The much-anticipated Fortune 500 Candidate Conversion Audit Report will soon be released, with new research examining 8 critical factors in the recruiting process — essentially the candidate experiences you’re creating that leads to conversions — at some of the largest and most reputable organizations. Success with each of these factors alone will make a difference in conversion rates. Together, they can be transformative.
Read this sneak peek into the audit’s top factors that affect conversion and see if your company is checking all the boxes.
Registration Required — Are You Serious? Another Password?!
People have password fatigue. No one wants to give another username or remember another complex password. Yet, we’ve found that almost 90% of organizations career sites are requiring a registration and adding unnecessary barriers to the apply process.
Companies must ask themselves if they’re making it easy for candidates to apply or presenting a big stop sign that says, “No wait! You can’t apply just yet, here’s another hoop we’d like you to jump though.” Make it simple, because the longer they’re forced to stay on your site, the higher your drop off rate.
Social Profile Apply and Cloud Storage Apply
Are you allowing candidates to use their social profile to easily apply for jobs? In a world where social dominates, this approach seems obvious, right? But we found that 30% of Fortune 500 companies do not empower their candidates to leverage their social profiles to apply.
Searching for a job is draining and time consuming, and candidates already spend time creating great social profiles to make the job search easier. Asking them to re-enter all that information can be a big deterrent. This goes as well for cloud-based storage apply. Seventy-percent of Fortune 500 companies have no option for candidates to apply using cloud-based resumes.
These facts are even more striking considering that over half the workforce today are millennials and Gen Z who have grown-up using social media and cloud-based storage.
Double Duty: Hiring Events and Your Career Site
Over 60% of Fortune 500 companies don’t give candidates the opportunity to view or register for campus and other hiring events easily from their career site. It would be like a retail business not giving customers the location of their stores. We found that most Fortune 500 companies have a siloed application process disconnected from the opportunity to register for an in-person event. Why not pull it all together into a streamlined and transparent process that highlights all your recruitment marketing channels and increases the chances to build your applicant pool and your conversion rate?
Say “Yes” to Passive Candidate Capture with Opt-in Talent Networks
Our research shows that many Fortune 500 organizations – over half — are inviting active and passive candidates to join talent networks and smartly promoting these networks across channels. But there is a right time and a wrong time to ask applicants to consider joining.
Job seekers want a fast application process. As a best practice, companies don’t want to force candidates to opt-in to their talent network too early and lengthen that process. But we found that some are still requiring applicant to join before they enter the company’s site.
This creates an unnecessary obstacle, distracts candidates from applying, and most often leaves them frustrated with the need to provide duplicative information in sequential steps. A forced talent network registration typically reduces the number of completed applications.
Anticipate Your Company’s Needs through Opt-in Job Alerts
Over 60% of the organizations are offering job alerts, but that still means that 40% are missing out on this low-hanging opportunity. Job alerts are a way to easily get your job openings into the hands of interested candidates as soon as you list them. It’s also another opportunity for talent management to get strategic, helping your recruiters think about the current positions they’re trying to fill today, as well as focus on building relationships and engaging candidates for the long-term. Even if your organization doesn’t have a current fit for specific candidates, they may be needed in the future – and you’ll have their attention when it does.
Google and Indeed – Everyone Uses Them, But Do You Leverage Them?
We found almost 50% of Fortune 500 companies do not utilize Google for Jobs, which means they’re making the process of an applicant reaching your site more complex than it needs to be.
This leads us to another potential missed opportunity with one of the largest job search engines in the world – Indeed.com’s built-in talent acquisition site. Over 55% of Fortune 500 companies do not provide a direct link to the site’s easy apply process. Instead, when candidates stumble upon their jobs on indeed, over half of organizations force them to be redirected to the company careers site, re-routing again when they already had the candidate on the cusp of applying, losing many of them.
Magic happens when put yourself in the shoes of your job candidates and make the application process as simple and speedy as possible to meet these needs. If you have questions about how your organization can best change with the times, we’re here to help.
Want an in-depth look into all our Fortune 500 Candidate Conversion Audit’s findings? View our recent webinar from Kevin Grossman, President of the Talent Board and Kerry Gilliam, Sr. Director of Marketing for Talemetry.