For many candidates, the modern job application process is an inefficient and frustrating beast to wrestle with. It's something that might seem like a problem for candidates alone, but it actually ends up hurting the businesses themselves.
Here's why you need to improve your application processes.
What makes an application process bad?
Perhaps the most glaring problem in the job application and recruitment process is the amount of time it takes. A CareerArc study* found that just under 70 per cent of candidates feel that the response time to candidates waiting on information about an application they made needs a lot of improvement. In some ways, this slow response to candidates' applications can be a side effect of the time it's taking companies to fill their positions. LinkedIn's Global Recruiting Trends Report for 2017** found that 50 per cent of companies surveyed took one to two months to fill a position, and a smaller yet still significant 17 per cent took between three and four months. For a candidate looking at multiple jobs from multiple companies, this can simply be too long.
Time was rated as the ultimate issue by respondents in the CareerArc survey, but behind that with 41 per cent of candidates agreeing it needed significant improvement, was the online application process itself.
The negative consequences of a bad application process
A negative candidate experience can also hurt the consumer brand of your company. A majority of candidates – 64 per cent – said they would be less likely to purchase a product from a company with whom they had a negative candidate experience*. This is corroborated by a study from Ph.Creative***, who found that Virgin Media's negative candidate experiences had cost the company 4.5 million; around 7,500 people had swapped to one of Virgin's direct competitors after completing the application process because of their poor experience.
The CareerArc survey also brought to light a number of other worrying statistics. Just over half of the candidates surveyed said they had abandoned an application for a job after reading a negative review of the employer. A third of candidates have shared said negative reviews with friends, and if the review was posted online, people were 66 per cent more likely to spread the bad press on social media too.
How does Monash Talent help?
With Monash Talent, a bad application process can become a thing of the past. Our games-based platform makes it easy for candidates to demonstrate their key skills to employers, in a way that can get them hired in an incredibly short amount of time.
What was the top technology HR managers in the CareerArc survey wished their companies would adopt? Gamification, which is exactly what you get working with Monash Talent. To learn more about finding your next stellar candidates with Monash Talent, get in touch with the team today.
*CareerArc. (2017). The Future of Recruiting. (Accessed July 2018). URL: http://web.careerarc.com/future-of-recruiting-study.html.
**LinkedIn Talent Solutions. (2016). Global Recruiting Trends 2017. LinkedIn. (Accessed July 2018). URL: https://business.linkedin.com/talent-solutions/cx/2016/10/global-recruiting-trends-2017/3qc.
***Adams, B. (2017). Candidate Experience Mapping & Design: A Complete Guide. Ph.Creative. (Accessed July 2018). URL: https://www.ph-creative.com/media/1243/candiateexperienceebook_v2.pdf.