As of March 2019, the US unemployment rate is at a record low at 3.8%, making it the ultimate candidate’s marketplace. With the market tight and more jobs opening than recruiters to keep up with, the one area that can always be refined is the offer acceptance rate. Top echelon recruiters follow a formula to ensure that offers are accepted even in this hot market. Here are the top 8 tips to use as your guide to taking your recruiting game to the next level and making every offer count.
#1: Create Transparency in your Job Ad
There are job descriptions and then there are job ads. People want to know not just the skills and requirements of the position, but also what's in it for them. This includes not only specs of the position, but the cultural expectations, benefits and most importantly, what the job is paying. Being open about the company and the salary range will save you time and surprises from candidates who you fell in love with during the interview process, who ultimately you can’t afford.
#2: Roll Out the Red Carpet
Highly qualified candidates have options, many options in the marketplace. This means that not only do you have to sell your candidates, but you need to roll out the red carpet to them in the interview process. From your very first interaction, you want every candidate walking away wanting the position, even if you are still unsure. Share information about your company, talk about a day in the life, get hiring managers on board, share personal experiences and create a first class candidate experience until the very end.
#3: Time Kills All Deals
You have heard the saying, and it's true, especially with candidates. The market is moving fast and candidates want to be chased and wooed. Move your communication to texting instead of emailing to increase faster response rates. Having a sense of urgency in the hiring process will maintain candidate interest, reduce negotiations and ensure your offer is at the top of the candidates list.
#4: Know Your Market Intel
As a recruiter, your job doesn’t stop at creating a short list of candidates for hiring managers and driving the process. Your value to hiring managers, executives and clients is your keen market intel and network in your space. They seek you out as a key business partner to understand who is moving where, what companies are buying who and how competitors are reaching talent. Keeping an ear to the ground will allow you a competitive edge with candidates in the offer process.
#5: Get Personal
People are attracted to people like themselves. This includes who we chose to work with. Get to know your candidate on a personal level by asking deeper questions to understand their expectations and lifestyle needs. Get to know what is truly motivating them to move and be open to them along the way. Include more personal ways to connect with them, including texting. By the time the offer is ready to be presented, you are not just presenting a job with numbers, but a life changing opportunity that is customized to your candidate.
#6: Be Open to Negotiation
Everyone loves to “win” a negotiation. Be prepared on the front end to negotiate your offer and have your negotiation window ready when the offer is presented. Allow your candidate the opportunity to “win” a negotiation while still meeting your hiring expectations. It’s a win-win.
#7: Remove Obstacles
By the time you are extending an offer, you know your candidates wants and desires, but understand that some obstacles need to be removed for them to take your offer. For instance, if you are offering to relocate a candidate, be prepared to offer a relocation package. Or, if you are asking for significant travel, be prepared to increase their weeks of vacation.
#8: Ask the Tough Questions
At the end of the offer process, ask candidates the uncomfortable questions, such as, why they are rejecting your offer or what can you do to overcome their reservations. Many times, it’s the answers to the uncomfortable questions that are the most telling in ways that we can improve our offer acceptance rates or finalize a final offer. Ask and you shall receive.