Exploding Offers: Use or Diffuse?
Written by Linda L. Barkacs
You have decided to look for a new job and have sent out numerous resumes. The good news is that you have several interviews scheduled over the next two weeks. The bad news? You just got an exploding offer! What to do?
First, you may ask, “what is an exploding offer?” An exploding offer is an offer that comes with a time limit for you to accept. Usually, the time limit is very short, often 24—48 hours. There are several reasons that employers feel justified in making exploding offers. For example, consider the situation where someone leaves the company unexpectedly at a very busy time for the company. The position needs to be filled immediately or the loss to the company could be very high. An employer may rationalize that desperate times call for desperate measures. Other times there may be very strong competition for employees with certain skill sets. Employers may also believe that the best way to get a highly qualified person to say “yes” to the job is to force the candidate into a quick decision—accept quickly to avoid losing out on a sure thing. Finally, companies believe that exploding offers push uninterested employees through more rapidly, saving the employer time and money.
So, what should YOU do if you receive an exploding offer?
There are a number of strategies and approaches. You can start by trying to avoid being put into the situation, to begin with. For example, if you receive two or more requests for interviews around the same time, try to schedule the first interview with your top choice. If possible, you might even try to schedule two interviews for the same day. These are both ways to attempt to manage the timing of multiple job offers, but there is no guarantee that your preferred timing will work out.
Another way to approach an exploding offer is to contact your other prospects and let them know you have received an offer from another company (though not sharing the specific details) in hopes that they will either move up your interview or, if you have already interviewed with them, make you an offer.
Candidates often call the employer who made the exploding offer and ask for additional time to make their decision. The call should be backed up by a good “because”—for example, the job requires a move to a new city and your significant other or spouse needs to explore job options prior to a decision being made. In rare cases, the employer may grant additional time for you to make your decision. Unfortunately, research indicates that once made, exploding offers are generally not retracted. In that case, your choices are straightforward: (1) accept the position; or (2) pass on the position and continue interviewing (recognizing that you may or may not receive a comparable or better offer). What do you NOT do? You do not accept the position, continue interviewing, and then if a better offer comes in, retract your acceptance, or quit the job. This is a very quick way to ruin your personal reputation.
Most job candidates dislike exploding offers, so you may be asking yourself “Are exploding offers really a good idea for the company?”
The research seems to point out the wisdom of avoiding the making of exploding offers if at all possible. Why? There are several reasons:
The employee is immediately put under duress by an exploding offer. Once they begin working at the company, that duress may continue as the employee/manager relationship started in a bad place. The employee may feel the manager is not trustworthy and look for the first opportunity to leave the company.
The employee may begin to resent the company for forcing them into a quick (hasty?) decision. This can lead to poor work performance and decreased job satisfaction. Ultimately, the employee quits and then the process repeats itself.
Companies that make a habit of using exploding offers are often branded as places no one wants to work. The rise of social media has allowed for candidates (as well as current employees) to anonymously “shame” employers. Once your company has that reputation, you will likely have an even harder time luring in attractive candidates.
The bottom-line on making exploding offers is that it is a questionable practice that should be resisted, if at all possible. Employees today, more than ever, are looking for quality companies that will value them and allow for a good quality of life. If you receive an exploding offer, you should take into consideration that this may not be a good job fit and it could in fact be an ominous indication of how you may be treated in the future. Do your research and, if possible, don’t let them rush you into a decision you may regret. Take your time to carefully consider any job offer. After all, it’s your future job satisfaction on the line.