It’s another sign of what the vast majority of agency recruiters say is a candidate-driven employment market.
MRINetwork’s most recent Recruiter Sentiment Study says 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.
Emboldened by the improving economy and the increasingly competitive market for skilled talent, candidates aren’t spending much time weighing offers. It only takes two or three interviews for a candidate to reject an offer.
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.
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Yet 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 or more weeks for an offer to be made. One in five candidates has to endure four or more interviews to get that offer.
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.”