4 tips to increase your offer acceptance rate

As more individuals shift roles and companies through the Great Resignation, companies are needing to focus on increasing their offer acceptance rates more than ever before. While it might seem straightforward that your chosen interview candidate accepts your offer, that’s not always the case.

 

What is an Offer Acceptance Rate (OAR)?

Offer Acceptance Rate (OAR) is the level of offers that are accepted by your chosen interview candidates. 

An offer acceptance rate above 90 percent indicates that there’s a good match between a company’s requirements and candidates’ expectations.

 

Why should I track the Offer Acceptance Rate at my company?

Monitoring this talent metric will help you examine the company’s capacity to draw in the best candidates for the roles you’re needing to fill. It’ll also indicate the company’s capacity to draw out the interview candidate’s priorities, needs, and major issues before you extend an offer as you work to hit the “sweet spot” for the applicant and the needs of the business.

 

How do I improve my offer acceptance rate?

The great news is there are a few ways you can improve your offer acceptance rate:

 

Be clear and consistent about the job. 

For example, if you mention the job is at the company’s headquarters in the job ad, the final offer shouldn’t be for a position at a company branch. Or if you mention that the job is remote, the final offer shouldn’t be for a hybrid position or an in-person position.

Make sure that everyone involved in the hiring process understands the job clearly, so that you’re communicating about it consistently from the job posting to the application, the interview and all the way through onboarding.

 

Make the application process easy

The normal candidate goes through 3-4 hours submitting a single application, and most drop off due to how complicated the process is – leading to a loss of top-quality candidates. 

Don’t make the application process feel like jumping through hoops. Instead, walk a mile in your candidate’s shoes by testing the application process and seeing what needs to change to make it feel easy.

If when testing the application process before you promote the job posting, you discover that it takes a long time to complete the application – fix that process! 

Make the application easier to understand and the questions clearer. Make sure the page loads quickly and it’s accessible to people with disabilities. Any of those little quirks that come up in testing – address them to make the process less cumbersome for your candidates.

 

Provide authentic candidate experiences

Create experiences for candidates that feel genuine, humane, and authentic to build personal associations with the applicants that are valuable without feeling awkward or meddlesome.

Positive candidate experience is the first step towards persuading the best candidates to accept your job offer. It shows you are a respectful employer that values employees.

 

Here are 3 questions you can ask to get to know a candidate better:

👉 When conflict arises at work how do you handle it?

By asking questions related to conflict you will get a better understanding of the interviewee’s interpersonal skills and personality. The interviewee’s response may also give you a sense of their ability to resolve and deal with conflict at work.

 

👉 How would your current boss describe you?

This question will hopefully give you a better idea of how the interviewee interacts with their current and past managers.

 

👉 Where do you see yourself in the next 5 years?

An ambitious professional with a clear set of goals for the short, medium, and long term, is an invaluable asset to the company. This is true especially if they parallel their career growth with the company they are interviewing at. 

As they grow professionally and financially, the company grows and expands too. During the interview, confident job seekers will discuss that they seek a company with upward mobility as they help the company prosper.

 

Create a pleasant onboarding experience

A pleasant onboarding experience leads to more candidates staying longer. This critical transition period will help keep talented people excited, happy, and engaged for a long time when done right.

Onboarding new employees is just as important as the interview, and often just as tough.

The onboarding process sets the stage for the rest of the employee’s time with the company, so it’s very important to get it right to set the entire team up for success.

Onboarding employees begins when you make an offer of employment to them. Clear and swift communication sets expectations and the tone for your interactions. It also begins building the basis of the rules of etiquette in your workplace.

You’ll likely introduce the new hire to many key players in the company, as well as their supervisors, managers, and team members. Don’t forget about other informal stakeholders, especially if there’s a hierarchy in the business. 

Who are the decision-makers? Whose approval do you need to get things done?

Don’t forget there might be other non-managerial employees that the new hire will work with on a regular basis. Introducing everyone right off the bat can keep everyone in the loop and help new employees settle in sooner.

Action step: review your onboarding process to make sure you’re setting the team up for success from the start!

 

How to tell what went wrong for candidates in the hiring process? 

You may not know where things went wrong in the hiring process to know what to fix to improve your offer acceptance rate, and that’s okay. Start by asking candidates why they rejected your job offers through a candidate experience survey. The feedback you collect will help you reshape the job offers you’re extending and in time, improve your offer acceptance rate.

 

Don’t forget to measure why job offers are being accepted!

Understanding why job offers are being accepted matters too! When you understand why candidates accept the job offer it can shed valuable insight into what went right in your hiring process. It can also help you understand what areas your candidates find most important when they consider accepting a job offer at your company.

To measure the “Reasons Offers are Being Accepted” metric, be sure to ask new hires why they accepted the job through your candidate experience survey. Use an open-ended question to gain more personalized insight and valuable data that can help you understand their reasons better than limiting their choices to what you think could be the reasons in a multiple choice situation. 

When you have gathered enough data from candidate surveys you’ll be able to group answers under a few useful categories (e.g. competitive salary, challenging job.) to help drive deeper meaning from the data.

What steps will you take to improve your offer acceptance rate this year?

 

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