74% of candidates approached by hiring managers multiple times a year
Looking to get ahead in the ongoing war for talent? Then it’s time to get your recruiting practices up to par.
According to a report released this week by Boston Consulting Group, 52% of candidates would refuse an otherwise attractive job offer if they had a negative experience during the recruitment process.
“Employers need to be aware of where candidates are coming from and should adjust their negotiation technique accordingly,” says Kovacs-Ondrejkovic, an associate director at BCG and a coauthor of the study.
“With digital superstars, they may not get a second chance, so it’s best to start with a strong first offer. With other segments, employers may have more space for discussion. But one thing that seems sure is candidates are less and less likely to simply accept an offer without asking for more.”
The report, “What Job Seekers Wish Employers Knew,” is based on a survey of 90,547 respondents from 160 countries – and, as such, is the world’s largest survey dedicated to exploring job seekers’ recruitment preferences.
According to the data, 74% of candidates are approached by hiring managers multiple times a year, with 39% being approached every month. And, considering the tight latent market and candidate-led roles, 68% of candidates feel they’re in a strong negotiating position when it comes to looking for a new role.
Despite being obviously weighted towards the jobseeker, employers are falling behind when it comes to their hiring practices, with flexibility a main concern. Seven in 10 candidates said that they expect future employers to “demonstrate some openness” when negotiating conditions – something that’s emerged as a bit of a dealbreaker.
“Choosing a job is one of the most important personal decisions one can make, with heavy implications on one’s life,” says Kate Kavanagh, co-managing director of The Network, and a coauthor of the study.
“Therefore, employers can’t look at recruitment as just another corporate process. Recruitment should be about providing a positive and inspiring experience, and making a genuine human connection with the candidate.”
So what does this new breed of candidate want? Well according to the data, work-life balance emerged as their number one priority (69%), followed by career progress, hybrid models (54%), (41%) and working on exciting topics and products (27%).
Additionally, 75% of candidates are craving that “five day work week”, contrary to the four day week phenomena, with 25% of candidates adding that they’re more than comfortable participating in AI-led interviewing.
