BY : Freddy Rawji
Closing the Candidate You Want, While Not Breaking the Bank
We’ve all been there: you like the candidate, the candidate likes you, you give them an offer, and suddenly… they’re gone! With an unemployment rate of 5.6% in BC, we’re in a market where most candidates are fielding multiple opportunities. This is leaving many employers losing out on desired candidates at the 11th hour, often putting the team back to step 1 in the search. While salary is an important factor in an offer, there are often overlooked aspects that weigh into a candidate’s decision making process. For example, our team’s consensus from candidates is they want to feel valued and that their contributions matter.
So whether you’re a small firm on a lean budget, or a larger firm dealing with pay scale, try using the 4 best practices below to increase the chances of closing your desired candidate.
1. Tell the person why you are specifically excited to hire them in the offer letter. We often see offer letters as generic. People want to feel valued and want to know how their specific contributions will help the company.
2. Move fast and be responsive. Even if you need some time to think about a prospective employee’s counteroffer, be transparent about how much time you need and what your initial thoughts are. Negotiations are a great time for open communication.
3. Offer benefits from day 1. This decision is marginal in cost but shows the candidate that you’re looking out for their overall wellbeing.
4. Offer Mental Health or Personal Wellness days. Instead of only offering Paid Sick Time off, re-brand those days to allow individuals to do whatever they need to keep themselves at their best. You can even call them maintenance days.
5. Bonus Idea: In addition to an RRSP match, set up a donation matching program, where you can match (either fixed dollar amount or percentage of salary) to a pre-determined list or any charity of the employee’s choosing. The win-win situation here is that it’s a tax write off for your firm and shows the candidate that you share the same values as them.
Is there anything I missed? Let us know your thoughts and suggestions in the comments!
BY : Freddy Rawji
Closing the Candidate You Want, While Not Breaking the Bank
We’ve all been there: you like the candidate, the candidate likes you, you give them an offer, and suddenly… they’re gone! With an unemployment rate of 5.6% in BC, we’re in a market where most candidates are fielding multiple opportunities. This is leaving many employers losing out on desired candidates at the 11th hour, often putting the team back to step 1 in the search. While salary is an important factor in an offer, there are often overlooked aspects that weigh into a candidate’s decision making process. For example, our team’s consensus from candidates is they want to feel valued and that their contributions matter.
So whether you’re a small firm on a lean budget, or a larger firm dealing with pay scale, try using the 4 best practices below to increase the chances of closing your desired candidate.
1. Tell the person why you are specifically excited to hire them in the offer letter. We often see offer letters as generic. People want to feel valued and want to know how their specific contributions will help the company.
2. Move fast and be responsive. Even if you need some time to think about a prospective employee’s counteroffer, be transparent about how much time you need and what your initial thoughts are. Negotiations are a great time for open communication.
3. Offer benefits from day 1. This decision is marginal in cost but shows the candidate that you’re looking out for their overall wellbeing.
4. Offer Mental Health or Personal Wellness days. Instead of only offering Paid Sick Time off, re-brand those days to allow individuals to do whatever they need to keep themselves at their best. You can even call them maintenance days.
5. Bonus Idea: In addition to an RRSP match, set up a donation matching program, where you can match (either fixed dollar amount or percentage of salary) to a pre-determined list or any charity of the employee’s choosing. The win-win situation here is that it’s a tax write off for your firm and shows the candidate that you share the same values as them.
Is there anything I missed? Let us know your thoughts and suggestions in the comments!