Consider the following stats on job searches:
- 62% of jobseekers say they want the entire application and hiring process to take less than two weeks.
- 88% of candidates are “worried” or “extremely worried” that hiring algorithms determine their fate.
- 73% of candidates say looking for a job is one of the most stressful life events. The two most prominent drivers of this stress are lack of transparency with compensation and disruptive interview-scheduling changes.
This brief dataset says it all.
Jobseekers in virtually every industry internalize the innate pressure of the application process – and its subsequent waiting game.
So, what can recruiters and hiring managers do to allay these feelings and streamline their talent pipelines? Put the applicant experience first, of course.
Timeline and compensation transparency
For as much hype as company culture gets in the HR space, candidates are also looking for clarity on the bread-and-butter basics of employment. Competitive benefits, convenient commute and good salary are the top three factors candidates consider when applying.
Here are some additional points of importance:
- 83% of jobseekers say clear timelines on the hiring process would greatly improve the applicant experience.
- 67% research salaries for positions they’re applying for (because compensation is not listed in the ad).
No one appreciates a bait-and-switch. Applicants are constantly on the lookout for job specs that are too vague or roles that quickly veer away from their expectations.
- Just 47% believe job descriptions actually match the actual job responsibilities of the role.
- 48% say the pre-interview experience impacts their perception of companies.
- Once hired, 26% quit a job because of the onboarding process. Another 44% consider quitting.
Clearly, employees have been burned by companies mismanaging their expectations, changing their job functions and forgoing structured training.
Applicants are time-strapped, sensitive to online opacity and eager to hear updates on the process.
Recruiters and hiring managers can increase their odds of landing quality hires by proactively reaching out to workers who could be a good fit (before they even apply), increasing their usage of online video content and improving their admin speed.
Take a look:
- 58% of job searches last less than two months.
- 50% of all applications come from a job board (35% come from company career pages).
- The most effective way to apply for a job is to reach out directly to the hiring manager (a 19% applicant success rate). But only 0.14% of applicants ever try this route.
- Between 70-85% of job openings are never posted online. They’re filled internally or through referrals.
- 50% of recruiters plan to invest more heavily in social media to source candidates.
- Recruiters can see a 34% uptick in applications if they include a video in their job post.
An amazing applicant starts with an amazing application process.
Payday HCM has a hiring and onboarding module that can help you boost this area of your business. Hiring is a key part of every company’s growth strategy, and finding the right candidates is important to preventing costly employee turnover. With Payday HCM’s electronic onboarding, you can get rid of the stack of new-hire forms and allow your hires to tackle their tasks online, before they come in for their first day of work.