So much of talent acquisition news today concerns the candidate experience, and TA professionals know why: 86% of recruiters say the job market is candidate-driven in their industry sectors. They realize their hiring process must with align with candidates’ expectations or they’re just spinning their wheels. However, not everyone inside an organization may see the need to put time and resources into delivering a great candidate experience. Some TA departments face an uphill battle when it comes to making the changes required. We’ve certainly seen this in our experience with potential new video interviewing clients.
If you’re in this unfortunate situation, read on. We’ve gathered some data which may help to convince the rest of your company to buy into making your candidate experience a top priority.
- 47% of rejected job offers are due to candidates accepting another job. Can your company really afford to let nearly half of its top choices in talent go? According to MRINetwork’s 2016 Recruiter & Employer Sentiment Study, 71% of employers surveyed take three to six weeks to extend a job offer. That’s a big increase from the one to four weeks indicated in the prior year’s report. In a candidate-driven market, top talent especially has the leeway to pick and choose. If their experience with your organization is slow decision-making or indecisiveness, the results will show up in metrics such as low offer to hire conversion, longer time to fill and higher cost of hire.
- 82.5% of active job seekers surveyed say the interview experience matters. According to independent research commissioned by Modern Hire, the experience candidates have when interviewing or applying for a job influences their decision to work there. It’s a pretty clear message for naysayers in your organization: Job candidates are impacted by the hiring process you put them through. They will reject you if your hiring process is slow, clumsy or inconvenient. They will embrace you if your hiring process is smooth, transparent, efficient.
- Hiring process quality influences what candidates say about your company. In the same research commissioned by Modern Hire, 89% of candidates experiencing a high quality hiring process would recommend the company to others, in contrast to just 28% who would recommend you if they judged the hiring process quality as low. Remember, candidates aren’t just potential employees. They’re also potential or current customers and sources of referral. So, considering the large number of applicants who engage in the hiring process of large enterprise organizations, the candidate experience doesn’t just impact workforce - it also impacts company reputation.
- 31% of people have quit a job within the first six months. Recruiters know it’s hard to hold onto new hires. According to HRMorning.com data, people quit most of the time because they change their mind on the work type. However, the second most common reason people leave jobs quickly is “different work than expected.” In these cases, the job description may need to be revised or realigned, but candidates also form their expectations about a job as part of their hiring experience. Everyone involved in the candidate experience, including hiring managers and potential colleagues, needs to be on the same page in communicating about the job with candidates.
- 80% of candidates form a negative impression if the interviewer is late. This data from independent research commissioned by Modern Hire shows how even small things can impact a company’s success in its quest for talent. It’s a small request from recruiters to hiring managers to arrive early or on time, but if hiring managers don’t comply, they will be working at cross-purposes with their TA team.
Share the Impressions of 130,000+ Candidates
If you’d like to create more interest about the candidate experience within your organization, it may be time to share the latest Candidate Experience Research Report by Talent Board. The report contains important data from more than 130,000 candidates about their hiring experience, and identifies opportunities for every company to make critical improvements.
For information on ways video interviewing technology can contribute to a positive candidate experience, view our short video or contact us for a live demonstration today.