Are you a TA Head, HR Manager, or someone who has been responsible for hiring? Then you would definitely relate to this post. New hires are a key ingredient in every organisation’s growth plan and that includes attracting new talent, sourcing, interviewing, making offers and onboarding. However, Candidate drop-out has always been a burning issue that adversely impacts the entire hiring plan. Onboarding offered candidates has become a key piece of the hiring cycle.
You conduct numerous interviews, release the offer, invest a whole load of time in identifying and sourcing the candidates and boom all of a sudden the candidate drops out. Annoying and frustrating isn’t it? Have organisations ever tried to address this issue in any way? Some may say yes, but fail; others say nothing can be done!
Before we try to solve the problem of post offer drop-outs, let me list down what causes this scenario:
Reasons for candidate drop-outs post hiring:
- Candidate has Multiple offers
- Lack of Candidate engagement post offer release
- Relocation discomfort
- Compensation and Benefits not up to expectations
- Candidate’s lack of clarity about the job role / Unhappy with the designation
- Long Notice Period > 1 month
- Preference to work with Big Names or Branded Organizations
- Retention by present organization
- Lack of any compelling information about the organization they are to join
- Confused or Non-Committal mind set of candidates
Amongst all the reasons mentioned above there are a few that can be addressed without too much effort which will reduce the hiring cycle time and enable the acquisition of quality candidates who are valuable to the organisation.
How can this be done? Extensive candidate engagement, providing complete clarity on job role, salary motivation and having candidates who can join at short time frames i.e. < months’ time can partly solve your problem. Candidates with long notice periods can make you wait endlessly and are high risk since they can turn down your offer last minute and hurt your hiring cycle immensely.
It is extremely important to understand each and every candidate who has been offered and every one of them should be handled with a kid glove. However, there is no “1 size fits all” here. The engagement with each candidate can be unique and can be understood only on analysing his profile and creating multiple touch points at different intervals.
Here is a 10 – step guide to effectively reduce post offer candidate drop-outs:
- Invest in Employee Value Propositioning (EVP) or Employee branding
- Effective Candidate Engagement Model
- Profile the candidate based on experience, role type, criticality and notice period
- Create multiple touch points including digital and in-person connects
- Draw up engagement templates that can be customised to each candidate
- Help the candidate understand the new organization
- Connect candidate with various stakeholders within, to provide Job role clarity and help understand organisation culture
- Push company related information periodically
- Collate post- engagement feedback at each touch point
- Record a metrics with joining probability score
Typically, organisations depend on recruiters to undertake candidate engagement and are held responsible in case the candidate drops out. But on the contrary, Candidate engagement requires a well-defined process, templated engagement plans and detailed analytics.
HireLoop is a unique platform that provides an extensive Candidate Engagement Solution. This platform allows organisations to manage candidate engagement and quickly experience significant reduction in the percentage of drop-outs. An appropriate analysis is undertaken and there are various modules and templates for candidate engagement. Also, there is a social connect that enables tracking of candidates behaviour post receiving the offer. And increases the success rate of candidates getting onboard.
How HireLoop helps?
- Bridge the gap with effective Talent Engagement Solutions
- Provide dedicated Talent Engagement Associates for every candidate
- Map candidates behaviour effectively
- Candidate drop out risk assessment reports
- Recruiter, Hiring Manager and Management Dashboards
- Reduce Talent Acquisition Costs
- Candidate Joining Probability
- Effective Recruitment Cycle, Reduced time, and cost of hiring
- Top class candidate joining experience
- Hiring Analytics for the organisation’s hiring plan
Expected Outcome using HireLoop:
> 50% Reduction in last minute dropouts
> 70% Prediction of dropout risks
> 75% Digital Interaction Rate
Connect on Hireloop.in and make this important change to your Talent Acquisition.
Happy Hiring!
Author:
Vinod John
Managing Director, BluElement Technologies