As a small business owner, you make deals all the time. You make a sale to a customer, secure financing, and reach agreements with vendors. But, do you ever think about one of the most important deals you can make—getting top talent to accept your job offers?
Hiring is a time-consuming, costly, and stressful process. It generally takes weeks of planning, screening, and interviewing. And just when you think you’ve found the perfect candidate, you’re faced with the harsh reality that they don’t have to accept your job offer.
So, how do you spruce up your job offer? How can you make sure that you close a deal with a candidate and emerge with a new employee? Try these tips to improve your chances of getting candidates to accept job offers.
How To Close The Job Offer With A Candidate
You can’t force a candidate to accept your job offer. But, you can entice them to want to work for your business. And let me tell you, it’s not just about the money.
After being an entrepreneur for over 30 years, I realize that salaries are important, but they might not be the deciding factor for a candidate to choose your business. Consider the following tips to improve your hiring process.
1. Craft Clear Job Postings
Before you can extend a job offer, you need to find candidates who qualify for the position. You can start the sourcing and hiring process on the right foot by drafting an accurate representation of the open position.
Your job description must be specific so it attracts the right people to apply. Talk about the skills and experiences that are necessary for the job. And, be clear about what the job responsibilities are.
Although you want your job description to be detailed, you don’t want it to be too lengthy. At the same time, it shouldn’t be too short. The length of your job posting might be influenced by things like your industry and the position. Generally, you should keep job posts between 500 and 1,000 words.
2. Create Competitive Compensation Packages
Offering a reasonable salary is probably obvious. You know salary is an important part of getting a candidate to accept your job offer. In fact, 28.8% of candidates who rejected a job offer said it was because the salary was too low for the position, according to a recent State of the Recruiting Industry report conducted by Top Echelon, LLC (one of my companies).
Candidates, especially candidates in niche industries, want to accept jobs with attractive salaries. Because salary is a pain point for candidates, you need to know how to determine a salary that will seal the deal. But, how can you know what a fair salary is?
You should conduct market research to help you decide on a salary range. Use resources like the United States Bureau of Labor Statistics (BLS) and Glassdoor to determine fair annual salaries for different occupations.
After you’ve come up with a fair salary range, you might include it in your job description. And, you can ask candidates the minimum salary they will accept for the position. That way, you can weed out job applicants who expect too high of a salary.
Keep in mind that salary isn’t the only form of compensation you can offer candidates, nor is it the only thing they’re thinking about. Sixty percent of job seekers want to know what additional benefits you offer. Consider sweetening the deal with benefits like health insurance, flexible schedules, remote work options, and a generous paid time off policy.
3. Promote Your Employer Brand
Ask not what your candidates can do for you, but what you can do for your candidates! OK, so you need to consider a little bit of both in the hiring process.
You need a high return on investment (ROI) for each employee you hire. But, you can also sell your business by showing off your employer brand strategy.
Your employer brand is your business’s reputation for how it treats its employees. It also includes the value that employees receive from working for you.
When you sell your employer brand, highlight the value employees will receive, like career development. According to one Gallup poll, 87% of millennials and 69% of non-millennials think employee development is important in their jobs.
According to Top Echelon’s report, 23% of candidates rejected a job offer because other offers were better. Showing candidates what you can offer them in relation to their career goals might set your offer apart from the competition.
4. Shorten Your Hiring Process
Nothing’s worse than losing out on something great because you dragged your feet and missed your opportunity. Although you need to put time into the hiring process, it shouldn’t be so long (e.g., months and months of waiting) that you scare away top talent.
Shortening your hiring process gets your offer on the table before other companies. And, it makes the candidate feel wanted.
If you drag out the hiring process, your top candidate might accept an offer with another company. According to Top Echelon’s report, 22.4% of candidates turned down jobs because businesses took too long to make an offer.
And when you are moving candidates along the hiring process, don’t neglect to follow up with them. Keeping in contact with candidates can ensure that they are still interested. Letting candidates know where they are in the hiring process might discourage them from accepting other offers first.