When you find an applicant that you deem the perfect fit for your company and its culture, closing the deal is the next natural step. However, while you may have chosen him or her, the potential hire may still be weighing options. Here are suggestions on getting the candidate to choose you and show up ready to work on Monday morning.
Don’t Waste Time
Once you have decided that you want an applicant on your team, do not delay. Closing the deal as soon as you can helps avoid missing out on a good opportunity. Not only does a speedy offer show that you know what you want as a company, but it also proves to the applicant that you are serious about wanting them to join you. In addition, it shows you are respectful of their time. Avoid waiting too long before providing the offer as you will also give the applicant an opportunity to seek out or be recruited by other companies.
Prior to making the first offer to the applicant, familiarize yourself with the salary range that will likely be expected. Create a fair and solid offer to let the potential hire know that you understand his or her value. Do not undercut the industry standards. Chances are that a quality applicant has already done the research and is quite aware of what the going rate for this particular position should be. If you are unsure what a competitive salary currently entails, engage in research prior to closing the deal to be sure you do not insult the applicant with low numbers. Take into consideration the salaries of current employees with similar positions or roles within your company. While saving money is always a plus for the company’s bottom line, it does not do you any favors to lose an all-star hire to another company whose offer was more attractive.
While the salary numbers on your offer letter are certainly a valuable aspect, there are numerous other ways to up the ante. Get creative with incentives that you can provide to the applicant if he or she were to join the company. Profit sharing, sign on bonuses, stock options, and other financial incentives are great add-ons. Consider offering lifestyle benefits such as flexible working hours, telecommuting options, or perks that may accompany the position. These additional benefits can be a deciding factor when a high salary isn’t initially an option or when numerous offers from competing companies are on the table.
Verbalize and Document
Always try to first extend your job offer in a verbal fashion where you can go into details about the job itself as well as compensation and benefits packages. Take this time opportunity to answer any additional questions that the potential hire has for you. Once you have extended the offer verbally, send the entire proposal once again in writing. Outline the job title and accompanying responsibilities, all financial numbers, benefits, and any perks that are also wrapped into the package. Stick only to what is definitely being offered and steer clear of suggesting anything that may not end up on the table at a later date. This removes any chance for miscommunication and allows you to clarify and expand upon any points previously made.
While it is hopeful that the financial compensation that you offer in your package will be of a competitive nature, it does not hurt to promote highlights of your company at this time. Be sure to mention opportunities for advancement as well as any potential for bonuses or other financial incentives. Showcase opportunities that are unique to the company and explain the benefits of the corporate culture and how it matches up with the applicant’s own lifestyle.
Don’t Overdo It
Pay attention to the reaction of the candidate if he or she is reluctant upon receipt of your offer. Try to decipher whether it is simply a ploy in furthering negotiations or the applicant is truly leaning away from your company. Determine the maximum offer you are willing to extend in closing the deal before moving to levels that do not align with the experience or potential offered by the candidate. Closing the deal and successfully bringing aboard an all-star new hire can help bring a sense of freshness to the company and add to the culture. Be ready prior to your first meeting to get your game face on. Use these tips to get the candidate to choose you and you will soon be swimming in new talent. Learn more about increasing business and adding all-star new hires to your roster by using the resources available at Mighty Recruiter.