5 Surprising Reasons Companies Rescind Job Offers

Join Isaiah as he discusses why job offers can be fleeting and explores five reasons companies can rescind them

Here’s a quick rundown of this week’s episode…

• First, Isaiah explains that job offers are rescinded more often than PhDs may think
• Next, he explores five of the most common reasons job offers are revoked
• Finally, Isaiah reminds PhDs that intention and commitment are what’s going to get you hired, not catering to your fear or indulging in overwhelm

From This Week’s Show…

Job Offers Are Just That – Offers. Even If You Accept One, Nothing Is Set In Stone

Job rescissions occur more often than you think. 

And sadly, in today’s volatile economy, this practice has become even more commonplace. 

Companies are tightening their budgets – a response to rising inflation and talk of an impending recession – and sometimes these pullbacks happen overnight. 

Many of the recent layoffs and recissions occurred at fast-growing tech companies. 

If you’re a PhD looking to transition into tech, biotech, or biopharma, be aware of this bad company habit. 

The reasons behind a recission may have nothing to do with you – but also realize that your actions during the interview process may also cause a recission – even after you’ve signed the dotted line. 

So, what are some reasons a company would rescind a job offer? 

I’ll give you five reasons. 

Job Offers Can’t Survive These Five Setbacks

The most obvious is that you failed the background check. 

Background checks come with a hefty price tag, and companies often wait until after they’ve made an offer to perform them. 

If you don’t make it past this first step, chances are slim that the company will move forward with your candidacy. 

Another reason for a rescinded job offer is you fail to respond by their deadline. 

Say a company wants an answer in three days, but you know that three days isn’t enough time. Don’t just ignore their request! All you need to do is simply ask for more time. 

Hiring managers understand that this is a big decision. They’re also not naïve to the fact that candidates are interviewing elsewhere. 

If you need more time, just be upfront about it. One effective way to frame your situation is to say, “I appreciate your offer! As you know, I’m currently in late-stage interviews with a few more companies. I can see myself working here but I would like to weigh all my options. I want to make the best decision – both for me and the company. Would it be okay if I gave you my answer next week?” 

Most hiring managers will understand – so long as you continue to be professional and show your enthusiasm for the position. Do, however, be respectful of their time. 

Stalling on a decision is not only disrespectful but it also signals that you’re not interested. 

A third reason you could have a job rescinded is you make a major blunder during your interview.

The most common mistake that would-be employees make is mistaking company social interactions for casual hangouts.

Remember, you’re being interviewed throughout the entire hiring process.

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** for the full podcast, check out the audio player above.

If you’re ready to start your transition into industry, you can apply to book a free Transition Call with our founder Isaiah Hankel, PhD or one of our Transition Specialists. Apply to book a Transition Call here.