It is as surprising to anyone as it is to you why candidates are not joining your company despite the offer of the best package in the industry. You have not mentioned the sector to which your company belongs. Is your package really the best in the industry? You need to do a little research about the market for candidates of the caliber whom you have recruited. If the candidates are talented, there are employers waiting to offer more. You can find out the reasons for these 'no shows'. However, some suggestions that can be of help to you are:
1) Are you sure that you have recruited candidates who are serious job seekers, or are they fence-sitters? Much of the problem of 'no shows' can be addressed at the level of hiring. You need a skillful hiring manager who can properly analyze their responses in the interview to understand their intent.
2) "Best" is a relative term. Does the candidate also consider your package as the "best"? You need to ascertain this from the candidate. The common mistake most interviewers make is trying to convince candidates that what they are offering is the 'best' in the industry and persuading them to accept it. It is not negotiation.
3) Sometimes candidates may be using your offer to negotiate with another company. Find out if this is happening to you as well. If so, you need to tactfully draft your offer letters to not reveal much about the package but also leave no doubt in the minds of the prospective candidate about your commitment to your offer.
4) Packages alone cannot always lure candidates. The interview is not a one-way street anymore. The candidate also wants to know if the organization fits them. They want to know about the culture of the organization, the work environment, learning opportunities, and even about the boss with whom they will work. They would like to ask questions about these aspects. The traditional interviewer tries to know more about the candidate and project their company as the workplace that no one can resist working for. However, candidates also have their own market intelligence. They may not want to join a company that cannot boast much about its brand as an employer in the market.
5) Find out in the interview the factor, other than an attractive package, which the candidate is predominantly looking for in your company that can clinch the deal. Is it work-life balance, learning opportunities, or career growth?
6) Finally, are you holding out these offers with some riders like bonds or undertakings that neutralize the attractive element of your package offer?
You need to do some research on your end, and I hope this helps you in your research.
Regards,
B. Saikumar