You’ve heard it so many times, to keep up with the competition you need to employ a candidate-centric approach and pay attention to your candidate experience. But, offering a good experience to your candidates is much more. We believe it’s important to get a good return for your investment, yet so many companies still don’t pay attention to this vital area.
The ROI on creating your outstanding candidate experience
Looking at the ROI (return on investment) on good candidate experience, what value does your company get out of it:
More positive referrals create a stronger employer brand
The better the candidate experience, the more likely someone will reapply for a position with your company, or tell others about it. Companies with strong employer brands have lower turnover rates. You can read more about the link between candidate experience and employer brand in our previous blog.
Higher conversion rate
Your candidate experience speaks volumes about your employer brand. Every candidate’s experience, whether successful or not, should be the same positive encounter for everyone.
A positive experience means that even unsuccessful candidates will feel like they’re valued, and will be less likely to walk away with a feeling of negativity towards your company.
Also, making the online application process more attractive and functional feeds into a good candidate experience. In turn, this leads to a higher conversion of applications on your career page.
Every company wants to hire top talent. After all, it’s all about raising the benchmarks of your service and products to the highest level. By creating a streamlined, positive candidate experience, you’ll attract the right candidates, and hire them efficiently and quickly, saving time and money.
More quality applications
Having a good candidate experience that is authentic, increases your quality applications because your candidates know what to expect from the start. You’ll be attracting candidates that fit your company culture, and in turn, getting the right candidates for your position quickly.
Increase in sales
If you’ve had a negative experience with a business, you’re less likely to recommend them or purchase items from them. The same extends to a negative candidate experience – those candidates are less likely to buy from or recommend a company that they’ve had a poor candidate experience with. Positive experiences bring the opposite effect, boosting sales and the company profile.
In fact, 69% of candidates are more likely to buy from a company if they were treated with respect during their application process.
Are you unsure whether you offer the right experience to your candidates? And, get the value out of it you deserve? Our in-depth Candidate Experience Assessment helps you to understand what your job candidates really think about their experience before you decide in which area to make a big investment to improve it.