The current conditions of the job market have changed the long-standing scenario of employers having the advantage in the recruiting process.
Today, candidates have gained the upper hand and are in the driver’s seat with their job search – making this important business challenge that much harder.
In order to overcome difficulties with attracting and hiring talent
, employers large and small have had to alter strategies and enhance compensation packages just to remain competitive.
But employers can still make mistakes that not only cost them potential hires, but also new employees. A survey from CareerBuilder and SilkRoad
explored job seeker expectations today and things employers are doing that are hindering their ability to recruit and retain talent.
Candidates Expect Modern Recruiting and Onboarding Experiences
The CareerBuilder and SilkRoad survey was conducted online by The Harris Poll in June and July 2018. Over 1,100 hiring managers and 1,100 employees participated in the survey.
The first, and perhaps most important, finding shows how important the recruiting process is today - 68% of employees believe their candidate experience reflects how the company treats its employees
In other words, if candidates are treated to a lackluster recruiting experience
, chances are high they will drop out of the process or turn down an offer. This also increased the likelihood that they would share negative experiences on review sites such as Glassdoor.
Another interesting finding for employers is that 51% of employees say they have continued exploring other opportunities even after they have received an offer.
More alarming, 67% of employers reported a quarter of their new hires did not show up after accepting a job offer. This new trend of “ghosting” by job candidates is being seen more often
by employers today.
Employers also say that 14% of candidates walk away from an offer after they accept it.
Positive Recruiting Experiences are Critical
Job seekers know that they have the upper hand in the recruiting process, which has significantly altered their expectations (43%).
The survey found that communication from employers plays a critical role for today’s job seekers, who expect it to be proactive and transparent:
- 36% expect to speak with a recruiter before applying
- 31% want customized messages and expect employers to reach out to them
- 82% expect a clear timeline from employers for the process and be kept updated throughout
Time is also of the essence for employers, with 55% of employees saying they will move on if they haven’t heard from an employer within 2 weeks.
Additionally, job seekers want a fast, easy, and modern application process:
- Mobile recruiting matters – 43% have applied to a job on mobile
- 20% of candidates will only spend 10 minutes on a job application
- 21% will only go through two or three pages on mobile before dropping out
Companies that fail to meet these expectations
risk losing candidates very early in the recruiting process, or even in later stages. Both can have significant impacts on employers.
Don’t Overlook the Importance of Onboarding
While many employers know the importance of the candidate experience and job seeker expectations, onboarding can often get overlooked. But the results from the survey show
that this can be just as costly.
29% of employees don’t believe their company’s onboarding process helped them in their new role. 37% also said that their manager didn’t have a big enough role in their onboarding, and 9% said they even left their employer because of a poor onboarding program.
The results also revealed that 19% of employees want performance feedback once a month (or more) and 51% said that they expect their organization’s HR department to check-in with them regularly in year one of employment.
However, not all the onboarding data is negative. 72% of employees said that would be likely to refer a friend to their organization after the first 60 days of their onboarding experience.
Employers Can Make or Break Their Recruiting and Retention Strategies
The CareerBuilder and SilkRoad survey highlights how employers can knowingly or unknowingly hinder their recruiting and retention efforts.
Addressing the areas that are important to candidates can help businesses create a great recruiting strategy that includes candidate and onboarding experiences which meet the expectations of today’s candidates
(or exceeds them!).
However, failing to do so could put employers, especially smaller organizations, at risk of missing out on recruiting goals and increase the chances of turnover. Both of these outcomes could have severe consequences for employers of all sizes.
How can outsourcing help small and medium-sized businesses overcome 10 common HR symptoms? Our eBook explains these HR challenges, and how partnering with a PEO can help overcome them!