Did you know that top candidates are off the market in less than 10 days? If you are embarking on hiring initiatives this year, be prepared to move quickly. Read on for further insights.
If your top candidate accepts an offer from another company before you have made your offer, should you present an offer in hopes they will change their mind?
(Answer may be found at the bottom of this newsletter.)
Are You Hiring People or Unicorns?
Think back to your last significant hire. From the time the hired candidate applied, how long did it take you to make an offer? If it was more than 10 days, your risk increased greatly that the candidate would receive and accept an offer from another company before you had a chance at bat.
In the past year, we have worked with several companies that lost their top candidate due to long decision making processes. Some of these companies were taking 4-6 weeks or longer to make a hiring decision after the first office interview. Reasons for the delays vary, yet here are four common culprits.
If your top candidate accepts an offer from another company before you have made your offer, should you present an offer in hopes they will change their mind?
Answer
Most candidates will honor their commitments once an offer is accepted. Yet, if the candidate was your only viable option, there is no harm in making an offer. However, don't have high expectations that they will change their mind, unless the other offer is at a substantially lower pay scale. One benefit to making an offer, even if rejected, is that the candidate may come back to you if their new job doesn't work out well.
