The process of formulating and extending an offer to a candidate (especially passive candidates) is often wrought with challenges and even failure. There's the mountain of paperwork, winding trails of approvals to navigate... and so many variables (salary, bonus, 401K, benefits costs, relocation, cost of living differences and much more) to weigh and balance.
All this effort after you've already invested a great deal of time and energy sifting through a long list of candidates, conducting several rounds of interviews and finally narrowing it down to the one candidate you and your hiring team consider a great prospective hire.
Now would be the worst time to fail. So, the last thing you want to hear is "Well, I've got a raise coming, or another offer coming and so, I'm just not excited over the salary you're offering. What more can you do?
Or, even worse: "I think we're too far apart! I'm sorry, but I'm just going to have to pass on this opportunity."
The best way to avoid having your offer rejected is by ensuring you make a well thought out and well delivered offer.
So, what makes an offer "great"?
Strategy! There's no such thing as a one-size-fits-all offer process. Putting together an offer your candidates will be excited about, depends strongly on the individual candidate and what the exact circumstances are today... that are driving your finalist candidates, needs, wants and motivations.
That's why Ropella has developed the SMART® Compensation Comparison Calculator.
This one-of-a-kind, trademarked tool compiles all of the complex factors associated with compensation, such as salary, bonus, vacation, 401K, pension, benefits cost to the candidate, stock options, vacation, relocations and much more. It then lays each item out side-by-side (their current - against your hypothetical offer) and calculates the mathematical differences line by line. This way you can clearly see how your intended offer compares to the candidate's current total compensation package and even any competing offers.
Additionally, at Ropella we use the relationships we develop during the hiring process with our candidates and influencers to learn in great detail what kind of offer they would; A) definitely accept, versus what offer they would B) have to think about... and what offer C) they would definitely walk away from. That way, you will know the response you'll get... before you even make the offer presentation.
At Ropella we close 95% of the offer and acceptance processes we run for our clients. Are you curious how that compares to what you've experienced internally or elsewhere? If it's not close to 95% let's talk about how Ropella can help.