By John Zappe
Companies are taking longer than ever to make offers and their delay is costing them candidates.
The semi-annual MRI Recruiter Sentiment Study said for most MRI candidates it now takes over three weeks from the first interview for candidates to get an offer. Previously, the largest share of offers were made in the first four weeks. Now, that would be considered speedy since a majority of surveyed recruiters report it’s taking hiring managers more than five weeks to make an offer.
No surprise then that when an offer is rejected, 44% of the time it’s because the candidate has taken another job. Another 14% get turned down because they took their employer’s counteroffer.
Why is it taking so long to fill jobs?
A shortage of suitable candidates was the leading reason given by MRI recruiters, followed by 27% who blamed lengthy hiring practices. Trailing behind, and cited by 17% of recruiters, were compensation packages that were not competitive.
Hiring practices and poor comp packages are also to blame when offers get rejected. Three-quarters of MRI recruiters report fewer than 10% of their candidates with offers turn them down, but when they do, the leading reason is the candidate has already accepted another job. A quarter of recruiters say the offer was rejected because it was too low.