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The Hidden ROI: How Prioritising Candidate Experience Boosts Business Growth

The Hidden ROI: How Prioritising Candidate Experience Boosts Business Growth

01 August 2023

Candidate experience. A crucial factor in the recruitment process to hire the best talent for your business. According to LinkedIn, 78% of job seekers say the overall candidate experience they receive is an indicator of how a company values its people. Your candidate’s experience during the interview process must be top-notch.

So we are all on the same page, the term candidate experience needs to be viewed the same as your customer’s experience. Candidates are weighing up your employer proposition as part of one company-wide brand, before they buy.

Poor candidate experience doesn’t only frustrate candidates and recruiters – it also costs reputational damage and revenue. According to Brandon Hall Group, 52% of organisations that prioritises the candidate experience saw increases in revenue of 10% or more. On a more negative note, candidates talk – especially unhappy ones. According to Webrecruit, 74% of jobseekers would let others know if they had a negative experience with a company during the recruitment process.

Meeting as many of the candidates’ expectations as possible will improve the candidate’s experience, build your reputation in the industry, and reduce the risk of dropouts. Want to boost your business growth? Carry on reading…

Mastering Timely and Transparent Communication

At Konker, we love a good statistic to emphasise the importance of a point. According to recruiteeblog, 84% of applicants expect some type of email response early in the hiring process and 72% of those applicants will publicly share their application experience with friends, colleagues or online. The effectiveness of timely and consistent communication is vital to allow the process to be as quick and efficient as possible – two buzzwords for any business! Be sure to consistently communicate throughout the whole recruitment process, show the candidate you are serious about hiring and respect their time. A sure-fire way to maintain a good employer brand!

The Competitive Edge of a Streamlined Recruitment Journey

Candidates are increasingly expecting a well-run recruitment process and time is an important factor. Probably the most gripping statistic is 96% of candidates want to apply for a company with a reputation for keeping candidates informed, according to Fortune. A candidate with 2-3 other applications that are progressing more quickly isn’t going to wait – and why should they?

How Genuine Feedback Shapes the Candidate Journey

A poor candidate experience is likely to create a negative impression and we’ve already covered how candidates who feel neglected will be only too pleased to share their experience. Of course, some candidates are going to be disappointed and not everyone will be hired. But the candidate experience can still end well – provided you can give helpful feedback. According to People Scout research, 48% of candidates didn’t receive feedback on their last application. And of those who did, 38% stated that the comments they received weren’t helpful. Without doubt, candidate feedback enhances the experience and even increases candidates’ likelihood of applying for future roles.

Elevating Offer Management for Lasting Success

The process of making a job offer to a candidate may appear simple at first glance, however getting this right can set you aside from competing employers that make an offer but don’t present it in the best way possible. Creating a specific offer letter with in-depth information on the role, actual benefits (standard holiday, pension, and sick pay don’t count), and a clear pathway to future promotions and exciting career prospects. You need to give the candidates your all to be the employer of choice!

Want help to streamline your interview process or package an appealing offer?

Get in touch with Konker to ask questions about improving your candidate experience or hiring for hard to fill roles!