State of Hiring
Insights and trends from over 2,000 employers and candidates to get a clear picture of what hiring looks like today.
Top talent deserves a top candidate experience and a modern interview process. Your company’s reputation, values, and opportunities may have captured the attention of high quality job candidates, but you’ll have to prove your worth in order to keep it. Today’s candidates want to work for employers who demonstrate workplace flexibility and a fair and equitable workplace culture—and that all starts with the interview.
Candidates don’t want to have to take time off work to commute to an on-site interview location, only to be confronted with a one-sided interrogation that challenges their well-earned skills and expertise. Unstructured interviews often lead to recruiting teams asking out-of-touch questions that poorly gauge how they will perform in the role or—in the worst-case scenarios—they may even violate discrimination laws enforced by the U.S. government.
Worse still, job seekers are forced to wait 20-40 days on average after the final interview to receive a job offer, with little if any communication from the hiring team. With only a 36.89% chance of receiving a job offer after having one interview, it’s clear to see how a traditional interview process can be a major time sink and source of frustration for job seekers.
So why does this matter if you’re the employer? It’s actually quite simple: a poor interview experience leads to a negative overall candidate experience, and you’ll lose the interest of top-quality talent. Intelligent interview platforms help companies avoid the common pitfalls that turn best-fit candidates away—keeping your candidate pool strong to drive your workforce forward.
Even in areas of high demand and well-paid jobs like technology and finance, nearly half of job seekers will decline a job offer due to a bad experience in the hiring process. Furthermore, the interview process is a major factor to influence a candidate’s perception of the employer: 83% of candidates would reject a dream job offer based on a negative interview experience, and 87% of candidates would reconsider a company they once doubted after a positive interview experience. Incorporating modern interviewing techniques like video interviewing can help improve the candidate’s interview experience and assist in expediting the hiring process.
Once you lose the interest of your best candidates, you increase the risk of a bad hire. On average, a bad hire costs employers $240,000 in sunk-cost salaries and the cost to restart the hiring process. This doesn’t even include the 70% more time spent managing a bad hire or, when it becomes clear the employee isn’t a good fit for the job, the lost productivity your business will encounter due to an unfilled role.
Ensuring top-notch questions and interactions during the interviews puts your business in the best position to make a great hire and reap the benefits of business growth, lower turnover, and less time spent on managing a new hire. The utilization of video interviewing platforms provide the opportunity for teams to make hiring decisions based off replay, not recall to accurately assess candidates.
Properly conducting interviews to enhance the candidate experience also may have an impact on your brand reputation. For instance, 8 out of 10 candidates will share a positive experience with their network and 50% will post about it on popular platforms like LinkedIn and Glassdoor. Making interview improvements might just be that next big step to putting together an elite team and obtaining a competitive advantage within your industry.
Investing in an Interview Intelligence platform can give you the tools needed to obtain a competitive advantage in the hiring arena. With the right solution, you can create a positive, meaningful experience for candidates during interviews while also ensuring equity in candidate assessment.
A robust interview intelligence platform will offer guided interview questions that enable you to best measure a candidate’s potential. It will uncover the best candidates using a combination of I/O competency questions as well as work culture questions to evaluate overall fit to the position. Managers can review recordings of their staff’s interviews to develop personalized training plans that keep interviewers at the top of their game.
The collaboration tools of an interview software solution improve the efficiency of your interview process by enabling all hiring team members to create and send highlight reels of key interview moments to speed up the candidate evaluation process. The best interview intelligence platforms use technology that employees are already using and candidates are already familiar with. The more comfortable and psychologically safe they feel, the more interviewers will be able to uncover the candidates’ full potential in the role.
Download our ebook today to learn more about how intelligent interview software is transforming the candidate experience and how Clovers technology can give your business a competitive advantage in the recruiting space. Or, Try for free for 30 days