Job market is hot at the moment, especially the tech job market. Every company is on lookout for talented skilled employees. Due to the growing demand, candidates are often negotiating multiple job offers at the same time.
For an organisation that spends months looking for the right candidates, screening 100s of candidates, conducting several interviews, candidates dropping out just before joining is a huge issue.
HR managers across industries are facing this challenge and looking for ways to curb offer dropout rate.
Here are some tips to help you reduce offer dropout rate in your organisation.
- Clarity on Job Description
Ensure you have a clear and well-defined job description. Include the problems they are expected to solve and how important the role is to the organisation.
List down all the necessary skills and qualifications required for the role along with the experience that the candidate needs to have.
If the candidate is clear about the role and responsibilities & the candidate has understood the profile, they are very likely to be excited about the change and hence the chances of dropout are low.
- Time Taken to Recruit
Time plays a very important role in the recruitment process. A shorter process becomes critical because of the high demand and low supply of the skilled talent.
Evaluate your hiring process and ensure that you have the most efficient systems in place right from the time the profile is shared to the time the offer is made. Any inefficiencies or redundant steps need to be looked at and corrected.
A single day’s delay in making the offer can push the candidate to look out for another better offer in the highly competitive talent market.
- Better Candidate Experience
Top organisations bet on improving the candidate experience as much as they would invest on improving customer experience.
In the highly competitive skilled talent market, companies are working hard on ensuring that the candidates have a great experience in the hiring process.
Research has shown that very often offer acceptance / rejection is based on the experience that the candidate goes through during the hiring process. With multiple companies vying for the same candidate, the company that manages to offer “candidate delight” is the one that walks away with hire.
Use your company employer brand image and create a process that works equally for both the candidates and the company well. Treat your candidates like you would treat your potential customer.
- Pre-Onboarding Strategy
Pre-onboarding strategy is targeted at the time between the offer and the candidate joining date. This is highly crucial stage for an organisation to ensure that candidate on whom so much time, effort and money has been spent, joins the team as planned.
During this stage, a good pre-onboarding plan helps create a sense of belonging even before they join. This helps in reducing offer dropouts to a great extent.
Plan your communication to include regular updates on the company happenings with the prospective joinee.
Create some interesting activities like sharing team or employee success stories, meet the team (virtually or physically), meeting with the line manager, visit to the office, check-in call before the joining date, call or email about what they can expect on the first day, who they will meet, details of the office layout etc.
- Onboarding Strategy
1 in 4 employees leaves the organisation within the first 3-6 months and one of the reasons for this lack of clarity. Companies invest heavily in hiring and training the employees, only to lose them even before they complete the probation period.
Survey after survey proves that the first few weeks are most crucial for a new hire. Hence your onboarding strategy needs to focus on creating a special and memorable first few weeks for the new employee.
A tight and successful onboarding strategy focusses on ensuring that they new employees are incubated into the system well and are productive at the earliest.
Most companies provide a joining kit on day 1, which includes all the resources that they will need to start their work and work efficiently. Buddy system also helps in getting the employees to get familiarised with the processes and teams.
A good onboarding strategy that helps create a good impression & a sense of belonging, is one of the best ways to reduce early employee turnover.
Pro Tip
Partner With Staffing Companies
Staffing companies save you time and effort by providing you with contract and contract to hire employees for all your open positions.
The contract employees come with vast experience and great niche skills adding competitiveness and agility to your business.
You can hire the contract employees on your permanent rolls if you find them to be a good fit for your organisation.
Flexi Ventures is one the leading staffing companies in India specialising in IT and ITES industries. Connect with our expert recruiters for all your hiring needs. Login to www.flexiventures.in for more details.
