Top 5 Reasons to Update your Job Offer

#5: Branded Offers Impact Hiring

Is your job offer branded? If not, you are in danger of being left behind.

Are you still offering one-page job offers generated in Word? If so, you’re rapidly falling behind the competition. Catch up by using tools that brand the job offer and create an experience for the candidate.

Of course, you use branding when it comes to newsletters, websites, and advertisements, but job offer branding is proven to seal the deal. 72% of recruiting leaders now agree that brand has an impact on hiring. Are you doing enough to incorporate brand into job offers? Ask yourself:

  1. Does your job offer letter feature your brand identity front and center? If not, you are behind the trend in 2019. Most organizations are migrating brand into the offer letter experience, itself.
  2. Do you use color, graphics, and media in your offers? Most talent is now passive. Take every opportunity to remind candidates why they chose your organization in the first place.
  3. Do your organization’s images, logos, and dynamic content emotionally compel your talent? Your brand is everything in the recruitment process. Make it impossible to choose your competition because they love you!

LinkedIn has found ample evidence to suggest that a great employer brand makes it easier to recruit and retain talent. It also impacts the bottom line in more than one way. For most companies, merging brand with recruitment can equate to millions of dollars in savings and reduced time-to-hire!

Passive candidates account for 80% of all new hires, and the number is only growing. Passive candidates are drawn in by your reputation and public persona. Yes, that means your social media, unique content, and dynamic media.

To reduce hiring costs and bring more passive talent to the table, lean on those marketing dollars you spend every year on your branded image. If you are not utilizing a branded job offer don’t worry. There are powerful products that can help you get started.

#4: Qualified Candidates are Already Taken

Talent is getting harder and harder to find. Is your recruitment strategy keeping up?

We all know the market is tight, but do you know how this affects your hiring practice? Most Qualified Candidates are already taken and the competition for passive candidates is fierce.

That means there are fewer and fewer candidates actively searching the market for a new role. As a result, communicating a Total Value Proposition is becoming more important every day.

How do you standout in a tight labor market? RPOA has 3 keys:

  1. Keep the organization’s value at the top of candidate’s minds. Show the Total Value of the Offer front and center. Demonstrate how much you spend on employee well-being and do it often.
  2. Build strong branding and recruitment marketing campaigns. Your brand needs to permeate everything you do, including the recruitment process.
  3. Provide a superior candidate experience. This will make it hard, even impossible, for candidates to consider another company’s offer because they are emotionally-invested in your brand.

This is a tall order for many organizations, luckily technology is available that help communicate the Total Value of Job Offers while incorporating your publicly branded image into all communications.

#3: Cultural Transparency = More Hires

Include culture in your job offer to increase talented hires

2018 graduates continued the trend of rejecting job offers – a trend established over the previous three years. Worse, Millennials – who now make up 50% of the workforce – are the most notorious for rejecting job offers, ghosting job interviews, and refusing to settle for any employer that doesn’t match their mission and ideals.

Melissa Gee Kee, Strategy Director to the CHRO, Unilever, recently noted that the way that candidates receive job offers must catch up to the times in which we live. To compete in the future, organizations must first recognize that their process is not fit for the connected world and adapt hiring processes accordingly.

So how do you do that? There are again three key ways to update your job offers in 2019:

  1. Feature well being and benefits in your job offer. Millennials now make up more than half of the workforce and spend almost twice as much on “self-care” as baby boomers do. They are drawn to clear communications of both culture and benefits.
  2. Highlight your Corporate Responsibility. 67% of employees prefer to work for socially responsible companies. To attract this talent, highlight your commitment to your community within the job offer.
  3. Feature your Charitable Giving. Candidates are attracted by your generosity. Not only are they more likely to accept your job offer, they are 38% more likely to stay if you show your support for the local community. Feature your charitable giving within your job offer to get more candidates to say yes.

#2: Recruiting is getting EVEN MORE Expensive

Paying more for employee benefits but landing fewer hires? The problem is your job offer.

Did you know that SHRM recently discovered that 15% of all HR-related expenses are due to Recruitment Costs?

The average cost-to-hire varies wildly, but averages out to around $4,425 per candidate! That’s an expensive hire! With more and more candidates rejecting job offers, the average cost will only increase as we move into 2020 and beyond.

For nearly a year now, the number of open jobs each month has been higher than the number of people looking for work — the first time that’s happened since the Department of Labor began tracking job turnover two decades ago. Last year more than 1 in 4 employees decided to voluntarily leave his or her job. That’s up from 1 in 5 in 2013!

So how do you bring down costs and get more candidates through the door?

  1. You Spend Thousands on Benefits, Communicate Them. If you are like most organizations, you spend thousands on employee benefits every year. Yet, employees often don’t appreciate or understand your contributions. To get your money’s worth, you must find a way to communicate benefits more effectively.
  2. Shorten Time-to-hire. Bring this number down by using strategies proven to engage candidates and get them through the finish line. That includes communicating the total value of benefits, highlighting your culture of giving, and presenting a branded offer.
  3. Make the Candidate Feel at Home. Technology can help get candidates up to the finish line, but it’s their emotions that push them over the edge. You job offer must be more than words on a page. Your offer should stoke and encourage the very emotions that drove the candidate to seek you out in the first place.

#1: Your Job Offer must Include TOTAL Compensation

Does your job offer assign cash value to benefits? You’re spending the money, so it should.

For decades, designing rewards programs was a relatively straightforward exercise of finding the right mix of compensation and traditional benefits such as health insurance and vacation time. Those days are over.

Leading organizations now understand that spending more and more money on benefits without communicating the value of those benefits is a dead-end hiring strategy.

Further, talent today wants a custom rewards experience that reflects how they live, work, and communicate—not a one-size-fits-all approach rooted in the past. Done correctly, this new approach to rewards can become a huge competitive advantage.

So how do you lead with benefits in the new era of talent recruitment?

  1. Lead with your Brand. Marketing and Human Resources are no longer separate, siloed entities. The time to embrace the branded job offer has long-since arrived. Employers whose utilize branding in their recruiting message are more successful than the competition.
  2. Explore new Approaches to Job Offers. Seek digital solutions that communicate the Total Value of Benefits and migrate these into your job offers. The world has become digital and interlinked. Your job offer must follow suit or your organization will be left behind.
  3. Communicate the Total Value of Benefits. It’s not enough to spend money on benefits – in order to attract and retain top talent, you must find a way to communicate those benefits to each and every candidate. You offer letter should be benefits-centric, and you should assign a cash value to every benefit.

There is one service that recognizes these developments and offers a unique, and modern approach to the job offer problem: TCOffers. Powered by CBIZ, one of the largest providers of multi-specialty professional services to businesses nationwide. TCOffers will:

  1. Increase Talented Hires by
  2. Decreasing Hiring Costs and
  3. Reducing Time-to-Hire

Become a Hiring Hero by joining the TCOffers Revolution!