Offer Letters and Agreements

In many circumstances, the position to be filled by the candidate will need that the candidate signs a contract-bound agreement in exchange for a formally written offer. The procedure could also be governed by law or corporate policy. Furthermore, other parties such as contingencysearch firms might have a vested interest.

The offer typically covers the total package and not just salary, which also includes all of the other benefits, remunerations and incentives that are being offered by the company. In fact, it is important to reveal the whole package as opposed to showcasing just the salary, as it could further validate the benefits of the position versus another offer s/he may or may not be considering.

The Offer Letter

A complete and thorough review of the job should be reiterated in the offer letter in order to be sure there are no last-minute surprises. Again, the manager should be careful not to try to oversell the position during the course of the interview. A major complaint of those employees who have left the job within the first ninety days is that if they would have known about certain responsibilities of the job in advance, they would likely not have accepted the position.

The manager could end up losing what s/he felt was an ideal candidate at this point of time. When a manager hires a person who then choses to move out very quickly or never meets the expectations, then much of the effort put into the recruitment and hiring goes in vain. Accounting for the cost in time and money to hire and train an employee, such mistakes can be expensive. Even if an employee is less productive and cynical for whatsoever reason (lack of opportunities, financial security, etc.), these negative behaviors could build on and prove to be a major issue for not only the new employee but also for others in the employee’s team, and ultimately the manager.