Written by: Team PredictiveHire
Are your hiring practices costing you customers?
Hiring with heart has always been important. A recruitment process is often a customer’s closest contact with your brand promise.
The COVID-19 pandemic and its resulting economic damage will result in [double] your potential customers applying for roles and straining your already stretched recruitment teams. Many organisations are asking themselves are our hiring practices costing us, customers?
Maybe a better question would be how many customers did we lose from that hiring round?
The link between candidate experience and customer loss has long been considered.
Here are interesting findings noted by Ph. Attraction in 2016:
- One in four British jobseekers have either entirely stopped purchasing (12%) or purchased less (11.5%) from a brand because of a negative candidate experience
- 75% of 16 to 24-year-olds say they had applied for a job at a company where they were an existing customer
- 86% of in-house recruiters believe they deliver an “exceptional candidate experience”, yet 37% of job seekers believe they are more likely to win the Lottery than receive detailed job feedback from their next interview
- 1 in 4 believe candidate experience more revealing about brand culture than customer experience
- 29% of job seekers would consider becoming a customer of a brand if they had a positive candidate experience
- 15% of workers would immediately switch to another brand if they had a positive candidate experience when applying for a role at that company
There’s a great read on Virgin Media in the 2020 Candidate Experience Playbook.
Solving candidate experience helps mitigate the potential loss of customers.
In Australia, just one of Sapia’s clients received over 150,000 applications for 10,000 roles in a single year. Unfortunately rejecting over 140,000 potential customers. A poor hiring process could cost them 35,000 customers a year.
This became a catalyst for change. Investing in Sapia:
- Each and every applicant is interviewed
- Every applicant receives accurate detailed, individual feedback and coaching
- Candidate satisfaction with the application process hit 90%
How many customers are you losing in bulk-hiring?
Here are the two big reasons to prioritise improving candidates’ experience in 2020.
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Have you seen the 2020 Candidate Experience Playbook?
If there was ever a time for our profession to show humanity for the thousands that are looking for work, that time is now. Download it here.