A new report commissioned by recruitment software and services expert, Talos360 has revealed that 40% of job applicants will lose interest if they don’t hear back from employers within 48 hours of applying.
The data shows that hiring professionals can no longer afford to be complacent and must sharpen up their recruitment processes if they are to attract and recruit the best talent in the on-going skills shortage.
‘The Great Renegotiation’ report reveals that application, interview and follow-up processes have to become slicker if organisations are to win the war on talent.
The findings of the report will be discussed at an exclusive business breakfast on June 29th entitled: ‘The Great Renegotiation: Is HR director the hardest job in the world?
Based on an independently commissioned survey of over 1,000 employees who have been actively seeking employment over the past 12 months; the report provides insights into current candidate expectations around the application experience and found that many jobseekers have little patience for drawn-out processes and are dismissive of employers who are slow to respond.
Some of the report’s key highlights: –
- 40% of job applicants will lose interest if they don’t hear back from employers within 48 hours of applying;
- Almost one-quarter (23%) say they’d be put off applying by a boring job advert;
- 41% of jobseekers apply for jobs when they’re supposed to be working for their current employer;
- Three-quarters of jobseekers say they are happy to complete one-click applications;
- One in three (30%) say they multiple interview stages would put them off applying.
Janette Martin, CEO of Talos360, said: “The current cost-of-living crisis is inevitably driving people to look for better positions with higher salaries and increased benefits.
“Employers who stick to their tried and tested application processes and interviews risk missing out on the best talent now, as people just don’t have the time or patience.
“Organisations that refine their hiring practices are more likely to be able to attract and hold the attention of potential candidates, efficiently managing them through the recruitment process to hiring and onboarding.”
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According to the survey 57% of jobseekers in the survey believe that the current cost-of-living crisis is the main reason for looking for a better position.
Martin adds: “Leaving candidates with a poor follow-up experience is bad practice, reputationally damaging and a wasted opportunity to develop positive brand ambassadors.
“Even unsuccessful applicants should feel respected and impressed by their experience, willing to recommend a potential employer to others. Recruiters need to ensure that they are using technology to create automated responses and interview feedback as a matter of course, not leaving it to chance and to be overlooked as new priorities distract their attention.”
‘The Great Renegotiation’ is available here.
Martin will be speaking at the event – The Great Renegotiation: Is HR director the hardest job in the world? – alongside Joanne Brien, partner, KPMG; Dean McGlone, Chief Revenue Officer, Talos360; Ben Audley, chief revenue officer, Summize; Darragh Lee, Head of Talent Acquisition, TalkTalk; Andrew Avanessian, CEO, AppLearn; and Gemma McCall, Chief Executive Officer, Culture Shift.
It takes place at KPMG’s offices at 1 St Peter’s Square, Manchester, and will be hosted by award-winning journalist and executive editor of BusinessCloud, Chris Maguire.