Candidate experience is how candidates perceive and interact with the hiring process. The key components of candidate experience are the job application, the screening methods used to filter candidates, and the interview process.
A stellar candidate experience was necessary for hiring teams as they battled for the best talent during a candidate-driven job market, but what about now?
We're seeing a power shift from candidates feeling empowered during a tight labor market, to those same individuals feeling defeated, or even hopeless, as we recover from record unemployment.
While some companies may look forward to renewed bargaining power thanks to a much broader pool of active job seekers, the real opportunity is in using the down market to develop candidate experience as a competitive advantage.
A great candidate experience keeps loyalty of current customers, creates new customers, increases the depth of your talent pool, and helps you land the best talent.
When evaluating their experience, today’s candidate’s look for:
Today's candidates are mobile-first, and they value engagement. One Gen Z job seeker shared after applying to 30+ jobs that "when companies 'ghosted' me – especially the ones whose application took a long time – it left my image of them tarnished. A sensible 'we're interested' (or not) goes a long way. In one instance, a company was very prompt to schedule a phone interview, using text messaging to get in touch, and keeping me in the loop throughout the process. While I wasn't overly interested in the company when I applied, their communication was so personal and swift it changed my entire view on the role and organization."
This is no surprise. Companies that utilize chatbots are 3X more likely to improve candidate experience, and satisfied candidates are 38% more likely to accept a job offer.
Company culture is top of mind for job seekers. Today’s candidates are adamant about working for an ethical organization and look at the candidate experience as an impression of how companies value their people.
Standardizing your hiring process will help. Candidates are 204% more likely to increase their relationship with an employer if they felt the interview process was fair.
You're not the only one aiming for a fast time-to-hire; candidates value speed too. In fact, 60% of job seekers quit mid-way through a job application due to length or complexity. Measure how long it takes to complete an application on your careers site, and aim for 5 minutes or less.
While engaging every applicant, building a strong company culture, and simplifying your application process all work to improve the candidate experience, that’s not all; they also boost your bottom line.
Recruiting automation empowers companies to aggressively compete for the top talent by finding the best candidates faster, and by drawing from a broader, more diverse pool.
Additionally, recruiting technology eliminates tedious tasks such as interview scheduling, which reduces cost-per-hire through significant time savings.
Plus, when you make candidates happy during the hiring process, employee retention skyrockets, saving thousands per person in employee replacement costs.
To measure candidate experience, you will need to survey your candidates and monitor change over time as you tweak your hiring process to improve candidate experience. You can also monitor varying responses at different stages of the hiring process.
We recommend keeping candidate experience survey questions as short as possible, preferably one simple question. Ideally, your hiring software designed to help improve candidate experiences, such as hiring assessments or chatbots, will have candidate experience surveys and analytics built-in.
One way to measure candidate experience is with net promoter score (NPS). To measure NPS:
HireVue is built for giving your candidates a great experience which is why we automatically measure the NPS of every single customer to ensure the best experience for your candidates. Our customers average >50, which is considered excellent.
We've found that our customers average NPS by industry:
We've also surveyed over 1.5 million candidates to determine how they rate HireVue interviews. The results?
We've pulled the latest candidate experience statistics and insights from employers of choice to guide you through creating a faster, fairer, friendlier hiring process.