Whether Employers Realize It Or Not, It’s Now a Candidate-Driven Market

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The candidate-driven market is here to stay and the pace at which candidates are rejecting offers is quickening.

MRINetwork’s most recent Recruiter Sentiment Study says that  83 percent of the 333 responding recruiters describe the current employment market as candidate-driven. In three years, the percentage of recruiters who say candidates are in the driver’s seat has risen 29 points.

“It is definitely and without a doubt a candidate-driven market, however many employers are still laboring under the same processes as they did when it was an employer-driven market,” the twice yearly survey report notes, quoting one of the participating recruiters.

Hiring managers aren’t moving fast enough

It takes the typical candidate more than three weeks to get an offer, with 41 percent of recruiters saying it takes even longer, up to nine (9) or more weeks for an offer to be made. One in five candidates has to endure four or more interviews to get that offer.

Yet, as hiring managers take their time, candidates are moving on. Three-quarters of job offers that were rejected came after only the second or third interview. Most commonly, the time between the first interview a candidate has and an offer rejection falls between one and four weeks.

MRI-Why-reject-12.2014According to the survey, “Year-over-year data shows rejected offers after two weeks are on the rise, advancing four percentage points since the first half 2014 survey.”

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As one survey respondent noted, “Many companies are too slow to pull the trigger which provides candidates with the time to investigate other opportunities.”

More candidates are rejecting offers

As a consequence, 31 percent of the recruiters reported their candidate rejected an offer because they took another one. Another 26 percent of recruiters said they had candidates turn down offers because they were too low.

While compensation and benefits are important to candidates, almost half the recruiters in the survey said what candidates most want are greater opportunities for advancement.

“Today’s talent,” noted on recruiter, “are driven by their ability to advance and be recognized for a higher level of expertise.”

John Zappe is the former editor of TLNT.com and contributing editor of ERE.net. John was a newspaper reporter and editor before transitioning to digital media. In 1994, he launched one of the  first newspaper sites. Before joining ERE Media , John was a senior consultant and analyst with Advanced Interactive Media and previously was Vice President of Digital Media for the Los Angeles Newspaper Group where he developed and managed a team of developers, content producers and digital advertising and marketing specialists.

Today, John is a contract writer producing whitepapers, blog posts, thought leadership articles and marketing content and managing  social media programs. He also works with organizations and businesses to assist with audience development and marketing.His website is JohnZappe.com.

In his spare time he can be found hiking in the California mountains or competing in canine agility and obedience competitions.

You can contact him here.

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