CLIENT NEWSLETTER SEPTEMBER 2022: GDPR COMPLIANCE, DATA PRIVACY, DPA, PRIVACY POLICY, DATA PROCESSING AGREEMENT, SORT AND ANONYMISE DATA, STANDARD E-MAIL TEXT, FREE WEBINAR ON GDPR COMPLIANCE
THE WAR FOR TALENT
Have You Changed the Way You Recruit ?
On average, 97% of candidates are rejected, and 60% are negative afterward. 83% will change their mind about a company they liked because of a negative experience, and 72% of them will share a bad experience with friends, family or online. 64% of job seekers become less likely to purchase from the company and a stunning 18% will stop using the company’s products or services because of a negative recruitment experience. This is why Candidate Experience matters and has such a tangible impact on your business, making it a megatrend in recruitment. We live in a world where Employer Branding is essential in a successful hiring strategy and your candidates will either become your future ambassadors or detractors.
But when did the tables turn? The current conditions on the job market have changed the name of the game in recruitment. Now, candidates have the upper hand and dictate the rules, requiring you to change the way you hire to make your company stand out from the crowd. Are you aware that, despite doing a great job identifying and ‘landing’ a new hire, on average 19% of candidates who are offered a job decline it? This number is at an all-time high.
A New Recruitment Paradigm
There are various reasons for this recruitment paradigm shift, including:
1) A ‘Need for Speed’: What Do You Expect from the Candidate?
Candidates often juggle more than one job application at a time. Because of this, you need to operate fast and – more importantly – communicate your process and timeline in order to be considered as their future employer. You know PI, you know how effective PI is and you know that the completion time is on average 6½ minutes on The PI Behavioral Assessment and 12 minutes on The PI Cognitive Assessment. You also know that on the business side, you – as an experienced PI Practitioner – spend a relatively short time preparing for the feedback session, and the feedback itself does not have to take hours. Is that asking too much of a candidate? We often receive feedback that candidates generally value the speed and accuracy proposition that PI provides, making it an important part of creating a positive Candidate Experience.
2) A Consideration and Evaluation of the Pain Points in a Recruitment Process
In addition to the speed factor, there are numerous pain points candidates experience in an average recruitment process. According to analyses completed by Talenthub, the biggest pain points during recruitment are:
- Expectation setting
- Opportunity to perform
- Transparency
MEASURE YOUR CANDIDATE EXPERIENCE
Talenthub offers a solution for you to measure Candidate Experience, analyse the data collected and present improvements for you to get started on using great Candidate Experience as your competitive edge in this war for talent . They help you build a candidate-centric culture by collecting first-hand feedback from your candidates and other relevant stakeholders (e.g. hiring managers and recruiters) that make your recruitment process great. If you are curious about what Talenthub can do for you, visit their website or contact us for more information.
FREE WEBINAR ON CANDIDATE EXPERIENCE
In a webinar on November 24th at 14:00 CET, Jesper Præstensgaard (Managing Partner in Humanostics) and Daniel Birkholm (Founder & CEO of Talenthub) will discuss how the conditions of today’s recruitment processes have changed, how effective assessment frameworks elicit positive Candidate Experience and how you can benefit from collecting first-hand feedback from your candidates to improve their overall Candidate Experience, turning them into ambassadors. Click here to register for the event.
