We were working with a wealth management firm that rarely hires this month.  Their team of five total employees and partners were managing close to $500mm of AUM.   They haven’t hired anyone in over a five years.  They simply asked, “How do you make an offer these days?”   

There may not be a right way or wrong way, but here are a few tips: 

• If the start date is going to be contingent upon when licenses transfer, be sure to share that!  Some of this will be out of your control as the employer and some may be out of their control as of candidate.  Pick an anticipated start date but share this could be delayed based on background/finger prints and licenses coming over.   

• Even though it may be a thing of the past with the new FTC regulations, you may want to have a good understanding of the non-compete/solicit or garden leave of the candidate prior to writing the offer letter. 

• Run through the role description with the candidate one more time.  Ask if there is anything else in the description that needs to be clarified before you make the offer.  Don’t assume someone else in your company went over it or that the candidate understands all terminology and processes on the description. 

• We find it is most helpful to ask if there are any final questions or information they would need, besides compensation, that they would need in order to make a decision, as the agenda for a final meeting.   

• It helps most candidates and employers, to go over the offer together, in real time (zoom or in person) and then following up by sending the offer in an email.  This helps catch any reactions or give on the spot explanations.   When the meeting is over, ask how much time they would need to make a decision and then send it to them the letter.   If you need to give a deadline to make a decision, do so.  If you ask the question coming into the meeting, “is there any other information you would need to know, besides compensation, to make a decision,” it allows to have a tighter deadline. 

• It is most helpful for employers to outline PTO and benefits, in the letter.  However, we have found candidates, disturbed when you add up all benefits (like health insurance, or employer side payroll tax, or lunches!) in an “all in comp” number! 

• After the candidate accepts, it can go a long way to send a welcome package, or a gift card or simply have other members of the firm reach out to congratulate.