Your offer letter is the last piece of the recruitment puzzle before a candidate formally decides whether or not they want to work for your organization. So; can you leverage the offer letter to increase your chances of winning your top-choice candidate for your team?
Precede your offer letter with a phone call. Once you’ve decided to extend an offer, call your candidate to let them know your intent. Verbally discuss the details and let them know you will be following up with the formal offer letter and determine when you might expect to hear back with a decision. While obviously, you hope someone would accept as soon as they receive the formal offer, understanding their decision timeline gives insight into how they make important decisions. If you don’t immediately build that official offer, you might lose your candidate. So, move quickly to give them a better experience!
Express your excitement. Landing a new job is exciting for your candidates—and finding a dream candidate should be exciting for you, too! Let your candidate know how thrilled you are to present them with an offer of employment. Perhaps re-summarize the specific reasons you chose them, and how you feel they’d be able to contribute to your organization. You’re more likely to win your top-choice candidate when they feel like they’d be a valued member of your team.
Circle back on candidate motivations. Interviewing is a two-way street, and you need to impress your candidates as much as you expect them to impress you. Learning your candidate motivations early in the recruitment process can help you sell this position to candidates. Circle back on those motivations in the offer letter, explaining how your organization is a great fit for what the candidate is looking for in their next role and their contribution to the company.
Include competitive compensation. While money isn’t always the top motivating factor in finding a new job, it can play an important role in a candidate’s decision to accept your offer. The biggest reason candidates decline a job offer is that compensation and benefits were not in line with their expectations. The second biggest reason is that they received another offer, and 50% of those candidates chose the offer with higher compensation. Discuss compensation expectations early in the recruitment process to make sure you’re on the same page as your candidates and include a competitive salary in their offer letter.
Build in benefits and perks. Round out your compensation package by sharing your employee benefits and perks. Be sure they understand the economic value of reduced personal expenses (when appropriate) as well as increased salaries. Many candidates are likely to take a job with a lower salary than a competitor’s offer, but with better employee benefits. Also share any additional benefits you offer, such as professional development, education reimbursement, parental benefits, and other fun employee perks.
Reiterate your excitement. End your letter by reiterating your excitement to present an offer of employment. Let the candidate know that you hope to hear of their decision soon and that you’ll follow up in a few days if they don’t reach out sooner. Once the candidate accepts your offer, continue leveraging their excitement with a welcome letter and new hire orientation.
Now that you’ve won your top-choice candidate, you need to focus on retaining them. Our Top 10 Tips to Improve Employee Retention blog is a great place to start.