How To Have a Higher Offer Conversion Rate

Instead of traditional modes of hiring, new automated solutions in recruitment have paved the way for companies to hire the best talent. These AI-induced recruitment operations are strategic for the survival of businesses as companies adopt a structured hiring process that not only engages with the job seekers but also helps them to identify a competent and skilled workforce.

With ever-increasing competition, it has become imperative for talent acquisition teams to possess the right approach and facilitate the recruitment process in a way that boosts their offer conversion rate. 

By effectively communicating with top potential hires about the organization’s vision- what it believes in and what it stands for, HR teams can beat the competition and ways to facilitate the joining offer conversion rate.

 Following are the four unconventional ways to boost offer conversion rate:

 Invest in AI Automated tools that provide data analytics

Organizations need to invest in AI automated tools that are robust, effective and quick as these are important for higher conversion rate. While AI helps to identify and shortlist the right candidates from the huge data of resumes and CVs, screens proctored tests and assessments, it evaluates the quality of hires and the automation-generated data analytics selects the best fit for the position.

Ensuring a positive employee experience from the start till the final stage with extremely intuitive and engaging AI application tracking systems (ATS), remote proctoring solutions and virtual interactions could help in confirming the job offer.

Widen the sourcing strategies

Attracting and selecting the right talent has become significantly challenging for the recruitment teams across the world.  Usually, HR personnel limit themselves to the top candidates by looking at their previous job experiences, skills or qualifications.

Widening the job seekers’ pool beyond stereotypes and biases which other recruiters may have overlooked fetches the best hires with a combination of both technical and personal skills. Most candidates have more than one job offer in hand, it is always advisable to shift the criteria of selecting from the top of the pedigree to the wide range of objective skills.

Involvement of the recruiting team- (key people present at the time of the interview)

One of the big motivators for the hires is the organization’s vision and mission. To increase the conversion rate, it is important to empower candidates with this information. A lack of clarity might deter them from taking the offer. During the hiring process, HRs must clearly articulate the purpose and ensure that it resonates with what the company stands for or believes in.

Personal touch in the form of a short meeting with the manager or the team leader during a virtual tour or orientation may change the candidate’s decision from a ‘maybe to yes’.  

Responding to the concerns of potential ‘hires’ and promptly communicating with them makes them feel valued, thereby increasing the probability of taking the offer. They may not just look at the monetary compensation, perks and facilities if the tone of these interactions allows them an opportunity to bond.

Clear intentions

Extending an offer letter does not necessarily mean the position is finally closed.  Most job seekers may weigh their options and continue their job search elsewhere. It is important to have clear intentions while conducting interactive sessions during the post-offer period.

Whether the candidate joins the organization or not, inadequate or miscommunicated initiatives may impact the brand equity. Clarity on the part of talent acquisition teams would make any successful candidate feel supported and secured that will strengthen one’s decision to accept the offer.

Organizations where empathy, openness and learning are practised prove to be big drivers of talent. HR personnel must prioritize in conveying the organization’s culture and its purpose in order to get the best-suited person for the job.

Increasing the offer conversion ratios is more about the personal touch assisted by the AI automated tools.  A well-managed and supportive talent acquisition personnel also indicates the candidates’ future learning opportunities and thus retention.

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