How to Effectively Increase your offer to joining Ratio

The biggest irony in the job market is when candidates look out for the jobs they don’t found the most suitable one and when companies look for talent they didn’t fount the right ideal fix. Companies these days deploys all kind to resources starting from Psychometric testing to various other kind of skill assessment to find out the right fit and offer candidates the most competitive remuneration, still even in this time of Corona epidemic the low percentages of candidates joining is a major challenge for majority of organization especially for IT sets where projects run on tight time lines.

According to one of the Peoplzpro consulting survey,60-65 % of the total candidates would stop filling the application form for a job if the process is taking too long. Similarly close to 65-70 % would reject the job offer if the organization has a negative reputation in social media ie glass door, indeed and google etc. lets see the various options ensuring tangibly increasing the offer to joining ratio’s

1) Better Compensation & Opportunity cost: Surveys show that once a candidate is up in the market looking for options , majority of candidates if get a better salary hike ,doesn't even revert to organization who offered them previously. Organizations majority of times miss out on the opportunity cost , if any candidates joins on time and value proposition that he is going to bring , rather the focus would be on to maintain the average cost per hire ,resulting in legging behind in luring the candidate to join.

2) Treat your candidates like customers: with market opening up, organizations are starving to have the right talent which will take them to next level, it is equally important to treat potential candidates, which are very cerebral and competitive. Small things matter a lot like availability of the hiring panel, weather the candidate is getting a call on the set time or not. Potential candidates can not be taken for granted and need to be given the same kind of importance and respect as to customers.

3) Train All Hiring Managers: 9 out of 10 professionals say the interview experience can change their minds about a company ,for better or for worse. Majority of organization lack in training their own internal teams ,operations managers and hiring panels on how to truly reflect on the values ,ethics and brand that they would like to reflect. Starting from how a candidate has been treated the moments his first interaction starts to the final salary negotiation round and releasing of offer all internal communication interaction plays a significant role in deciding if a candidate is going to join or not.

4) Proactive Candidate engagement: Gone are the days when rolling out offer letter only ensure that candidates will join. Organizations need to keep the candidates warm. Continuous communication plays a pivotal role in continuous candidate engagement the candidate is been hired through Employee referral , the besides the hiring team , employee who refereed the candidates can also ensure that refereed candidates joins. Similarly Talent acquisition can brief candidate on couple of key factors about the organization through continuous mailer, candidates can be invited on Team parties / get together, mailers on candidates anniversaries, birthdays and special days make a lot of positive impact.

Besides the above mentioned points other measures such as joining bonus, shorter interview process and short offer to joining period ,Buying the notice period, Targeting the Candidates based on ideal candidate profiling , Getting to know future colleagues ,Lesser time between offer and joining , candidate career alignments and future growth prospects etc also create a great synergy and sense of belonging, ensuring candidate joining the organization and contributing in sustainable growth