Candidates don't join after collecting offer letter - They say their company has retained them by giving increments

Hi, I am currently facing a major issue in recruitment, especially for hiring Dot Net Developers, which I would like to share here and request a solution for the same. We have been working hard to get candidates for the said position. After the entire long process of recruitment, we decide to go ahead and send an offer letter to candidates after discussing the salary part on the call to which they agree. But after receiving the offer letter, they deny and don't join us. Some candidates, after accepting the offer letter, have not joined us. They say their company has retained them by giving increments.

Also, while conducting interviews, candidates do not hesitate to mention that they already have an offer of XXX amount, and if they get a hike, then they can think of joining us. This is ridiculous. It means that they keep collecting offer letters and have no sense of commitment.

Can you please give me suggestions and solutions to this problem? Is it right if we do not give them an offer letter before they join us? Instead, we can just send them an email stating that they are selected. Please advise.

This is the paradox: we abound in unemployment while there is a real dearth of employable candidates. Indeed, this is the scenario in most industries and even in the highly glamorized IT sector too. One can consider hiring fresh graduates or opt for campus recruitment and then provide training. When you seek experienced candidates, those with genuine experience are hard to find. Consequently, they may demand more and even reject your offer at the last minute. Offering additional incentives and considering a joining bonus may be necessary.

Delaying the offer letter is unlikely to be very helpful, it is believed.