The Truth is Out!!
We spoke to more than 100 recruiters, from small, medium, and large organizations and asked them one question- Why are candidates dropping Out, why are they not joining the company? More than 90% of the time we heard, “Candidates leave one offer for the other because of better package”, even if they find a marginal difference in salary, they will move to the next company. Imagine one amongst the big fours highlighted that the candidates use their Offer Letter as a Trophy to negotiate with their current employers or prospective ones.
Not denying that there is no truth to this…it sure is!! But is it always that candidates leave for money.
Every single drop-in joining increases the cost of hire and time to fill. So we did deep dive on - Why candidates are dropping out even after getting great offers? Our research found a staggering
Let's look at the real reason beyond salary, which impacts overall candidate experience and influences their decision-making.
1. Information hunting: Our lives are governed by the jobs that we take up, the kind of bosses that we will work with. Every time a candidate decides on the role, they are researching to see if the job will suit aspects of their life. They are researching all reliable-nonreliable resources like quora, glassdoor, LinkedIn, etc where your current and erstwhile employees leave their reviews and the candidates blindly follow them. Now, it's not that you are providing any counter-information… so for candidates, this is the best advice.
2. Experience during the hiring journey – Every experience matters during the entire hiring journey. Every time the interview is rescheduled to the time that the interviewer comes unprepared for the interview, the candidate is making assumptions about your work culture. “How much does the organization value an individual?” or “What is the importance of this role to the organization?” Over a period of time, with no open communication, the candidate has made up their mind. Do you have a way to check the pulse of the candidate experience?
3. Transactional Service – Words like Manpower, Headcount, Human Resources somewhere demean the value of emotions & intelligence that a person brings on board. Just like those words recruitment process too has become transactional…a couple of weekly calls to check on “Howz the weather” or one email to ask for document submission. Does this suffice for understanding and interpreting an individual's identity?
4. Interpret human need – A person with 7-8yrs of experience may look for growth opportunities in the company, while the one with 2-3yrs of experience may look for learning, similarly a working parent may want to see a company’s offering that may allow them a better work-life balance. How do you interpret their individual need and focus on those to influence them to join?
5. Human interaction being the sole influencing factor – We found that a lot of recruiters stated, regularly talking to the candidate, is the sole way of getting them to join. But in this entire conversation, how do we build the context to where the candidate has ambiguity, where do they need clarity. And of course, think about the fact that if these conversations were so effective by the end of the 5-6th call the recruiter would have built a relationship with the candidate, so why would anyone in their senses, start ghosting these recruiters? “THIS IS A BIG QUESTION FOR ALL TO ANSWER” AND IS THIS APPROACH REALLY SCALABLE?
6. Recruiters under pressure – There is a lot on a recruiter's plate, from sourcing a candidate, scheduling each interview, seeking feedback from each interviewer, discussing the commercials, sending the offer, completing the paperwork, and then keep calling the candidate to check on their interest. Sometimes I feel it requires a superhuman to complete all these tasks. Ultimately, when the candidate does not join, it is their task that gets repeated. Has anyone thought of the mental wellbeing of these poor souls?
So what’s the solution to all this!! Well…here’s the exciting news!!
We have built a solution to counteract all the above concerns!
Personifwy’s GraVT is an AI-enabled assistant that empowers the Talent Acquisition team to deliver Real-Time Personalised Experience to Candidates and Reduces Drop Outs while saving precious effort hours.
All In All a win-win for any recruiter.
Don’t fret!! We are here to give you more on GraVT.
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