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Candidate-Driven Market Continues
We are pleased to present the MRINetwork's 2016 Recruiter & Employer Sentiment Study. The Study is an employment trends survey of MRINetwork recruiters, across our approximately 600 worldwide offices, providing us with insight about what the Network is seeing in today's talent market. This time around, insight was also gained from human resources professionals and hiring managers, across a variety of industries and regions around the globe. We received participation from 239 recruiters and a focus group of 54 employers.
The following are some highlights from the survey:
- Eighty-six percent of our recruiters continue to feel the labor market is candidate-driven in 2016. Employers also agree with this sentiment, with 62 percent saying top talent are driving employment within their market segments.
- In this environment of the candidate-driven market, candidates confidently reject undesirable job offers, with recruiters and employers listing "accepted another offer" as the primary reason for offer objections.
- Despite plans for expansion, employers' biggest challenge continues to be an inability to find enough skilled talent. Some of this is a result of companies being disconnected from what is most attractive to candidates looking to make a job move. Compensation was the top pick among employers, while recruiters selected advancement opportunities most often. While compensation is important to candidates, immediate and long-term advancement opportunities are what drive talent to join a new company, since improved compensation is implied with upward mobility.
- Candidates want to hear real examples of how an organization's best employees have advanced. Companies can demonstrate that upward mobility is a part of their culture by implementing career-pathing - a process by which managers and their direct reports map out a long-term plan for the employee's incremental progression to new roles in the company. This can be an effective strategy to engage and retain top performers, empowering them to drive their own careers.
To view the complete Study, visit: MRINetwork.com/Recruiter-Sentiment-Study.