Every year, Fortune surveys over 3,800 executives, directors, and analysts, asking them to rank different organizations on nine different attributes. The highest ranked organizations are given the prestigious title of “Fortune’s Most Admired.”
“The ability to attract, develop, and retain talent” is one of the key attributes in the ranking - companies are made up of people, after all. Since an employee at one of Fortune’s ten most admired brings in a staggering $981k in revenue, most every organization stands to learn something from their hiring process.
Let’s look at some commonalities in the way they treat their employees and candidates:
1. A Completely Branded Experience
Fortune’s Most Admired do not settle for generic applications through a third party job board or ATS. They know that more than 75% of candidates conduct their own research - so they make it easy for them to learn exactly what they want to know about working there.
Custom career pages, mobile pages, and employee stories are all ways to create a completely branded experience.
2. They Embrace New Recruiting Methods to Provide an A+ Candidate Experience
In the average company, only 31% of employees said they would go through the same experience to apply for their current jobs - and 47% of candidates are still waiting to hear back from employers.
Fortune’s Most Admired take a forward-thinking strategy on talent acquisition investment.
- 96% have a mobile friendly career site, letting candidates research and apply from anywhere.
- 40% use HireVue for video interviewing, identifying the skills and attributes that really matter while letting…
- 60% of candidates take interviews outside of business hours. Fortune’s Most Admired get to the best talent by letting them interview on their terms.
3. They Measure Candidate Experience and Gather Feedback
Using the same Net Promoter Score that marketers use to identify promoters and detractors, Fortune’s Most Admired constantly refine and perfect the experience they offer candidates.
Net Promoter Score (NPS) asks candidates: “On a scale of 1-10, how likely are you to recommend this experience to a friend or colleague?” HireVue customers (like the Fortune’s Most Admired) consistently rank 2-3x their industry average.
There is also a business case for improving the candidate experience: in Talent Board’s most recent Candidate Experience Research Report, 41% of job seekers that hated their application experience said they would take their business elsewhere, while 64% of those that loved it planned to increase their relationship with the employer.