June 10, 2019 | By NACE Staff
TAGS: best practices, compensation, recruiting, nace insights, students
Spotlight for Recruiting Professionals
Several employers on the NACE Community have reported an uptick in student candidates reneging on offers for both internships and full-time jobs this year. There are many reasons that students renege on job offers, including a hot job market in which college graduates have more opportunities to choose from, the accelerated interview and offer decision timelines employers are using that add more time to the process, and more. What can you do to help your organization avoid reneges?
Sahil Punamia, founder of The Aspiring Professional, shares that students who are new to the employment marketplace are likely to seek out opportunities that meet their near-term interests and will often choose the offer that's best suited to their current needs and professional goals, regardless of the timelines established by employers or the potential negative repercussions of “burning bridges.”
“That being said,” he continues, “reneging is never ideal and puts all parties involved—students, universities, and employers—in an uncomfortable position.”
Punamia offers several recommendations to help employers combat an increase in renege rates, which, he says, is likely to persist so long as the employment marketplace remains strong:
Punamia says the ability to act on the data really depends on the insight gleaned from candidates’ decisions. Here are two example scenarios he offered of what your data might reveal and how you might potentially deal with the findings:
“Doing everything you can to build relationships between your organization and the offeree as early as possible will help you hedge against competing employers that might distract students with higher pay or flashier brand names,” Punamia says.
Do you have insight into the issue of student candidates reneging on job or internship offers? If so, please share your ideas in the NACE Community.
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