A survey of recruiters conducted by MRINetwork, a global executive search organization, revealed that candidates are receiving job offers three to six weeks after the first interview. This is in contrast to the average of one to four week turnaround in previous years.
The longer hiring process is a lingering effect of the recession, but it is no longer going to deliver top candidates “who expect a swifter process”. According to the survey, 90% of recruiters feel candidates drive the current market. Many companies feel there is a lack of talent, and are drawing out the process to find more candidates. As a result, the job market has tightened.
Another factor the survey considers is qualification inflation. Managers are demanding more experience than what the job really requires, and roles are left empty.
In addition, the rate of rejected job offers are increasing as the process gets longer: 80% of job offers are rejected after two or three interviews, and are most frequently rejected three to four weeks after the interview.
The length of time to fill jobs can be attributed to many factors, but the most prevalent ones seem to be too many candidates and too many interviews.
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