Hire Fast, Help Your Business

July 23, 2019by Michael Kelfer0

A tight labor market and increasingly choosy candidate pool is creating a sense of urgency among employers to hire quickly, or lose top talent to their competitors. As unemployment continues to drop, candidates have additional career options and are more willing to leave their jobs for what appears to be greener pastures. This exodus of qualified professionals can be expensive—and stressful—for all companies involved. So, who are the most eligible candidates, and how are businesses quickly engaging with them? The Millennial Majority Millennials will make up 75% of the global workforce by 2025. Successfully hiring this soon-to-be majority of the workforce has become the main focus of Best-in-Class companies. Members of this generation, who are beginning to demand more interview feedback, a quicker hiring decision, and a faster on-boarding process, are changing the way employers interact with candidates. KPMG recently conducted a survey of 400 new graduates applying for a graduate job at a UK firm. The survey revealed that more than one-third were annoyed about how long they had to wait to hear the outcome of an interview, and how long the recruitment process took. The top complaints of Millennial job seekers were as follows: Not being offered feedback if they didn’t land the job (55% of respondents) Poor communication from the potential employer (43%) A long wait to hear the interview outcome (34%) The length of time of the recruitment process (34%) The amount of stages in the process (28%) As a result of the survey findings, KPMG has changed its graduate recruitment process to beat start-ups or tech firms with the goal of appealing to Millennials. KPMG decided to accelerate the hiring process by consolidating the stages—cutting down the typically time-consuming ordeal and improve hiring. Why should you speed up your hiring process? This shift in the hiring process at KPMG is causing a chain reaction in the way other companies are drawing from a competitive (and shallow) talent pool. Millennials want easy and efficient interviews, and they want feedback, whether they’re right for the job or not. And they’d prefer all this to occur within a Read More »

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