Within the ebbs and flows of the job market one thing stays consistent: the potential candidate experience matters. Your company’s ability to hire top talent starts with creating a positive experience with clarity, transparency, communication, and speed. Read on to discover how to leverage those characteristics into your hiring process
Understanding Job Offer Acceptance Rates
The overall job market plays a role in offer acceptance rates. A stronger job market influences the rate, since candidates have more offers to consider. But companies have control over some of what affects this metric, which can be calculated by:
Offer-to-acceptance rate = (# of offers accepted/# of offers extended) x 100
So if an organization extended offers to 30 candidates and received 18 acceptances, their acceptance rate (18 / 30 x 100) would be 60 per cent.
You can compare your rates with some recent trends identified in a Talent Trends Report from Ashby:
By industry, OAR rates in 2024:
- Business Services: 82%
- Health Technology: 80%
- Saas and Cloud: 79%
- Financial Technology: 77%
- Online Marketplaces: 76%
- Consumer Apps: 73%
- Media & Entertainment: 72%
The small differences indicate that “the role itself, application process, and other factors likely have more weight than the industry the open role is in.” That’s good news for the four characteristics your company can tweak for a good candidate experience.
Clarity
Someone’s first introduction to a job opening at your company is often through the job description. Unfortunately, they can tend to run long and be chock-full of unnecessary information that doesn’t actually explain the vital parts of the job. As the writer of the text, try to put yourself in the shoes of job seekers. They are likely reading dozens, if not hundreds, of job descriptions, and will quickly tire of all-too-common clichés: rockstar, go-getter, team player, self-starter, fast-paced, hard worker, change-maker, results-driven.
If these phrases ever had real meaning, their pervasiveness has stripped them of value. Taking time to write concise, accurate job descriptions with specifics will help you stand out in a sea of words and will show candidates you’re serious about finding the right fit.
Consider a few tips from the experts at The Forbes Research Council:
- Write short, compelling copy
- Keep it simple and original
- Clarify necessary skills from desired skills
- Get insight from current employees
- Provide clear expectations
- Make the description employee-focused
Transparency
Transparency goes hand-in-hand with clarity. A candidate’s first introduction to the job should be easy to understand and feel honest and straightforward. That includes pay transparency. Job postings should have a listed salary or range, and the range should not be so vast that it’s impossible for the candidate to determine what they would be paid. Listing benefits is another way to communicate a commitment to transparency and fairness. It emphasizes that you invite discussions of fair compensation.
Another move towards transparency is for “Hiring managers and interviewers [to] share a copy of their interview questions, or share a list of clear topics and experiences they want to ask about,” says Sisi Wei of The Markup. “The point is to give all candidates an equal chance at doing well—regardless of whether they’re introverts or extroverts, or if they have the right experience or connections to guess what interviewers might ask.”
Communication
The first contact after receiving an application or résumé can set the tone for all further communication. Candidates want to know someone on the other end received their information and that it didn’t just get sent into an inbox void with no indication of a reply. Even an automated response can go a long way in establishing a line of contact and trust. Bonus points if the response indicates a possible timeline for further communications.
Even if that candidate isn’t the right fit for the open job, a courteous rejection can ensure a positive reputation. Referrals are a vital part of the recruiting toolkit, and you never know the connections of the person on the other end of the computer. It also keeps the relationship cordial for future job openings.
Good communication requires organization, and the best way to keep track of who has received responses and who is still waiting is by using an applicant tracking system. Applicant Stack provides the candidate an option how they would like to receive communications, ensuring they can be available for your timely responses. By sending responses within the ATS, each member of the hiring committee can quickly scan for finished and pending communication tasks. It eliminates responses getting lost when workers are out of the office or miss an email.
Speed
Candidates who’ve been in the workforce for awhile have seen dramatic changes in the way the hiring process plays out, and may be used to waiting longer for responses to applications and arranging interviews. Gen Z, on the other hand, says Kate Beckman “expect a quick feedback loop from companies, and prefer to be rejected than ‘ghosted’ during the hiring process. Not only does a swift response demonstrate respect for candidates and foster a positive candidate experience, but it also holds the potential to make a significant impact on the company’s ability to stand out and secure the best talent out there.”
Even if the ultimate response is a rejection, candidates prefer to be kept in the loop during all stages of the process, without long gaps between actions. Though each candidate is different, many Gen Z job searchers prefer to communicate via text message. Meeting each candidate at their preferences enhances their experience.
By focusing on four related goals: clarity, transparency, communication, and speed, you can offer a positive candidate hiring experience and find top talent for your company’s open roles. With ApplicantStack, the hiring process can become more streamlined. You can stay connected with candidates throughout the process via email and text-based communication. Automated workflows ensure that everyone stays in the loop and top applicants can receive and accept offers. Try it for free today!
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