70-80% candidate drop off. That’s what many companies find in their application conversion process. Just think about it. All the investment your company has made into recruiting, and you’re losing 70-80% of your candidates once they get to your career site.
We were astounded by that number and wanted to dive in deeper to understand it. So the Talemetry Research Team (TRT) did just that. They studied the application conversion processes to better understand the very low 20-30% industry standard conversion rates. We identified seven components of the conversion process that impacted the likelihood a candidate would convert. We researched and analyzed each of the Fortune 500 application conversion processes, graded them, and analyzed the results.
Want a sneak peek? Think about today’s candidates, they are more educated, many are using social sites and cloud based storage tools. More than half of candidates are searching for jobs on their mobile devices. And while many career sites may be mobile accessible, that doesn’t mean they are optimized for mobile. We’ll show you how you very well may be losing 87% of your candidates -- if your application process isn’t truly mobile optimized. And what’s scarier: that’s not even the biggest pain point we found.
Companies are investing significantly in recruitment marketing and talent acquisition to attract and recruit the best talent. In the United States alone, companies spend $160B annually on recruiting. 59% of companies are investing more in their employer brand compared to last year and the average recruiting cost per hire is estimated to be $3,500-$4,000.
With more investment going into recruiting, there will be more visibility on the ROI of that investment. HR and talent acquisition leaders will need to study their processes, conversions, and know what strategies and tactics are providing the best return on investment.
Want to learn more? Join us for our upcoming webinar, Recruitment Marketing CPR - Conversion Process Results on November 29. Pete Sanidas, our VP of Sales and also leader of the Talemetry Research Team, will share our findings from auditing the conversion process of the Fortune 500 and some simple changes you can make to your application process to increase your completion rates exponentially.
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- What Does Google for Jobs Mean for Your Career Site
- ROI of the Candidate Experience -- Highlights from Talent Board and Talemetry Webinar