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! Formula for a Great Candidate Experience Chris Hoyt – PepsiCo Elaine Orler – Talent Board ?
!
Formula for a Great Candidate Experience
Chris Hoyt – PepsiCo Elaine Orler – Talent Board
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www.thecandes.org
Talent BoardA non-profit organization
The mission of the Talent Board is to facilitate the evolution of the employment candidate experience principally through the annual production of The Candidate Experience Awards.
The CandE Awards is a free, annual competition process where:
1. Employers have the opportunity to benchmark their candidate experience against other companies.
2. Employers have the opportunity to participate in a 3rd party survey of their candidates to see what their candidates really think of their process
3. The CandE Award process is a competition, but it is also designed to provide every organization that chooses to participate, confidential and specific feedback on how they can improve their candidate experience.
www.thecandes.org
2013 CandE Winners
LET’S TALK DATA….
www.thecandes.org
Under 50 50 - 100 100 - 200 200 or More0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
2011 Results 2012 Results 2013 Results
Employer Applicant ManagementApplicant to Position Ratio 2011 - 2013
www.thecandes.org
Talent Acquisition TechnologyExperience based Solutions
Applicant Tracking Sys-
tems
Background Verification
Providers
Job Distribution
Services
Employer Branding Services
Sourcing/Mining So-
lutions
Assessment/Testing
Providers
Social Media Services
Onboarding Solutions
Mobile Services
Reference Checking Providers
Candidate Re-lationship
Management Systems
Video In-terviewing Solutions
0%
20%
40%
60%
80%
100%
Yes Considering for 2014
www.thecandes.org
Employer Disposition
N o C o n t a c t R e q u i r e d A u t o m a t e d m e s s a g e w i t h o u t s p e c i fi c
d e t a i l s .
R e c r u i t e r c o m m u n i -c a ti o n - N o t R e q u i r e d
b u t e n c o u r a g e d
R e c r u i t e r c o m m u n i c a -ti o n - R e q u i r e d b u t l i m i t e d t o s t a n d a r d
s c r i p t .
R e c r u i t e r c o m m u n i -c a ti o n - R e q u i r e d
w i t h d e t a i l s a n d s u p -p o r t a ti v e r e a s o n s
O t h e r
2.40
%
22.0
0%
36.6
0%
19.5
0%
14.6
0%
4.90
%
1.30
%
16.5
0%
58.2
0%
8.90
%
7.60
%
7.50
%
6.30
%
28.1
0%
15.6
0%
32.8
0%
17.2
0%
0.00
%
2011 2012 2013
How would you characterize the communication that takes place
between your company/ recruiter and candidates who submitted
'QUALIFIED' applications- but who are NOT included among the 'Finalists'?
MORE ABOUT THEM – THE CANDIDATES
Intership
Hourly W
age
A salary
entry-le
vel
A salary
experie
nced professi
onal
A management p
osition
A senior le
adership positi
on0.00%
10.00%20.00%30.00%40.00%50.00%60.00%
My Candidate Experience Overall (Based on Applicant type)
I had a great candidate experience and will definitely increase my purchase power.My candidate experience was pretty good and I'll likely to maintain my customer status.I had a negative candidate experience and will definitely take my purchase power somewhere else.
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
My Candidate Experience Overall (Based on Generational status)
www.thecandes.org
Intership
Hourly Wage
A salary entry-level
A salary experienced professional
A management position
A senior leadership position
0.00%
50.00%
100.00%
CareerBuilder
Glassdoor
Google+
Indeed.com
Monster.com
Candidate Job Search Behavior by position type
www.thecandes.org
The Silent Generation(born in or before 1945)
Baby Boomer Generation (born between 1946 - 1964)
Generation X (born between 1965 - 1981)
Millennial Generation (born between 1982 - 1995)
Generation Z (born in or after 1996)
0.00%
50.00%
100.00%
CareerBuilder
Glassdoor
Google+
Indeed.com
Monster.com
Candidate Job Search Behaviorby Generation
Candidate EngagementExperience - Communicated/Shared
2012: 59%
2012: 48%
2012:15%
2012: 23%
Inner Circle
Social Media
82.3%
64.4%
50.5%
32%
www.thecandes.org
1,000,000 Applicants per year
10,000 Hires per year
990,000 Rejections per year
How you communicate:“Your good enough to be a customer but not good enough to work
here.” Has a serious impact on the bottom line.
www.thecandes.org
8% 7% 6% 5% 4% 3% 2%
$1,584,000
$1,386,000
$1,188,000
$990,000
$792,000
$594,000
$396,000
Customer Revenue Impact Model Minimizing Candidate Resentment
Each % decrease yields $200,000 in
annual benefit
Candidate Resentment Rate = The Candidate’s experience as an applicant generated resentment which led them to stop buying products and they shared their experience with friends and family.Estimating the cost of candidate resentmentAssumptions:
1. 100% of the people that apply are customers
2. Annual hires = 5000
3. Applicants per hire = 100
4. Rejected applicants per hire = 99
5. Annual rejected applicants = 99 x 5000 = 495,000
6. Negative resonance factor = candidate tells 1 person
7. Total rejected candidate audience = 495,000 x 2 = 990,000
8. Average value of a customer = $20 per year
9. @ 8% candidate resentment rate
10. Lost customers = 8% x 990,000 = 79,200
11. Lost revenue @8% = 79,200 x $20 = $1,584,000
www.thecandes.org
Thank You!
2013 Benchmark Report http://bit.ly/cande13
2014 NAM Candidate Experience Benchmark and AwardsApply for the 2014 CandEs:http://bit.ly/2014CandEApply
Elaine Orler Talent Function &
Talent [email protected]
Twitter|LinkedIn|Facebook (@elaineorler)
Chris HoytDirector, Global Talent
Engagement & [email protected]
Twitter (@therecruiterguy) LinkedIn (chrishoyt)
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