Data and context the ‘missing pieces’ from Fortune 500 candidate experience, says Phenom
Phenom’s annual State of Candidate Experience report has found a large hole in Fortune 500 companies’ recruitment: the use of data and context to help candidates find the right role.
89% of Fortune 500 companies are not currently asking about skills to match candidates to the right job.
Phenom's latest candidate experience report highlights where firms still have work to do to improve talent acquisition processes.
The increasing adoption of AI and automation tools provide an opportunity to address existing gaps.
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Applicants to Fortune 500 companies are not getting the best experience in the recruitment process, with little to no personalization involved in the process.
The State of Candidate Experience: 2024 Benchmarks Report from technology provider Phenom, found that nearly nine in ten organizations counted among America’s top 500 do not ask about skills to match candidates with related job openings.
Neither do they provide job recommendations based on experience level or job titles (both recorded at 89%).
Meanwhile, a similar level (88%) do not offer job recommendations based upon a created profile.
These profiles comprise key information about skills and job history that can be matched with open positions.
Failing to capture and use such data means candidates may not be matched with the right role for their skills.
Speaking exclusively to UNLEASH about the report, Phenom Senior Director, Product Marketing John Harrington said the results should serve as a “wake up call” to HR leaders at Fortune 500 companies to “redefine the way they’re engaging talent.”
With data and context “appropriately leveraged”, Harrington says “organizations have the potential to create highly personalized candidate experiences.”
AI and automation could hold the key to personalized candidate journeys
While Phenom’s report highlighted where organizations still have work to do, it did record “year-on-year progress” in the adoption of AI, automation and talent marketing strategies.
This, in turn, will positively impact candidate experience, mostly evidenced through better communication and surfacing of available roles.
Phenom found an 80% increase in number of organizations that featured ‘dynamically curated content’ for vacancies.
This content could comprise the use of information about the company, open jobs, benefits, culture, employee testimonials and interview tips.
Meanwhile, there was a 76% increase in companies communicating a “clear employee value proposition” and a 68% increase in having a “clearly visible and accessible” button to apply for a role.
There were also increases in organizations using a chatbot to help candidates through the application process (36%), having multiple languages available tailored to specific locations (37%) and use of video content that featured employee testimonials (34%).
While progress is being made in some areas, Phenom noted that organizations that are able to bring all of these elements together into one cohesive experience will be able to attract more candidates across different channels.
With candidates typically using multiple recruitment and social media channels in their job search, this allows firms to engage candidates quicker.
The increased adoption of AI and other technologies will provide more opportunities for organizations to offer concise and targeted information to prospective applicants, with personalized touchpoints along every step of the journey.
“Ultimately, talent is being directed to the right work in the most fast and efficient way,” Harrington tells UNLEASH.
“When this approach is applied to every touchpoint on a candidate’s journey, it leads to better job-seeker experiences and higher-quality hires.”
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John Brazier is an experienced and award-winning B2B journalist and editor, with a strong track record of hosting conferences, webinars, roundtables and video products. He has a keen interest in emerging technologies within the HR space, as well as wellbeing and employee experience topics. Prior to joining UNLEASH, John both led and wrote for various global and domestic financial services publications, including COVER Magazine, The TRADE, and WatersTechnology.
Get in touch via email: john@unleash.ai