Is it taking longer to get a job offer these days? The simple answer to the question is “YES.” As many candidates are experiencing, the offer process can be excruciatingly long, even with the current unemployment rate for people with 4 year degrees at 2.3% and overall unemployment at 4.3%, compared to 6.6% at the height of the recession and 16%, respectively. In fact, a recent GlassDoor study found that in the first half of 2017 it took 23.8 days to receive an offer, up from 22.9 days in 2014. The survey looked at 32 industries with the highest wait time found in the government sector at 53.8 days and the shortest wait time for offers coming from restaurants at 10.2 days. Manufacturing, where CEO Inc recruits, was at 24.6 days, which is almost a full day greater than the average.
Now the question…”WHY?” Here’s the bottom line; the cost of making a hiring mistake for an employer means lost productivity which increases cost for the company. To combat what can be critical hiring mistakes, the hiring process has changed substantially, with more companies doing in-depth background checks. Some reports have shown that background checks have increased by an incredible 42% between 2010 and 2014. Companies are also using more skill and personality assessments in their decision process. HR is now taking more time to make sure the assessments are “perfect” versus moving candidates more quickly through the hiring process and the number of interviews are increasing depending on the position. Lastly, to compound the issue, the timing gets even worse in the summer months when the decision-makers are on vacation.
Yes, the offer process can certainly be frustrating so patience becomes a must for candidates that are in the waiting mode. Candidates can help move the process along by setting a timing expectation – asking after their first interview what the time frame is for filling the position. Remember, employees are a valuable asset to companies and to build a successful team employers can’t afford to make mistakes, even if it means waiting substantially longer to make an offer to a candidate.
Author: Don Cartwright, Director of Recruiting/Partner, CEO Inc. Read more about Don here.