When you finally locate the right person to fill an executive role at your company after months of searching, you probably want to grab ahold of him or her and never let go. However, even after you make the hiring decision, you still run the risk that the person you've chosen will reject your offer. Therefore, in order to avoid having to start your search all over again, it can help to know some of the top reasons executives might turn down an offer and how you can keep from losing your best candidates.
One of the most common reasons candidates turn down offers is an overly drawn-out hiring process. If it takes your company months to complete the screening process for a position, the most highly qualified candidates are more likely to decide to take another job in the meantime. This can especially happen during the current strong demand for qualified candidates. Always remember that the best applicants for a given executive job are in high demand, giving them more chances to go with a different company instead of yours if you drag your feet.
Another common reason for turning down an executive position is that the offer was made in a lackluster way or that the candidate feels he or she is being lowballed on salary. You need to convince your top choices that they are a perfect fit for the role and that they will be compensated accordingly. If you must play salary bargaining games, save them for less crucial positions in the company.
Finally, if you're recruiting far-flung or international candidates, failing to offer a relocation package can make it impossible for these professionals to accept your offer.
Finding people is easy, but finding the RIGHT people is not. YES Partners helps companies FIND the right people – for all company functions, across many industries and globally.
