You found the perfect candidate for the position and you’re ready to extend a job offer. This is an exciting moment for not only the candidate, but also your company. You spent a lot of time and resources to find this person, so you want to make sure you do this right. In my experience, I find there are six steps in the job offer stage:
- Before the Job Offer – Do your homework during the interview process. Make sure you receive all the personal information you’ll need in order to extend a job offer. For example; desired/required compensation, benefits, reference checks and start dates.
- Pre-Close – Before extending a formal offer, you should talk with your candidate over the phone and explain what the offer may look like. Be sure to mention this isn’t a formal offer. You’ll want to get a verbal acceptance that covers salary range, benefits package and start date.
- Verbal Offer – In this step, you will discuss the specific salary being offered (not a range), the benefits and perks, as well as the exact start date. If all seems to go well, explain that you will put it in writing and will send it to the candidate right away. Remember, time kills deals. If they interviewed with you, it’s quite likely they interviewed with another company. Don’t put this off for a few days or you may have to start over from scratch with a new candidate because your “perfect” candidate accepted a different position.
- Written Offer – Whether it’s an email or letter, put everything in writing! Include all elements of the job offer: title, salary, bonuses, benefits, vacation/holidays, perks and etc.
- Negotiations – Be sure to take into account: industry standard pay for the position, how closely the candidate matches your needs, cost of living and quality of the other candidates you interviewed. It’s also possible that your candidate will receive a counter offer from their current employer. Don’t be caught off-guard. Have an idea of what you could potentially offer if countered.
- Acceptance/Rejection – Plain and simple, do you move on to another candidate or do you begin ordering business cards and work on the onboarding plan?
In my next blog, I’ll break down and offer tips on the steps in the job offer stage.