Many companies have gone through the cycle of uncovering a top candidate who then slips through their fingers and chooses a competitor.
According to recent figures, nearly 17% of job offers are rejected in the United States alone. This means that 1 in 6 candidates will turn down a company in favor of a different job. Experts further suggest that this trend will continue to increase. This only proves that companies must work harder to make an eye-catching first impression, especially now that our labor market grows rapidly competitive with job seekers becoming choosier.
Rejected job offers are costly as they represent wasted time and money. To avoid rejection, companies need to recognize and understand why a candidate may choose a competitor instead. Keep on reading for several of the top reasons candidates may reject a job and for practices to put in place to avoid these traps.
Candidates are choosier
One main reason rejected job offers increase is that candidates have grown choosier. With more options and perks available, offering a job has become a battle for talent. For example, in professional and technical industries, candidates turn down nearly 20% of job offers. Because workers in these industries are in such high demand, they are keener to compare different offers and then choose the one that is perfect for their situation.
Often, the factors that affect a candidate’s job choice will be out of your control, be it location or cost of living. However, by spending time enhancing your workplace culture, creating enticing job listings, and emphasizing the unique perks your business offers, you might have a higher shot at convincing candidates to choose your company.
The interview is crucial
Interviews play a key role in dictating whether or not a candidate will sign the job offer. For instance, research has proven that a difficult interview can increase the odds of a candidate accepting a job offer by 2.6%.
Moreover, candidates can even see a challenging interview as encouraging. For candidates who want to work in an intellectually-stimulating environment, they may view a tough, complicated interview as proof that a company’s work environment will be a good fit. For people who have career growth in mind, the interview is the primary place where they can gauge how to succeed.
While companies may view a difficult interview as a way to dissuade candidates from choosing them, research shows that businesses now have room for testing out new, challenging interview formats. It’s recommended that companies carefully create an intellectually-stimulating environment without going overboard. They can better encourage candidates to ask tough questions also and envision themselves at work.
According to data as well, candidates across the world are more likely to choose a company that tests them through a difficult interview. Job seekers in the United Kingdom, United States, Germany, France, and Canada all revealed their preference for challenging interviews. So, don’t hesitate to test potential candidates during an interview. It may just give you an edge against competitors.
If your company finds it challenging to uncover, attract, and retain talented candidates, reach out to Infinity Consulting Solutions (ICS). We will help you identify and resolve potential problem areas that may dissuade candidates from accepting your job offers. With ICS, you can save time and money from candidates who may turn you down and instead focus on talented workers who will enable your business to enjoy long-term success.