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Candidate-driven market equals retention challenges in 2015, survey finds

December 18, 2014

Consistent growth in the labor market is providing top executive, managerial and professional candidates with the incentive to pursue other job opportunities, causing mounting retention challenges for employers, according to the 2014 second half edition of the MRINetwork Recruiter Sentiment Study.

Eighty-three percent of respondents defined the talent market for the executive, managerial and professional sector as candidate-driven, up from 79 percent in the same survey one year ago and 54 percent in the second half of 2011. Only 17 percent said the market is employer-driven.

Key findings from the MRINetwork survey include:

  • Most of the surveyed recruiters continue to feel that the labor market is candidate driven, and this sentiment has grown since the first half of 2014.
  • The primary reason for job offers being rejected continues to be a result of candidates accepting another job offer, selected by 31 percent of respondents. A lower-than-expect salary/benefits package and changed mind about switching jobs followed at 26 percent and 16 percent respectively.
  • Although 23 percent said improved compensation is a major consideration for candidates looking to make a job move, 49 percent said the primary motivating factor is the availability of advancement opportunities.

The web-based survey included 333 recruiters and was conducted between Nov. 10 and Nov. 19, 2014.