Guest blog: Kevin Grossman, Talent Board
Although the holidays already seem like a lifetime ago, it’s yet again the most wonderful time of the year – when Talent Board releases its signature talent acquisition research into the best practices, platforms, and processes that enable companies to provide an amazing recruiting experience to their job candidates.
We at the Talent Board are so excited because our benchmark research set a new program record in North America, with more than 240 participating companies eager to put their recruiting practices under the microscope, and over 183,000 job seekers sharing their thoughts and experiences as candidates.
With contributions by TMP Worldwide as the global underwriter of Talent Board, they focused on providing actionable insights on improving recruiting practices. The candidate experience should always be evolving and ready for the future, and TMP’s experts illustrated this holistic approach throughout the report.
A major focus of the 2016 report is the business imperative of providing an exceptional candidate experience. More than ever, a company’s recruiting practices, from the talent attraction stage through application, interview and disposition, can have a potentially significant impact on the business. Candidates who have a positive experience will be more likely to apply to the company again, refer their peers and, for consumer brands, continue to be a customer and advocate for that company.
However, a negative experience can have the opposite effect, as candidates with poor experiences indicated they will actively discourage others from applying. In fact, six years of CandE Awards research conclusively demonstrates that on average 41 percent of global candidates who believe they have had a “negative” overall one-star job seeker experience (based on a 1-5 Likert Scale rating) say they will take their alliance, product purchases and relationship somewhere else. On one hand, that means a potential loss of revenue for consumer based businesses and referral networks for all companies.
On the other hand, 64 percent say they’ll definitely increase their employer relationships based on the very positive job seeker experiences they’ve had. These aren’t just the job finalists either, but the majority are individuals who research and apply for jobs and who aren’t hired. When we look at how likely candidates are to apply again in the future, it’s clear that those who have an overall five-star experience are much more likely to do so versus those who have an overall one-star experience. The same is true for how likely candidates are to refer others to work at the companies.
The following include more of the key takeaways from this year’s report:
- Referrals and Employer Review Sites Are Key. Referrals have increased in importance for both employers and candidates, with 56 percent of employers using employer referral programs to engage potential candidates, and 33 percent of candidates leveraging referrals, up 14 percent from 2015. And employer review sites like Glassdoor continue to increase in importance for employers and candidates alike in the searching and the sourcing.
- Candidates Continue to Do It Their Way. The majority of candidates continue to take control of their own journey, with 75 percent of candidates conducting their own job search research across multiple channels prior to applying. Company values and employee testimonials are two of the most valuable types of marketing content for candidates at 42 percent and 36 percent respectively, and job descriptions and salary ranges are two of the most valuable types of job content for candidates at 63 percent and 35 percent respectively (although have decreased in significance over the past three years).
- Mobile Apply Moves Upward. Many technology providers continue to improve or enhance their mobile recruiting and apply capabilities, and 79 percent of employers now offer mobile apply, up 18 percent from 2015, and 21 percent of companies are considering a mobile-enabled system in 2016/2017. Surprisingly though, only 12 percent of candidates said they applied through a mobile device, slightly up from 2015. While more candidates may be using mobile devices to research jobs, applying via mobile is still low overall.