For many companies with large recruitment volumes, their candidates are customers too. Your employer and consumer brands are inseparable. How you behave in one space will affect how people perceive and engage with you in the other and candidates who have a poor recruitment experience will often change their consumer behaviour as a result.
If candidates are also your customers, it means your candidate experience is a business issue and not just a problem for HR.
On the surface it’s a tough problem. The majority of candidates for any role will end up disappointed. And disappointing potential or existing customers is something to avoid.
The mathematics of candidate experience are really quite simple:
- First, understand what you think a typical customer is worth to your business.
- Think about how many candidates you reject in a year.
- What percentage of those candidates could be existing or potential customers? Either now or in the future.
- Multiply the number of rejected candidates who could be existing or potential customers by your typical customer value.
That’s the potential “price” of delivering a poor candidate experience…
Does that happen in practice? We think it does.
We recently spoke to a large professional services firm who told us they were being ‘punished’ by rejected candidates. Candidates they had rejected years ago (including for their graduate scheme) were taking business away from them when they had buying power later in their career. The mindset being, “If I’m not good enough to work there, then they are not good enough to be my supplier”.
So when considering the impact of your candidate experience, bear in mind the impact on your consumer brand where candidates are customers too.
Hireright, in conjuction with the Talent Board, have produced a Candidate Resentment Calculator which allows you to put some figures against the cost of delivering a poor candidate experience to your customers.
You can access the calculator here. The results may surprise you.