This week’s Hiring Success 2017 talent acquisition event was nothing short of fantastic, based on the conversations we had, the connections we made, and the learnings we took back to share with our employees and clients. We were proud to be the event Title Sponsor, and prouder still to be a partner of SmartRecruiters, who announced impressive, cutting-edge recruiting solutions for HR.
If it wasn’t clear to any of us before, it sure is now – delivering a great experience to candidates, new hires, and employees is critical to your organization’s bottom line. Below are experience-related insights shared at this week’s event, but that’s not it. I’ve added questions to the insights for you to answer, so you can make them actionable.
75% of your candidates are your customers.
Have your reviewed your hiring and onboarding processes from a buyer perspective? How is the brand conveyed?
80% of candidates never get feedback after they apply to an organization. These same people are likely to never apply to your organization again.
If you don’t have a step for providing feedback as mandatory in your recruiting process, can it be added?
72% of candidates who had a bad hiring experience share their story online.
What are the stories being told about your organization? How can you improve upon what’s being said?
42% of candidates who have a negative hiring experience won’t be coming back to your brand.
If you assume 10% of your candidates have a negative hiring experience, what’s this impact in terms of projected revenue lost? This estimate may prove helpful to you, if you present it as the alternative to the investment you’re proposing to introduce a technology solution to help you.
Companies implementing a formal engagement strategy are 67% more likely to increase revenue per employee -@aberdeengroup
Do you have an engagement strategy? What is your revenue per employee? If you’re requesting resources (i.e. HR technology) to implement an engagement strategy, compare the projected spend to your organization’s revenue per employee multiplied by a realistic increase to help your case.
Only 12% of employees strongly agree their organization does a great job of onboarding – @gallup
Have you polled your new hires? If yes, what do they believe was great, vs. not-so-great?
Nearly 60% of companies say the biggest influence on onboarding efforts is cultural engagement -@aberdeengroup
Have you reviewed your onboarding program to see how company culture is included? Have you asked your new hires?
The cost of a bad hire is approximately $25,000 – @gregbackstrom
Would you agree a bad candidate experience may cost your organization $25,000, then?
10 minutes is the time millennials expect a response from a consumer brand – @ray_anne
What is your organization’s response time to your candidates in the hiring and onboarding process?
45% of global respondents left their last job due to concern over lack of career advancement.
Is addressing your candidates’ future path at your organization a key component of your hiring and onboarding process?
Of course, I’ll leave it up to you to determine the next steps, and note we’re here for you if you need any help figuring out how to best deliver great experiences and heightened engagement to new hires.
Click here to see more from SmartRecruiters Hiring Success 17!