Reneging offers ! Issue’s of Indian market

Reneging offers ! Issue’s of Indian market

When a candidate renege’s it has multiple implications .The business loses charge-ability, the recruitment cycle restarts and we are not able to fulfill demand on time.

Renege (definition):To go back on a promise, undertaking or contract

‘Renege’ today is an often used term in IT industry that refers to a potential employee who accepts an offer letter but does not join employment. Reneges present a peculiar problem to the Indian IT services industry.Typically,the recruitment machinery in any Indian IT company spends significant amount of resources in identifying and filtering pertinent talent across fresh and lateral hires. After umpteen rounds of rigorous interviews, offers of employment are made. But recruitment teams still cannot heave a sigh of relief as they remain wary of reneges. ‘No show’ is a like a Damocles sword hanging over the recruitment teams. It is imminent and an ever present peril. Due to this persistent problem of reneges, recruitment teams in IT companies repeatedly go through the vicious cycle of identifying potential employees,losing out to competition and going back to the market for hiring candidates.

Why do prospective employees renege?

The reasons for reneging could be varied like better offer in terms of salary and job functions from other potential employers. Also, most often than not,prospective employees are weaned away due to lack of engagement at an individual level.

Below are somethings which companies can do :

1.Invest in a predictive tool which would alert the business and HR team on prospective reneges.

2.They should have connect sessions with business to know more about the technology investment and other things the company is doing.

3.There should be buddy connect with business so that they connect at the hip.

4. “WEBINARS “ are the best way to have the leaders speak to the larger joiner people.

5. There should at least 3 touch points with business to make sure that all quarries will be answered and no surprises

6. Show the big picture and how the candidate fits in it.

7. Asking the right questions at an early stage can help the recruitment team evaluate the candidate’s seriousness and willingness to make a change

While eradicating reneges completely is not possible, these steps can help bring down their percentage. They can also help recruiters get on a better footing with the candidate. Remember, a candidate who has a great experience and is properly engaged will be inclined to take up your offer or recommend your company to other potential candidates.