Once you find the perfect candidate for an open position, the only step in the way of successfully hiring them is the job offer. The job offer can make or break a potential working relationship. Today we share 5 tips to make the most attractive job offer.
Creating an attractive job offer is important for all types of candidates. Whether they directly apply or entered through active sourcing processes, the most enticing job offer will increase your chances to contract that talent.
Candidates who directly apply on your career page and are actively looking for a job, most probably apply to around 20 other companies on average. This means the probability is high, that they have received more than one offer. Sourced candidates on the other hand, might already be employed and are not actively looking for a new job. This means that the job opportunity should be attractive for them to consider it in the first place.
As you can see, an enticing job offer is relevant for all candidates. So how can you ensure that your job offer stands out when your ideal candidate might have multiple offers?
There are several key factors to consider when creating a job offer. It is really closely related to the decision-making process a candidate goes through. Think about your candidate and what factors they would consider in their decision-making.
In this post, we will provide 5 tips to make an attractive job offer that stands out:
Ideally, you convinced the candidate right from the start. “Selling” the position is important to create a close relationship and increase chances of offer acceptance. Already during the interview, you can hear what motivates the candidate, find out what work environment is important to them and personalize the information to the given context. Share the employee value proposition (EVP) and highlight how you support them in achieving their goals.
What one talent perceives as a benefit, can be different to another talent. This is even more distinct for different positions. Tech talents might care about different work aspects compared to sales talents. Therefore it is not just important to cover details such as: benefits, schedule, growth opportunities, that can be viewed as “universal”, but include job relevant details, such as “use of latest technologies” or “travel opportunities”.
When we think about career choice, there are various factors that may influence a candidate’s decision-making. You should consider each factor when developing your job offer. If you personalize it to the candidate’s decision making process, your job offer will stand out:
In addition, there are some generational differences in what is valued at work. According to LinkedIn Global Talent Trends 2020, the following factors are considered to be valued at work:
Don’t waste time when it comes to making a job offer. Make the offer soon after the interview. Since we are experiencing a candidate-driven market, especially when competing for top talents, it is crucial to be fast regarding feedback. Top talents likely have multiple offers and are not waiting around for feedback. If the person is as good as you think they are, other employers will probably think the same. In fact, top candidates are off the market within around 10 days.
Limit any doubts by providing a detailed offer that includes all relevant information.
Candidates expect the offer to answer questions, such as: job title, job responsibilities/tasks, date of employment, salary, benefits, reporting structure and more. Leaving out details can lengthen the process, due to more back and forth, leading to an increased possibility for the talent to drop out.
Don’t forget that benefits are also an opportunity to make up for a smaller salary budget, if that is your restraint. Beyond monetary benefits, your offer should pay attention to little details. People spend a lot of time at work. The workplace is like a second home, so it’s important to feel comfortable and of course, socially accepted. Benefits such as social activities or free lunches can boost workplace culture, and make your offer stand out from others.
Be realistic in the salary you offer right from the start. You don’t want to scare off a potential employee by offering them a salary that is significantly lower than the industry average. The compensation can be a factor that sets you apart from other job offers, especially within areas where there are multiple employers with similar work cultures.
Ideally, you offer a salary that is a little higher than the average, if you want to increase your chances. You can do research to check the going market rate for the specific position. If possible, check out rates of competitors, and offer around 5-10% more.
You can send the offer over email/in writing or over the phone/in person. There are different ways to deliver the message. We advise delivering the message over a phone call if possible, as you can express excitement and also judge the candidates reaction better. After delivering the message, a written offer should be sent out.
However, regardless of what medium you choose, you should keep it personal. Explain your decision making and reinforce the positive factors that made you choose the talent. Instead of comparing the talent to other applicants, you should try to mention things that highlighted the talents strengths.
Making a great job offer is about being personal, responsive and timely.
The goal of the job offer is to receive an affirmative response from the talent, to lead to a successful hire.
Looking for your next talent? Find out how you can optimize your recruiting for success. Get in touch today and talk to an expert.