10 Ways to Improve Offer Acceptance Ratio

While approximately 2 million job roles are opening every year, the offer to joining ratio is ever decreasing. With an increase in job opportunities for candidates, placement opportunities for all types of businesses have decreased. Most of the talented candidates usually have a two to three job offers, and the one with high compensation and flexible work culture is an obvious choice.

Hence, when a candidate refuses your job offer, what can you do? We have prepared a list of strategies that can be utilized to improve the offer to joining ratio.

Today, from finding the right candidate to giving him or her a job offer, everything is an art which requires a lot of efforts from the HR team. Sending in the right interviewer, reducing the disturbance from the recruitment process, and increasing the digital experience, everything counts. Let’s understand how you can increase the offer to joining ratio.

Move towards simplifying the recruitment process. Everything should move quickly from one stage to another while still keeping the candidate updated. With so many job opportunities, it is unlikely for the skilled candidate to wait without answers. Hence, simplify the process yet enhance the candidate journey with regular information.

Calling the candidate or arranging an in-person interview for every detail is no longer required. Most of the interview tasks can be accomplished digitally — even the primary interview itself. With the help of digital software, it is possible for the HR to roll-out the offer letters, get an electronic signature and start the onboarding process in a day.

Clarifying the job role to the candidate is an obvious task for the HR manager. However, often the job role is clear, not the impact. The HR team needs to take this a step further by allowing the potential candidates to understand the impact of their job role on the organization as well as the team.

To help potential candidates understand the work culture, invite them to meet your team. However, with this, it is necessary to keep in mind that long work hours, zero engagement activities, and strict hierarchy is not a preferred culture. Keep things flexible for healthy work culture.

Communicate a lot during the interview process. It is the only way for a smooth transition from offer to joining letter. Even if a candidate ultimately decides not to enter your organization, talk to them and try to understand where you went wrong.

Before a potential employee walks into your office for the interview, know the candidates background and cause of leaving the job. Offering them something better can give you an extra advantage.

Sometimes, businesses lose a great employee just because they can’t offer what the candidate is looking for and this requirement may not be in terms of compensation. For instance, a female who is pregnant can use a work-from-home opportunity.

When you implement these changes, track the improvement in the offer to joining ratio. Understand what aspects are making a significant impact on the offer to joining ratio and focus on these aspects.

It is apparent that the difference between a low and high offer to joining ratio is the thought process of the interview procedure. Instead of meeting traditional needs, change the culture according to the evolving market. Adapting your mindset to increase the digital experience of the candidate can improve the offer to joining ratio. You can utilize OfferItRight’s product to digitally roll out the offer letters and start the onboarding process long before the employee’s joining date. From pre-joining formalities to high candidate experience, OfferItRight can provide the right hiring experience.

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