MRINetwork Recruiters Report both Confidence and Caution about Current Job Market
Large global recruiting organization MRINetwork recently surveyed its recruiters for the purposes of determining the hiring condition among clients, changes to the hiring process, and the main drivers behind job openings, among others. Out of the 163 recruiters responding to the survey, 56 percent say the current talent market is candidate-driven and 44 percent believe it is employer driven. The primary cause of job openings, as reported by 49 percent or respondents was new positions. Resignations made up the next largest portion of primary job-creating events, reported by 27 percent of respondents.
The company feels that a need exists for the continued growth in numbers hired, but wary companies are more likely to be overly cautious about the economy and thus hold back on returning to hiring levels present before the recent recession. The uncertainty regarding the employment situation is reflected in the recruitment and job creation processes. In fact, the survey found that at least three interviews were required in two-thirds of job searches that eventually lead to an offer. Rob Romaine, president of MRINetwork, commented on this overly-cautious approach by saying, “With 34% indicating that despite rebounding sales, hiring managers meet resistance in getting authorization to fill open positions. It seems clear that significant pent-up demand is still unmet. How great that demand is will likely become clear in the months ahead and could possibly lead to keener competition for the best candidates.”
Despite this heightened concern, the length of the hiring process is actually becoming shorter; typically taking less than five weeks between first interview and time of hire. Romaine said, “Our recruiters increasingly sense that employers are slow to accept that the tide is turning toward a candidate-driven market, which is costing them quality candidates. As has always been the case, the companies that move quickly in the year ahead will snap up the best talent.”