Last week Sarah shared that the unemployed are not as desperate to find a job as we may have thought. But what about your most recently hired employees? Why did they accept new roles in this changing economic climate?
Some initial trends from our Q1 2009 Recruiting Executive Dashboard (RED) survey reveal that new hires are shifting their priorities when it comes to accepting employment offers. While future career opportunities and development opportunities remain the top two reasons to accept a new role, our benchmark is showing that there has been a shift in the other top employment conversion factors.
When comparing conversion factors between Q1 2008 and Q1 2009, organizational stability and employer location have entered the top 4 reasons for a new hire to accept a position. It seems the economic downturn and housing bubble are impacting us at the individual and organizational level, creating a climate where candidates are less likely to attempt a perceived risky relocation or accept a role with an organization with an unknown or shaky economic future.
These new factors in the top 4 not only show what is resonating most with candidates in 2009 but also demonstrates a need for organizations to change how they are selling the benefits of employment within their organization. Recruiters who are able to clearly communicate what distinguishes, and differentiates, their employment brand in this economic climate and into the upswing will be in a better position to attract and convert the best talent for their needs.
For resources to track, trend, and benchmark your candidate conversion factors, visit the Recruiting Executive Dashboard. Our current research initiative also focuses on attracting critical talent in an uncertain economy-stay tuned for new insights to be featured on the RR Web site.
Written by: Charlie Knuth
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