Almost Half of Candidates Reject Job Offers. Here’s WhyMarch 6th, 2014 | Articles, Hiring Resources | 1 Comment »
An MRINetwork study surveying recruiters found that over 42 percent of candidates rejected job offers during the second half of 2013. Most occurred when candidates opted to take an offer from another company, bringing unfortunate recruiters on the other side of the aisle back to square one.
With that in mind, how can a hiring manager keep the best talent from drifting away before an offer is made?
Speed is an issue
Fox Business News reported on a similar survey that got to the crux of the problem: some hiring managers aren’t moving fast enough. Of the candidates surveyed in this separate study, 40 percent rejected an offer because another company finished its hiring process first.
At a glance, an extensive hiring process may seem like a practical idea. It errs on the side of caution and prevents a bad hire from happening in the first place. But the MRINetwork reports that most of the top candidates have several interviews scheduled in the same time frame. When vying for the best talent, the winner is inevitably the company that can outsprint all the others.
Don’t let candidates reconsider offers
That’s why, when you find someone who fits the nuanced criteria of your open position, you can’t lose any time.
“Slow hiring processes give candidates access to more options and more time to rethink their reasons for making a change,” said a recruiter in the MRINetwork survey.
That means, even if you are hedging your bets by interviewing multiple candidates at once, you need to pounce on a good candidate when he or she comes across your desk.
If you take too much time to vivisect the other talent, you may allow a great catch to swim just outside of your reach.
by James Walsh