Hiring complexity - getting distracted in between notice period

Hi everyone, I am new to the field of HR. Please help me out with my query.

I have shortlisted two candidates; both are equally good. One has 11 months of experience and is energetic, while the other has 3 years of experience and is also good, but I prefer the 1st one. However, the 1st candidate has a notice period of 1 month, and the 2nd candidate has a notice period of 15 days. If I give an offer letter to both, the one who can join earlier will be selected. However, it would be unethical for the second one. If I give the offer to the 1st one with a notice period of 1 month and he later refuses to join, I will incur a loss. Therefore, I am unsure whether to give an offer letter to both or if the 1st one will indeed join, or if he may get distracted during his one-month notice period. Kindly suggest what I should do in this situation; your guidance will really help me clarify my vision.

How would you give offer letters to both the candidates when your requirement is one only? If you are desirous of selecting the first candidate, issue him an offer letter-cum-appointment orders with a stipulation to join before a certain date. Any prospective candidate selected for a post can review his decision to accept the offer for a new job till he actually joins depending upon circumstances like his/her current employer's persuasive attempts to retain him at any cost or the candidate's perception of his/her career growth in the new organization or the psychological/physical problems associated with relocation and the like.

Notice periods of one month or 15 days do not make much distinction. If you prefer the second candidate in view of a shorter notice period, what is the guarantee that his current employer would simply relieve an experienced employee in 15 days? Your oscillation on the ground of notice period stems only from your indecisiveness. Mostly the first choice happens to be the best choice; just go with your gut feeling!

I really appreciated the words said by Umakanthan sir on this topic. If you have doubts about the candidates joining your organization, you can also offer them a notice period buyout. If you feel the person you select is exceeding your expectations and can be genuinely helpful to your organization.

Select one and give an offer letter. No point in thinking whether he will join or not. Keep the other as standby for sending an offer letter. The question of giving both offer letters does not arise since there is only one vacancy.

Thank you, everyone, for your time and guidance.

Please call the first candidate. If he is very serious about joining, instruct him to pay off the notice period and have him join you at the earliest. You can offer to reimburse him the amount he has paid towards the notice period, subject to proof. This approach may most likely work out.