This shift in recruiting, from an employer market to a candidate market, is due to an abundance of top performers in the labor market who are exercising their right to choose where to work, according to The Fordyce Letter.
A report by MRI Network shows that 42% of candidates refused job offers as a result of accepting an offer with another company in the second half of this year, up from 33% in the first half of 2013.
Top talent is turning jobs down for a number of reasons, including:
Another issue with finding and retaining top talent are increasing employer issues with Time to Fill, mentioned in a previous post.
So how do employers adhere to this shift? Employer branding is more crucial than ever before, according to the study. In addition, streamlining hiring processes to focus on the candidate should be a top priority.
Finally, the study suggests that salary and benefits packages need to shift from "market competitive" to "aggressive" to truly put the employer at an advantage.