The Science of Candidate Experience: Instahyre’s Ebook Highlights the Obstacles Faced by Recruiters and Strategies to Overcome It
The hyper-connected digital world spreads words faster than flames, and candidates know which organizations perform better in the market. For these organizations, creating an impressive candidate experience allows businesses to attract the right talent. Having said that, recruiters struggle to create an experience that delivers an excellent candidate experience.
Ensuring an excellent candidate experience is significant for employer branding and mirrors how employers will treat the candidates after hiring. One bad experience can make candidates less likely to accept the offer. Instahyre – one of its kind AI-driven HRTech platform highlights the challenges of developing a positive candidate experience and how to overcome them to engage the candidates.
Importance of a Positive Candidate Experience in These Turbulent Times
A successful candidate experience is considered the ticket to an encouraging employee experience. Around 60% of job applicants lose their interest in the job offer if the hiring process is complicated, as the report suggests. A poor hiring process can further harm a brand’s reputation, which in turn affects the sales and revenue of the organization.
The acceleration of digitalization has brought a dramatic transformation in the behaviour of the candidates. Technology integration is crucial in helping recruiters meet prospective employees and raising the bar of candidate experience. To build trust between an employer and employee, the speed of an organization’s response is ranked as the most crucial factor in creating a compelling candidate experience and increasing the conversion rate.
The report highlights – 84% of applicants want some response in the earliest stage of the recruitment process, even if it is an automated email. Lowering friction and automating manual and low-touch operations can accelerate the application process and result in a pleasant candidate experience.
Using AI to Improve Metrics
The Instahyre report also reveals – the companies that deployed chatbots, AI resume screening, and email automation recorded a 15% increase in career site conversion rates with a significant drop of 23% in cost per hire. Meanwhile, 74% of applicants give an excellent rating to employers by reapplying and recommending the company to others, which improves profitability and employer branding.
On the other hand, turnaround time (TAT) in hiring plays a crucial role in impacting applicant retention. The Instahyre report suggests how experience with recruitment processes be improved to decrease TAT. According to research published in the report, 90% of today’s job seekers use mobile phones to apply for jobs. Hence, the application procedure has to be mobile-optimized to attract more candidates.
Less Time Taken = Better Experience
To create a pleasant candidate experience, recruiters should also keep in mind not to exhaust the candidates. The employment procedure begins with interviews that helps recruiters evaluate the candidates. Typically, the entire procedure takes around 23 days which may discourage candidates or cause them to lose interest as an outcome of the stretched-out recruitment processes.
According to Adecco research featured in Instahyre’s report, around 87% of applicants believe more than two interview rounds are unacceptable that stretch out the recruitment procedure. To reduce TAT, recruiters must examine who should be engaged in the decision-making process before interviewing candidates who can improve the chances of selecting top talents for the position.
The world of work is increasingly candidate led. Candidates have higher expectations and have lesser time to seek suitable employment opportunities. With that in mind, employers should pay close attention to ensuring a great candidate experience that can help the company build a consistent talent pool and a stronger employer brand.
