The real estate mantra “location, location, location,” doesn’t just apply to houses anymore, it can also apply to the recruiting world. According to Ceridian, a global human capital management technology company, where a company is located is an influential factor when candidates accept a job offer.
As employers face headaches with a global talent shortage, new survey findings from Ceridian reveals most employees in North America value salary, work/life balance, and job location as major factors when pursuing a new opportunity and considering a job offer.
The survey findings were pulled into a new report called, The Optimal Recruiting Experience, which is being used to better understand the motivations that influence an individual’s career choices. The survey, performed on behalf of Ceridian by Hanover Research, targeted more than 1,500 recent hires and employed individuals who have turned down a job within the last year.
Motivations for Changing Jobs
The survey found job candidates cite salary as the single most common reason (40%) for pursuing a new opportunity, and the feeling is shared across all generations, from young workers to older workers.
While salary remains pivotal, a complete compensation package that supports a good quality of life is increasingly important to candidates, especially if they see more value in the long term. Notably, when respondents were asked to select the factors important when considering a job offer, 68% were influenced by job location. This was closely followed by 66% pushing for work/life balance and salary, and 57% attracted to the company offering growth opportunities. (Respondents could select multiple answers.)
Communicating Brand Value
Just as people consult with friends and family for big, life-changing decisions, for all age groups, word of mouth by far trumps any online resource when candidates evaluate companies. The data also reveals that while 38% of job candidates turn to friends, family, and colleagues to research potential new jobs, 68% consider the same sources very important when determining a good fit with a prospective employer.
The survey showed candidates also search online for information about their prospective employer. Not surprisingly, salary (69%), job location (45%), and information on benefits (36%) rank high, correlating with the top reasons candidates seek new employment or accept offers. Millennial workers aged 18 to 34 are particularly keen (36%)—more than any other group—on researching details around growth opportunities with an employer.
Refining the Recruitment Experience
According to those interviewed, the actual length of time required for the recruiting process was “just about right” when compared to employee expectations. The majority of individuals (55%) expected a 2-week recruitment process. Employers, for the most part, are delivering on that expectation, with 52% of those surveyed reporting that their actual recruiting experience was 2 weeks or less.