Right now, it’s a candidate-driven market. The best talent available in any industry has the luxury to choose the company they wish to work for, they have the power to bargain for a better deal and they don’t have to abide by everything that a company may deem fit. Many companies tweak their policies to recruit the best talent. If you are missing out on top candidates, you may want to be a tad more flexible. Beyond that, there are several factors that may be hindering your chances of recruiting the top candidates.
Let’s take a pragmatic view of what might be working against you while recruiting, that may be causing your firm to miss out on top candidates.
There is always more than one reason why top candidates may turn down your job offer. You need to find out what these reasons are. For some people, it could be just a matter of convenience. Where your office is based, where they live, the kind of setting you have and other aspects that you cannot change may be the reason. You obviously cannot change the location of your business or suddenly change the infrastructure.
In some cases, other companies manage to present their job offers before you do and the top candidates may already commit to one of those jobs. It is a simple case of timing. It is also common for top candidates to dislike the interviewing process or those doing the recruitment, and they might not feel comfortable. If you delve deep into the trends or reasons of rejection, you would figure out how you can fix the problem.
The most generic reason why top candidates turn down job offers is salary. The salary and perks you have offered may be below the market standards. Another company may have made a much better offer or the candidate may have certain specific preferences pertaining to incentives and salaries which your company may not be able to fulfill. If your salaries are much lower than market standards, then you need to review the policy as it would always come in the way of hiring the best talent.
Slow, delayed or indecisive recruitment approaches often hurt a company and the top talent bags the jobs that are swiftly offered. Just as the candidates will have more than one option, companies should also have other doors open. Don’t zero in on just one candidate. Have a plan A, plan B and plan C whenever possible.