newsletter.)
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5 Reasons Why Candidates Reject Offers
Many employers have long hiring cycles taking up to two months or longer to make a hiring decision after candidates have been identified. Top candidates may be long gone by the time hiring managers are ready to extend offers. And with fierce competition for talent, job offers are now often rejected. According to the Global Talent Recruitment Survey, candidates reject offers for the following reasons.
- Total compensation is not high enough. (39%)
- Accepted an offer from another company. (29%)
- Accepted a counteroffer from current employer. (11%)
- Job responsibilities not in alignment with career goals. (4%)
- Spouse doesn't want t relocate. (4%)
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Rejected Offer - 3 Employer Responses
Your perfect candidate has been found! Interviews have been successful and your top candidate appears highly interested. A job offer is extended, but is rejected. What should you do now?
- Encourage: Find the reason why. Make sure the candidate fully understands your opportunity. Sometimes they just need to be reassured they are making a good move.
- Counter back: Sweeten the pot with higher salary and benefits, more vacation time, better job title, or more advanced responsibilities.
- Walk away: Sometimes the candidate knows best. Trust their decision and move on to other candidates.
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Safari Interview Tip:
Assure top candidates that actively interviewing with other companies is expected. Yet, ask them to call you before they accept another offer. This allows you the opportunity to accelerate your hiring decision and extend a better offer.
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Answer to Today's Dos & Don'ts
"If an employee receives a job offer at another company, should you extend a counteroffer?"
Answer:
An untimely departure may have you asking your employee to stay. However, the statistics are not in your favor. The National Business Employment Weekly reports that four out of five people who accept counter offers are gone within a year. If you make a counter offer, make sure you know the real reasons why the employee was tempted to leave. You have to resolve the root cause to develop a lasting working relationship.
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