The Search for Talent

MRI Network reports that 42% of candidates turned down one offer for an offer with another company in the second half of 2013, a 27% increase from the first half. The Top Talent has multiple options, multiple offers and greater expectations. Candidates have less urgency to leave their current employer. In 2013, job vacancies increased significantly, while candidates available to fill jobs fell sharply. Professionals have become less mobile and therefore require significant incentives to move. Wages are stagnant therefore companies may need to modify salary brackets to compete for a new hire without having an internal salary conflict. It is likely employers will have to work harder, promoting culture and the employer brand as much as promoting the job opportunity, along with speeding up recruitment processes and hiring decisions. It is likely that screening and qualifying candidates will require a much more extensive effort.  Employers who can reasonably expand background and experience to deem a candidate qualified will have a better chance of satisfying the job. Other trends that can help gain an advantage in attracting the top talent include creating flexible work arrangements, providing autonomous work setting, allowing work at home and telecommuting, team effectiveness and shared responsibilities and collaboration.