The Offer Stage: the perspective of the Firm & Hiring Manager

When a hiring manager has found their perfect BD and marketing person, they embark on the offer stage. This stage should be quick and easy. So why isn’t it always that way? The offer stage is a key part of the whole process, yet it is often mismanaged by both the firm and candidate.
 
First and foremost, BD and marketing candidates have a lot of choice available to them right now. That context needs to be remembered in all of this; it is typically a product of the current market, not by demanding candidates. And when it is a buyer’s market, early transparency by both sides is the key to having the offer stage go smoothly.
 
Below are my top six tips to hiring managers in firms on how to conduct things in the offer stage to help a successful joint result. And next week, I will offer similar tips from the perspective of the candidate.
 
Firms & Hiring Managers:

• Have a conversation about the salary range at the start. This is critical in order to line everything up smoothly at the end. You will have been given a range, and you can communicate that range to your candidate. Similarly, your experience will tell you if the candidate has over-priced their own salary range expectation, or is simply too pricey because they’re too senior. Either way, this conversation needs to happen at the start so expectations are managed and aligned. Candidates also need to know if they’re in your range; this is one of the biggest mis-communications I hear about. And remember, you are very used to dealing with these sorts of conversations, as you have them all the time. Candidates are not and can get awkward dealing with this highly confidential information and may need a little hand-holding. (Note: for what questions you now can and cannot ask on salary, see my earlier blog.)

• Deliver the offer in a positive way. I’ve seen many offer conversations or offer letters which are completely devoid of any emotion. Your offer is impacting a person’s career and life and there should be a balance between professionalism and excitement. Revamp your offer letter if need be. And, when communicating it verbally, remember to show enthusiasm and positivity even if it’s something that is a little more mundane to you. Candidates feed off that vibe and can be impacted by it.

• Put a deadline on the offer. Many offers come verbally first, and then are followed up with a written offer. Put a deadline on accepting both the verbal and the written offers. It gives both parties certainty and doesn’t leave it open ended. Its reasonable for a candidate to ask for a day or two to consider everything, but if a candidate is asking for more than that, there’s typically other factors at play. Know what they are so you can address them quickly.

• Know your stance on any counteroffer. We’re in a buyer’s market, and you can expect firms to counteroffer in an attempt to retain their top talent. So, your best strategy is to put your best offer in front of the candidate. This may not be your traditional approach, but that’s the reality we’re currently in and it saves protracted negotiations in the event of a counteroffer. In my experience, candidates are rarely applying for a role simply to get more money from their existing firm. Almost all candidates are very keenly pursuing your role for a reason, so they want to accept your offer.

• Benefits and bonus questions. Once an offer is communicated, most candidates have questions about the benefits, policies and bonuses. Have the right people lined up to answer these questions, for example, your Benefits Director and the person the candidate will be reporting to. I’ve seen acceptances held up because of a lengthy game of phone tag between the right people on these issues. And, consider disclosing the benefits and bonus potential much earlier so it’s one less thing to deal with at this point. With bonuses, candidates always know that any potential bonus is subject to their personal performance, or even team or firm performance, but if they have some approximate ranges to go by, they will appreciate that information.

• Any hesitation? At the point of communicating your offer, the candidate should be anticipating it (or at least hoping for it) and they should be excited. Put frankly, if they are not, something isn’t right and you should have an honest discussion about why. Any hesitation, lack of energy or delay on a candidate’s part means they are stalling for a particular reason. Sometimes its easily resolved, other times it can get complicated. Either way, tackle it head on so you’re addressing the issues. Use your search partner here as they are used to dealing with every issue at this point of the process.

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Next week, I will offer similar tips from the perspective of the candidate.