The new reality companies face as they recruit candidates in today's tight labor market is a longer-than-average time to fill, candidates dropping off mid-application, and new hires ghosting employers. Employers must step up their recruiting game to land top talent. This starts with providing a great experience the moment the job seeker contacts their company — and keeping it going once the candidate is hired.
State of the job market
The white-collar job market in the U.S. is facing strain, with individuals encountering an increasingly competitive environment. Despite 254,000 jobs added in September, the U.S. Bureau of Labor Statistics reports a steady decline in average monthly job growth — 203,000 over the past year, down from 251,000 in 2023. While applications have surged by 31%, according to Workday's Global Workforce Report, job growth is increasing at a slower 7% rate. This imbalance has left many skilled candidates struggling to secure roles amid heightened competition.
With fewer openings, employers hold more power and have raised their expectations for hires. The average job search as of November lasted 19.9 weeks. Meanwhile, industries such as health care and government continue to see strong growth. Remote job opportunities are also shrinking, with postings dropping from over 10% in May 2022 to 7.6% by July 2024, Axios reports. Amazon's mandate for full-time office returns highlights this shift, potentially signaling a broader industry pivot away from remote work.
Overview of candidates
Companies might naturally question the motivations behind candidates entering the job market, particularly in a landscape where the balance of power has shifted in favor of employers. Are these job seekers looking to advance their careers, escaping stagnant roles, or simply reacting to layoffs and restructuring? Understanding these reasons can provide valuable insight into the mindset and goals of potential hires.
For example, candidates entering the market during such competitive times may indicate resilience, ambition, or a strong commitment to growth despite challenging odds. However, employers may also approach such candidates with caution, wondering if their job transitions are driven by external pressures rather than deliberate career planning.
In this environment, companies might probe deeper into candidates' motivations, assessing whether their career moves align with the organization's long-term needs. Such scrutiny allows employers to identify individuals who bring not just the right skills but also a sense of alignment and stability to their teams, which is increasingly valuable in a market saturated with qualified applicants.
"By understanding what candidates truly value — such as flexibility, competitive compensation, and meaningful engagement — companies can not only attract top talent but also foster stronger retention."
What candidates want
Location flexibility, healthy work-life balance, and competitive (and communicated from the start) compensation are some of the top things many candidates look for in a new role. Some other things candidates look for when applying for new positions include:
Abandoning the application
Candidates today are accustomed to getting what they want with the touch of a button, and they expect the same from the job application experience. Even if they do get through the application, the hurdles don't stop there. When applying for a job, more than half of prospective employees will give up and move on if they haven't heard from an employer within two weeks of applying.
Employers should test out their application process to see how arduous it is. They should also consider how job seekers are applying for jobs and adjust their applications to meet candidates' technologically advanced desires.
Communication expectations
How — and how often — employers communicate with prospective job seekers affects their perception of the company and ultimately may impact their decision to accept a job offer.
Recruiters are busier than ever, but it's crucial to send tailored, consistent communication to prospective employees. Recruitment platforms that have built-in email campaign management tools can help take some of the burden off recruiters.
Cutting off contact
Employers can no longer rest even when they've extended an offer to a candidate, as many job seekers report they've looked for other jobs when an offer has been extended and the background check is in process. And ghosting employers — or cutting off contact after accepting an offer — is now becoming a trend. Approximately 20% of candidates report ghosting companies after receiving a job offer. Background checks and new hire confirmation processes that are fast, easy, and provide a positive candidate experience could impact how many employees show up.
Employee experience counts
A good candidate experience can't stop once someone is hired. Poor onboarding has repercussions: nearly 50% of employees have considered leaving a company because of a negative onboarding experience, with that number shooting up to 80% if training fell to the wayside during the onboarding process. Having the help of technology to automate some of the more mundane parts of onboarding can help get new hires up to speed quickly and allow employees to spend more time getting to know their team and building a foundation that will hopefully lead to a long tenure at the organization.
In today's competitive labor market, creating a seamless, engaging, and candidate-focused hiring process is not just an advantage but a necessity. Employers must prioritize clear communication, simplify application processes, and invest in onboarding practices that set new hires up for long-term success. By understanding what candidates truly value — such as flexibility, competitive compensation, and meaningful engagement — companies can not only attract top talent but also foster stronger retention. In an era where the job market dynamics are rapidly evolving, those organizations that adapt and refine their approach will stand out as employers of choice, ensuring they thrive amidst ongoing challenges.
More tips on attracting the right candidates
Salary negotiations are a key focus for many candidates, so learning how to approach these negotiations can help you land top talent.
Learning some best practices to onboard and train employees quickly can help you streamline your hiring process and improve employee retention.
