The offer stage is an extremely important part of the hiring process. After all, it’s the part right before the candidate (hopefully) accepts your offer of employment.
This importance is escalated when you’re attempting to fill your most important positions with the very best candidates in the marketplace. This is the case because those candidates usually have options that are available to them.
Specifically, the very best candidates are being wooed by more than one organization. As a result, they’re often involved in the hiring process of more than one organization (sometimes as many as three). So if your organization does not handle the offer stage with the utmost care and approach it in the correct fashion, then you increase the chances that your offer will NOT be accepted.
That’s why there are six things you should know before extending an offer:
#1—You should know what you can afford to pay.
Makes sense, doesn’t it? This allows you to adequately plan and determine what you can safely offer for the position you’re attempting to fill. The last thing you want to do is make an offer to a top candidate that you really can’t make or for which you haven’t received the proper authorization. This step represents a crucial and logical starting point.
#2—You should know the current pay scale for the position in the marketplace.
You should know this, especially if you’re attempting to fill an important position. If you’re working with a search consultant, then they should definitely know this information. If you don’t know this number and you’re not working with a search consultant, then somebody within your organization should have this information.
#3—You should know the level of compensation that the candidate is seeking.
It’s difficult to make an attractive offer if you don’t know what the candidate considers to be attractive. Your recruiter or search consultant should absolutely know this number, and once again if you’re not working with one, then you’ll need to secure it in some other fashion.
#4—You should know 100% that the candidate will accept the offer.
This is, of course, easier said than done. However, it’s also how you guarantee that you won’t have any surprises. There are some people who believe this might be impossible to obtain, but if you’ve engaged the candidate throughout the entire process and you know the level of compensation that they’re seeking (see #3), then acceptance should be assured.
#5—You should know who will make the offer.
Who within your organization will make the offer? If you’re working with a recruiter or search consultant, then make sure that they extend the offer to the candidate. It’s what the candidate is expecting, and the offer stage is not the time to be springing surprises on the candidate. You want to put them at ease and make them feel comfortable.
#6—You should know how the offer will be made.
Will the offer be made over the telephone? Face-to-face? Via email? A combination of these? How the offer is made is just as important as what the offer contains and who extends it. You should have a set procedure for executing the offer stage and a plan for executing that procedure.
Attracting the best and brightest candidates in the marketplace is just one part of the recruiting and hiring process. Not only must you attract them, but you must also convince them that working for your organization is the next logical move in their career.
Then you must make an offer that will solidify everything you’ve told them and ensure they begin employment and show up for their first day of work.
If you’re looking to hire exceptional candidates, then we invite you to connect with our team today and see what The Doepker Group can do for your organization.
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