The Unforeseen Consequences of Last Minute Offer Drops: How Candidates Fool HR and What Startups Can Do About It
As a startup looking to solve the last-minute offer drop issue, you know firsthand the frustrating and costly consequences that come with candidates accepting job offers and then backing out at the last minute. Not only does it waste the time and resources invested in the hiring process, but it can also damage the company’s reputation and disrupt workflow.
But have you ever stopped to consider the tactics candidates use to pull off these last-minute offer drops? Believe it or not, some candidates go to great lengths to deceive HR and secure a job offer, only to later turn it down when a better opportunity comes along.
One tactic is known as “ghosting.” This is when a candidate stops responding to all communication from the company after accepting the offer. Another tactic is “salary shopping,” where a candidate accepts multiple job offers and then uses them to negotiate for a higher salary from their preferred employer.
According to a survey by the Society for Human Resource Management, nearly 40% of companies reported experiencing last-minute offer drops in the past year. This trend is costly for businesses, with the average cost of a single offer drop estimated at $17,000.
But there are steps that startups can take to prevent these tactics and minimize the risk of last-minute offer drops. One solution is to conduct thorough background checks and reference checks before extending an offer using the Joboffers.live system.
Joboffers.live is a Data As A Resource platform that helps employers find offer shoppers. At job offers, we are building the largest platform for employee credibility. Human resource (HR) professionals will receive a RAG report that will include how many offer the candidate has in the pipeline. This can help identify any red flags or potential issues that may lead to a last-minute drop.
Another solution is to implement an “offer acceptance period,” during which candidates have a set amount of time to accept or decline an offer. This gives candidates the opportunity to consider their options without feeling rushed, while also protecting the company’s interests.
In conclusion, the issue of last-minute offer drops is a complex one with unforeseen consequences for both candidates and companies. By being aware of the tactics candidates use and taking steps to prevent them, startups can minimize the risk and cost of last-minute offer drops.
To know more about Joboffers you can drop us a “hello” at support@joboffers.live and we will be happy to take responsibility for your increased offer-to-hire ratio.
