There is a higher demand for change among developers and data scientists, impacting the hiring and retention numbers of companies. Additionally, tech companies are ramping up their hiring efforts, but there is a churn in candidates even after offers have been made. Candidates dropping out after being offered a job is frustrating and is widely viewed as a costly mistake in recruitment. Many companies try to increase joining rates but are unsuccessful at it. As they seek to improve their offer to joining ratios, they pay attention to their salaries, responsiveness, and social media presence, but it seems that they often miss something. Hiring managers need to outline proactive measures to finally onboard the best candidates.
In our recent episode of Hiring Diaries with Praveen Nair, Head of Talent Meesho (previously Talent Leader at Flipkart, Bounce, and Ola), we saw a question from an attendee on these lines, and we considered taking it up.
Mudit Srivastava, Host:
One of our attendees has put up a question, and it is a pretty short question, but it looks rather pressing. He asks, what is your suggestion for companies with less than a 30% joining ratio? Are recruiters responsible for offer declines in the majority of cases?
Praveen Nair, Guest Speaker, Meesho:
This is a fascinating debate. And this is an exciting point of view that, you know, we all have as recruiters, and especially during our team reviews and team meetings. This is one banter that we keep regularly having.
Below 30% offer to joining ratio is a huge matter of concern. And it is there, virtually, for many people to see, in fact, in some parts of our org, we also suffer from some of these problems. So, I think if you can hold just the recruiter responsible for it? I guess that is partially solving the problem or not understanding the problem in itself. So why does decline happen? Decline happens because the offer is not measured up to a person’s expectation. Now, that offer is not just what the role was, what the compensation was, or what the project was, and the company is.
It’s a much beyond conversation regarding that, right. Does that person associate enough value for what that person wants to sign up for the next few years with that company, and therefore, the person decides to walk through that door?
It’s not just the only recruiters’ responsibility. It’s a collaborative approach that we need to take. And that’s where, in Meesho’s scheme of things, we are pallbearers of that. We, along with the business, work very closely to figure out various levers to make that happen.
Let me give you some examples.
Once an offer is made, then, along with the recruiter, we do multiple engagements with these candidates. The arrangements with hiring managers, the attention with team members, the meetings with what’s happening in some instances, you know, involving them in some discussions, which are, I mean, where you don’t probably leak out your numbers, but you have the qualitative conversation around how the team is getting constituted, what’s the next three months over look like? Or six months. And how can they be part of that growth journey, so you know, involving a person, much before that person comes into the game? Enabling offered candidates to view the arena also plays a large part in converting them.
So there are these small levers that you will be able to enable, and there are quite a few of the AI-enabled. I don’t remember if Skillspace.ai is doing that. But it’d be a good idea in case it isn’t.
You know, once the offer is made, the onboarding, engagement through gamified versions or engagement versions, we can keep that ongoing.
Also, the caveat here is that many people will also do this. So what is yet your differentiator becomes crucial. It has to be a collaborative effort from the business, all the stakeholders involved, not just the recruiting. This being said, at the end of the day, the offer-to-joining ratio is the recruiter’s number itself. Because the recruiter metrics are getting closed, once a person walks into that door, walks through that door into your company.
How does Skillspace.ai’s platform help in improving the offer-to-joining ratio
Skillspace.ai offers one of the friendliest interfaces for engaging new hires at an organization via gamified contests. Using the platform, hiring managers and talent acquisition teams can start engaging and upskilling their upcoming and new hires. A similar engagement was done with Cisco recently.
Further, Skillspace.ai’s parent platform DPhi is home to 100K+ AI enthusiasts, most of which are professional developers, data scientists, and engineers. Companies like Alibaba, TigerGraph, Tata Communications, and many more have connected with this community in various ways. Such engagements help in increased employer branding and stronger connections among the talent community.
You can contact us here to find out how we can help you in your situation.
Liked the read?
This is an excerpt from a recent episode of Hiring Diaries with Praveen from Meesho. You can watch the entire episode on-demand as it covers several other topics, including:
- The best practices for optimizing hiring funnels at scale.
- Culture-first tech hiring in a time of skewed supply-demand.
- Improving offer to joining ratio.
- Surging recruitment with the right technology stack
- Forging the right partnerships at high velocities
- Preparing for hiring sprees at growth-stage startups
- And more.
Visit here – https://skllspace.ai/hiring-diaries-203/.
About Skillspace.ai and Hiring Diaries
Skillspace.ai helps you deliver better experiences for end-to-end technical assessments at scale. This is meant to improve hiring and retention metrics for growth-stage companies. On Skillspace.ai, you can conduct employee engagement initiatives and hire tech talent through coding assessments, AI challenges, take-home assignments, 1-on-1 interviews, and much more. All of this is offered in a highly condensed and simplified manner. From early-stage startups to Fortune 500 companies such as Cisco, Alibaba, and Capgemini, we have earned the trust of companies across all industries.
We have created Hiring Diaries to support the engineering and talent acquisition communities that have entrusted us so far. Hiring Diaries is now a series of live discussions with the top 1% of talent and technology leaders who share our passion for giving first. It covers various topics regarding scaling technology teams and hiring the best talent. You are welcome to attend any of our upcoming events.
Visit https://skillspace.ai/hiring-diaries/ for more information.