Candidate experience is not only about the right search, assessment and interview to secure your perfect hire. New IBM Smarter Workforce Institute research among 7,000 recent job applicants around the world reveals that hiring experiences have a more far-reaching impact than you might imagine.
Here are the key findings:
- Candidate experience begins before application. About half (48 percent) of recent job candidates had some kind of relationship with the hiring organization before they applied. Over one third (37 percent) had friends and family working there and nearly one third (30 percent) liked the brand or reputation before applying.
- Better candidate experiences are linked to higher acceptance rates. Our study reveals that candidates who are satisfied with their experience are 38 percent more likely to accept a job offer. Since hiring is a time-consuming and expensive process, investing in improving candidate experience could save time and money and help boost offer acceptance rate
- News about good and bad candidate experiences spreads. Most candidates (over 60 percent) talk about their experiences with friends and family. With mobile and social media, feedback (good and bad) spreads faster than ever. This affects not only the reputation of the hiring organization, but also their ability to attract other candidates in the future.
- Candidate experience links to sales. Candidates who had a positive candidate experience are twice as likely to want to become a customer of the hiring organization compared to those who had a poor candidate experience (53 percent vs 25 percent). Ultimately, candidate experience could even impact a company’s sales results.
In sum, candidate experience could impact talent attraction, organizational reputation and even sales. For more information about the study and the associated recommendations to hiring organizations, please download our white paper: The far-reaching impact of candidate experience.
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