Despite overwhelming evidence supporting the importance of a positive candidate experience, some executives and board members are still clinging to traditional recruitment methods. Here are some tips on how to convince them otherwise.
Years of research have convinced some companies to re-focus their hiring processes towards providing great candidate experiences. However, many executives still question the necessity of such a change. From their perspective, it’s a friendly thing to do, but not worth the required time and resources. What they may not realize – and what hiring managers must inform them of – is the amazing ROI they can expect from such an initiative.
Positive Experiences Bring Positive Candidates
According to CEB, successful candidates who report positive hiring experiences apply up to 15% more effort and are 38% more likely to stay with a company – prime examples of huge returns on standard investments.
And it doesn’t stop there. High-skilled candidates share information with others in their field, and if they’re inclined recommend your company, your chances of attracting top talent vastly increase. Word-of-mouth is still a powerful recruitment tool, and this type of hiring can save companies money that they would’ve otherwise spent on training programs and recruitment marketing.
Candidates Are Customers, Too
Today more than ever, recruitment, marketing, and branding are intertwined. The prevalence of social media means that once enough people have a negative hiring experience with the same company, that company will see a decrease in sales.
Research from Mystery Applicant reveals that 49% of candidates have a pre-existing relationship with the company they’re applying for, and that more job seekers are willing to share negative experiences than positive ones. The research concludes that “a poor candidate experience can diminish the brand, reduce sales revenue, and decrease positive customer recommendations, both on and offline.”
Providing positive experiences can also pay off in terms of company marketing. Innovative recruitment methods often receive good press and awards such as Talent Board’s CandE, which can provide companies with marketing boosts that no board member will want to pass up.
A Competitive Advantage
In a fast-paced job market, positive candidate experiences are more important than many executives may believe. By developing a reputation for providing positive candidate experiences, you can gain competitive advantages over your rivals, build a stronger brand, and ultimately, earn a higher ROI.
While it’s true that any process change requires time and money, well-handled change has the potential to reward those investments very quickly. If presented with enough facts, even the most stubborn of board members won’t fail to see the major advantages of a good candidate experience.