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The screening process is all about getting to know your prospect and discovering what is essential to him or her. Hopefully, you've already discussed the title, compensation, perks, duties, and prospects for promotion. It's finally time to make a formal employment offer.

Your offer is a negotiation for both you and the applicant. After all, you've spent a lot of time and effort screening candidates and don't want to lose them. At the same time, you don't want to provide too much information. So make your offer as soon as possible, either in person or over the phone, so you can show your excitement and love for the individual.

Here are a few things to think about.

Examine the competition.

Find out what other companies in your field are paying for comparable roles so that you can compete. Set your boundaries. Determine your absolute wage and benefit limitations. You may then make a lower offer so that you have opportunity to negotiate. Take advantage of low-cost benefits such as working from home, flexible start hours, or extra time off over the holidays. To sweeten the deal, consider a signing bonus or a profit sharing plan.

Explain in detail.

Describe the compensation structure, including the basic salary, bonuses, and benefits. You can't be accused of being sly or underhanded if everything is on the table. Concentrate on what is vital to your candidate.

Make a written record of it. You may make a verbal offer and explain it verbally. However, be sure to put it in writing as part of a formal offer package to avoid misunderstandings.

Be prepared to walk away.

No matter how much you like your candidate, he or she must be sensible in negotiations and counter-offers. If the applicant makes excessive expectations and seems to be rigid, you may have misconstrued his or her intentions throughout the screening process. It's conceivable that the individual isn't as good a fit as you anticipated.

Establish a decision deadline.

If everyone has done their research, you may anticipate your offer to be accepted within a day. Some intricate proposals may need a candidate taking one or two days to consider them. Any longer than that, and something is probably wrong.