Dear Parvathy, here's my suggestion: offer candidates in different phases. You might have a tight schedule, such as 5 hires by the 20th of a month. In a worst-case scenario, you might not have any slack period. Hence, identify 10 candidates and offer the first 3-5 to join within a week. If they don't, offer the next 5. This is easier said than done, but this is how we used to manage it.
Offering Incentives and Understanding Candidate Motivations
Offering a joining bonus is a luxury for a few. The same goes for relocation, work timings, and designation. Stay accurately focused on what these candidates are looking for. Money is the greatest but not the sole motivator. Some look for a step-up in terms of role, a few for educational support, and for others, they might be plainly bored to an extent that they can't figure out what they truly want. Once you understand what they are looking for, stretch to offer them with specifications. Avoid painting rosy pictures, as it will lead to higher attrition once they join.
Utilizing Social Media and Building a Referral Base
Using social media to connect with candidates to reduce no-shows is prevalent. However, it's not a foolproof measure. Please connect with them to build a strong referral base, even when they do not join. Take my word, not just them, but even you would find some use, no sooner.
Please let me know if this fits your bill. Looking forward to brainstorming this further.
Regards,