Of course, they would rather it was shorter, but hiring is already a multi-months long process in most cases, so a few more months is inconvenient, but not the end of the world. If you need someone now, you hire contractors.
Also, depending on the country, firing/layoffs can be difficult without cause (and often even with cause) (e.g. you can't layoff someone at will, you might need to prove that you have an economic downturn before downsizing). But this varies way more between countries as far as I know.
There are contractor agencies filling the niche of providing employees on short notice (and usually for a short period), but generally having people begin 3 months later is just something everyone expects and factors into their processes.
The average length of time people spend at a single job is also longer than in the US.
It goes both ways of course, my employer is also bound by the 3 month period in case they want to fire me.