New research from specialised recruiter Robert Half reveals many jobseekers are at risk of losing out on job opportunities after the offer has been made. In a survey of 620 Australian hiring managers, more than half (52%) have rescinded a job offer because a candidate took too long to consider the offer.
In a high-demand, low-supply market, the abundance of available jobs and increased likelihood of receiving a counteroffer from an existing employer means jobseekers are being presented with more opportunities than ever before. The survey shows candidates receiving multiple job offers is the most common reason for taking a long time to consider an offer, cited by almost one-third (29%) of hiring managers, while counteroffers are cited by 22% of hiring managers. Other common reasons for candidates delaying their decision include salary not being perceived as competitive (18%), lack of seriousness about the role (17%) and job content failing to meet expectations (14%).
Across the country, the survey shows Western Australia - with 60% - has the highest number of hiring managers who have rescinded a job offer because a candidate took too long while Victoria has the lowest at only 42%. In New South Wales and Queensland, 53% and 55% of hiring managers, respectively, have rescinded a job offer because a candidate took too long to consider the role.
With so many employers rescinding job offers because of delays in decision-making, jobseekers need to consider the hiring managers’ expectations. According to the survey, over half (53%) of hiring managers expect a response from candidates within one day to one week, while almost a third (30%) think between one to two weeks is acceptable. Only 10% consider two to three weeks a reasonable amount of time and 7% think even three to longer than six weeks is reasonable.
Andrew Brushfield, Director of Robert Half Australia says: “In a candidate-short market, jobseekers have greater freedom to be more selective about the roles they choose to pursue. Multiple applications and offers are a sure way for jobseekers to ensure they find the right fit for them, but often lead to drawn-out decision-making times - causing frustration on the part of the hiring manager who may feel they have no other choice but to rescind their original offer and extend an offer to their other potential candidates.”
“The most efficient way to secure top talent is through a streamlined recruitment process alongside offering competitive salaries and benefits. While lengthy and disorganised recruitment processes can give candidates a poor impression, they can also be incredibly costly to companies both culturally and financially.”
“And yet the recruitment process goes both ways - companies need to communicate reasonable expectations around response timeframes so they can act quickly and accordingly on a candidate’s decision. Perhaps most importantly, jobseekers need to be polite and courteous to all potential employers by communicating regularly during their decision-making process to avoid having the offer rescinded.”