Recruitment processes going faster than at the start of 2023
Once slow recruitment processes have picked up pace, but there is still a disconnect between the time managers take to offer and how long candidates are willing to wait.
As we work through the final quarter of the year, our Global Recruitment Solutions team look at how the recruitment market has changed, comparing key recruitment metrics across various locations and industries. Earlier this year, our data revealed that hiring managers risked missing out on hiring key talent due to recruitment processes taking longer than the candidates are prepared to wait for a decision.
Our data now reveals that the situation has improved.
Let’s take a look
We analysed the average length of time for the hiring process, from candidate submission to offer, in comparison to the length of time taken for candidates to withdraw from the process.
Seven out of eight regions now have faster processes from submission to offer, compared to data gathered at the beginning of this year. The majority of regions have cut this process down on average by seven days, however, the UAE has cut this process down by 45 days (more than 50%).
On the other hand, Italy now takes longer to hire, with an increase of 12 days on average.
Now looking at the days to withdraw data, we can see that at the beginning of the year, candidates in the US and Germany waited less time to withdraw compared to other regions. However, both of their candidate pools have stayed in a process longer in 2023, with Germany’s increase being the most significant.
In all other regions, the amount of time a candidate waits has decreased compared to our earlier data, with the average withdrawal time being roughly 22 days. Data gathered at the beginning of the year showed candidates would wait on average 33 days before withdrawing from a hiring process.
Comparing our data, we can see that not only are candidates less likely to stick with a hiring process for more than roughly 22 days, but also that companies are recognising this and working to speed up their hiring processes to ensure they are not missing out on qualified talent.
We can drill into this data in much more detail by location, industry sector, level of seniority and more. At The SR Group, our experts within our specialist brands Carter Murray, Brewer Morris, Frazer Jones, Keller West and Taylor Root, have access to unparalleled data. We hold a significant amount of market trend, candidate sentiment and activity data and much more which can support your hiring process and recruitment decisions in multiple ways.
Reach out to us at any time if you want to discuss your recruitment and talent needs.