Lengthy hiring practices and misconceptions about what motivates top candidates to make a job move are causing companies to lose out on high performers in an already tight talent market, according to the 2016 MRINetwork Recruiter & Employer Sentiment Study. Companies that want to attract and retain the best talent will need to revisit their interviewing and talent management approaches to create a strong employer brand, the report says.

The study found 86% of recruiters and 62% of employers feel the labor market is candidate-driven in their industry sectors. In this environment, candidates confidently reject undesirable job offers, with recruiters and employers listing “accepted another offer” as the primary reason for offer objections, according to the report.

Half of companies cited the lack of suitable talent as their No. 1 challenge to hiring. However, recruiters complained that companies take too long to hire, even when they do meet ideal candidates. Employers now extend offers between 3 to 6 weeks from the candidate’s 1st interview, a shift from 1 to 4 weeks that was observed in the 2nd half of 2015.

The web-based survey included 239 recruiters and was conducted between May 3 and May 17, 2016. A focus group of 54 human resources professionals and hiring managers additionally provided insight.

Thanks to Daily News, June 17, 2016.

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