If you’re a job seeker, there’s no need to fret. According to a recruiter sentiment study published by the MRINetwork, 83 percent of recruiters describe the current market as candidate driven. Essentially, candidates are calling the shots in the driver’s seat.
The report notes candidates are leading the charge even though employers are still operating under the same processes and procedures when it was an employer driven market.
It’s getting harder for recruiters to entice job seekers as competition spikes for skilled talent. Candidates aren’t spending as much time as they previously have comparing offers. They’re rejecting offers early in the process as well. In fact, three-quarters of job offers inevitably rejected by candidates occurred after the second or third interview.
While candidates are moving quickly to decide whether or not they want to proceed, employers are still dragging their feet. It typically takes more than three weeks for a viable candidate to get an offer. And as per the survey, 41 percent of recruiters revealed it can take up to nine weeks or more! To get to that point, 20 percent of candidates have had to endure four or more interviews.
When companies take a long time to extend offers (even if reasons are legitimate like getting internal approvals), simply stated they’re not closing the deal. It easily creates windows for job seekers to lose interest in their roles and pound the pavement elsewhere.
Case in point: 31 percent of recruiters reported their candidate rejected their offer because he or she accepted another one.