Higher compensation elsewhere (41%) is the main reason people leave jobs, according to LinkedIn’s annual talent survey – ‘Inside the Mind of Today’s Candidate’.
The study identified two other main reasons driving people to change jobs; a better fit for their skills and interest coming a close second (38%), followed by more growth opportunities (35%). However, interestingly, a better job title alone ranked much lower with significantly less incentive to lure a candidate into a role, at just 27%.
88% of people want job details, 75% would like to know the salary range, and 72% would like to have the job title presented upfront. Other important information that candidates look for include the company overview, company culture, company mission, and why they fit.
Ali Matar, head of LinkedIn talent solutions, emerging markets, Middle East & North Africa said: “Recruiters shouldn’t over-rely on salary to hook the right candidate; finding equilibrium between a suitable paycheck, opportunities for promotion and growth, and a great work-life balance is the key to keeping that talent. If you find that – and with it, give people the chance to feel as though they are appreciated and feel a sense of purpose – then both the candidate and the company will be able to grow harmoniously together.”
Another interesting find was that the fear of missing out (FOMO)is real in the professional space as well. Candidates want to avoid the bad feeling of losing a dream opportunity, so they’re willing to hear you out their recruiters. 61% of potential candidates feel flattered when recruiters reach out and they are indeed potential candidates, since the figures show that 94% are open to new job opportunities.
58% of people are more likely to respond to a message if it’s coming directly from the Hiring Manger, with the report suggesting that this is thanks to the increased authority and decision-making ability of someone in that role.
When it comes to research, company website remains the first choice, followed by LinkedIn.
Yet another finding which is food for thought is that people are more sensitive to negative information than positive, so bad interviews hurt more than good interviews help. Nowadays with social media, a bad interview can cost companies more than one candidate and can even lose the company big money. 44% of candidates say a bad interview experience makes them lose interest in the job.