Closing More Active Candidates

Closing the deal is such an amazing feeling. But, as a sales leader, it can be disheartening to hear your top candidate say, "I'm currently looking at a few other offers. Can I get back to you in a couple of days?"

Starting the hiring process all over again takes time and effort, which sales leaders prefer to avoid at all costs.

When hiring top talent for any role, candidates often receive multiple job offers.?

In such a scenario, effective tactics are crucial to help persuade them to choose your organization over others. We've compiled a list of the top ten strategies for closing on candidates with multiple offers, ensuring they select your company as the best option for their career growth.

Top Tips To Close Active Candidates

In light of recent events, loan officers are exploring different options, and sales leaders must be mindful of the emotional well-being of active candidates. By demonstrating empathy and understanding, leaders can create a positive and supportive environment for their team members.

It's essential to follow the golden rule of "always be closing" (ABC) during the hiring process, starting from the initial interaction with a prospect. This can help improve your candidate's courtship and get you to the closing table.?

Regularly reassessing and optimizing your courtship can help you attract and retain the best talent while minimizing the risk of losing qualified candidates to other offers.

When we talk about compensation, benefits, and guarantees with candidates, simply ask what they are currently looking at and do not offer a low-ball transition package.

1. As Alec Baldwin stated in the Glengarry Glen Ross film, “Always be closing." This is essential to winning the best candidates in recruiting.?

* Sales leaders must start closing active candidates at the first meeting rather than waiting until the offer stage.?

* Hiring managers should find out early on what opportunities the candidates may be considering and what their HOT Buttons are in those opportunities, other than the money.?

* Offer a competitive overall package, increasing your chances of securing the best candidates.

2. To expedite the hiring process, scheduling a second interview during the initial meeting is imperative.?

* When interviewing active candidates, courtship must be swift.?

* Request an outline of their resume during the second interview.?

* When evaluating multiple candidates, arrange multiple interviews in a single day.?

* Remember, every moment you take to decide gives the candidate a chance to explore other opportunities.?

* Time is of the essence to secure the best candidate.

3. Hiring active candidates is about more than just the money. Take the time to understand what they're looking for in their next role.

* Many sales leaders assume they know what would make a candidate interested in the position and ultimately accept it. However, the best way to truly understand a candidate's preferences is to ask, " What is on your wish list for their next role?"?

* Encourage them to share their thoughts, take notes, and write them down.?

* This helps you better understand their motivations and shows your candidate that you're focused on their best interest.

4. Avoid negotiating a potential employee's monthly transition package lower than their current monthly earning.?

* This approach could result in losing the candidate. If you want to hire a good employee, paying them what they are worth is the best approach.?

* It's important to avoid assuming that the money you offered the previous loan officer is enough for the future loan officer.?

* If they don’t jump from company to company, the likelihood is that when they accept your offer, they will stay with you much longer than those moving because of the money. Measure your offer to how much they can bring to the table with a longer tenure on your team.?

* Compensation plans depend on the market and what other opportunities are available. Last year's market or your feelings toward market compensation are irrelevant if you continue to lose candidates to the competition.

* Conduct market research on what other companies are offering to ensure that your compensation package is competitive. Simply asking each candidate what other companies offer and documenting it creates your market intelligence.

5. When offering a candidate a job, it's essential to make them feel valued and excited about the opportunity.?

* To achieve this, give them a tour of the office they will be working in and introduce them to key people. Surprisingly, some candidates may have never seen their future office or desk before they start, so it's essential to show them around.?

* You can also showcase areas such as staff relaxation zones or production floors where the company's products are being created, which can help them get a sense of the team’s energy.?

* By doing so, you can give the candidate the royal treatment and make them feel right at home.

6. Having a backup plan when negotiating is always a good idea.?

* We see this all too often: an overzealous sales manager makes their final offer without gaining a commitment from a candidate.

* You can slow down the process at the offer stage and make a verbal offer before laying it all out for a candidate.

* Knowing that you have a robust (final offer) backup plan can give you confidence, which can be apparent to the other party and subtly weaken their negotiating position.?

* If the competition has a better offer, you cannot match it, or the candidate is only focused on the money and not committed to joining YOU. Having a backup plan empowers you to cut off the negotiations and move on to the next candidate without wasting time.

* Candidates may jump to another offer. Remember, they are still candidates, just with a different business card. So stay after them with your final offer as the "dangling carrot."

To make a long story short

When a sales leader is experiencing too many candidates deciding to accept another offer, it's a good time to revisit their recruiting, courtship, and closing process and see where improvements can be made.?

Consider streamlining your courtship with fewer interviews or reducing the time to make a final decision about a candidate.?

The best approach could be to schedule the initial and final interviews closer together. This would reduce the time candidates have to explore other options and help the hiring team remember vital details of the interviews.?

Most importantly, people go to work for people they like and trust. Knowing your value as a leader is an intangible element they will not get from a competitor.

By taking these constructive steps, you can improve your courtship and attract top talent to YOU and your company.