From January – July 2022 PEAR has…
Reviewed 7,896 Resumes
Interviewed 1,494 Candidates
Submitted 933 candidates to our clients
Hired 124 Employees
We all know far too well that the labor market changes unexpectedly & rapidly, and so too does talent acquisition. As our workforce continues to rebound from COVID and unemployment rates remain on the decline, job seekers have more options to choose from. This is making hiring increasingly challenging for employers and sourcing top talent more difficult for HR teams.
If you still believe the ideal candidate will jump through hoops for the chance to interview, think again. Candidates have much higher expectations when it comes to the hiring process and there are almost 40% fewer applicants across all industries. So, you cannot afford to allow the ideal hire to slip through your fingertips.
There is nothing more frustrating than when you finally find the perfect hire and then they end up declining the offer. Well, there are three main reasons why candidates decline an offered position.
The first is being offered below-market pay. Job postings that display specific salary information are 66% more likely to receive a response than one without. This is because candidates want to know what employers are actually offering.
The second is receiving an offer where the terms don’t meet the candidates expectations. Consistency & clarity are crucial for potential candidates. Research suggests that 53% of job seekers prefer the details of a job role to be clearly explained in the job description and candidates want to see a full job description before accepting a position.
The third is a poor work-life balance. Failure to exhibit a progressive attitude towards work-life balance is the ultimate turn-off for a potential new hire. Glassdoor stated that 77% of applicants consider company culture before applying to a job and believe it to be more important than salary when it comes to their overall job satisfaction.
That being said, 52% of job seekers state that lack of response from employers or recruiters is the number one challenge during their job search. This explains why almost 90% of potential candidates remove themselves from the hiring process due to a lengthy hiring timelines.
Clear communication and timeliness from the start are critical aspects of the recruitment process and it’s been proven that a strong recruitment process leads to higher retention rates. Plus, since the cost of replacing an employee is at least 150% of their annual salary, it’s well worth investing in the correct recruitment practices.
To learn more about how PEAR can assist with your recruitment and human resources needs please contact mlukas@pearcoresolutions.com .
Michel R Lukas, SHRM-CP