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Fewer backing out of job offers as opportunities narrow

Fewer backing out of job offers as opportunities narrow

SIA Editorial Staff
| December 16, 2024
Photo of candidates waiting for a job interview

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Fewer job candidates are backing out after accepting job offers, according to a survey by Gartner.

It found that 33% of candidates backed out after receiving a job offer in the third quarter of this year, but that is down from 49% who said they accepted an offer and backed out in an earlier survey conducted in October 2023.

Gartner’s survey also found that fewer candidates said they received fewer job offers. Candidates received a median number of one offer in the third quarter of this year. That’s down from three in the first quarter of 2023.

“Fewer candidates backing out after accepting a job means candidates are losing faith in the job market and can’t be as selective as they were previously,” Jamie Kohn, senior director in the Gartner HR practice, said in a press release.

“The job market is cooling and as the market shifts, so do candidates’ decision drivers,” Kohn said. “We’re seeing candidates shift from prioritizing flexibility to prioritizing compensation and career prospects to better position themselves in an uncertain labor market.”

For candidates who did accept a new position, only 29% thought they could find a better job if they kept looking, down from 43% last year.

The survey included 3,500 candidates and took place from July through September.

Other findings include:

  • Factors on accepting offers. When deciding whether to accept an offer, 52% of candidates cited pay, 49% cited more opportunities for career growth and 48% cited better work-life balance.
  • Signing bonus. Only 23% of candidates reported receiving a signing bonus in the third quarter, down from 37% a year ago.
  • Lateral moves. Candidates making lateral moves received a 15% pay increase, down from 21% at the beginning of 2024.
  • Pay transparency. Seventy-two percent of candidates reported they are more likely to apply for a job if the job description includes the role’s salary. That up from 64% in the first quarter of 2023.