#firmday london 2nd november the impact of informed candidates (and how to attract them) - joe...
TRANSCRIPT
Joe Wiggins, Director, EMEA, Glassdoor
The Impact of Informed Candidates (and How to Attract Them)
Our world is evolving.
Always on
and hyper
connected
Shared/Networked Economy
The WorkforceMore Connected
The HR ProfessionalTalent Nurturer
Informed CandidateWell-Researched, Purpose-Driven
What is an informed candidate?
An informed candidateis a quality candidate.
Characteristicsof an informed candidate
• Prepared for interview
• Knowledgeable about the job role
• Familiar with culture and values
• Right expectations about
compensation and benefits
Candidates Engage with
Glassdoor at Every Stage
of the Job Search
Source: 1 As measured by cost-per-hire and application-to-hire ration, compared to other job sites based on a study of 2015 hiring data for 30
million applications
1
An informed candidate is
highly engaged, well-researched,
and has the right expectations.
Interviewingan informed candidate
• Improved candidate experience
• Reduced time to hire
• Improved hiring manage
satisfaction
• Reduced number of interviews
per candidate
Hiringan informed candidate
• Better employee retention
• More productive employee
• More engaged employee
• Better team player
Challenges in attracting informed candidates.
Biggest Challenges Attracting and Hiring
0
10
20
30
40
50
60
70
80
Quality Budgetconstraints
Competingpay
Where toadvertise
Millenials
Challenge
Significant Barrier
Reputation andemployer brand are common
hurdles.
Investment in Employer Brand
Increase
No Change
Decrease
Expected Change
in Next 12 Months
35%
3%
63%
How to attract an informed candidate.
What Candidates Are Looking for in a Job
Core elements
• Salary
• Benefits
• Pension
Non-financial elements
• Work-life balance
• Career advancement
• Time off
• Flex time
• Commute
Millennialswant an employer with a conscience
• Prepared to quit a job based on
principle
• Advocate support for communities
• Important that employers take a
stand on social and political issues
Work is a Lifestyle Brand
Engage withyour audience.
Job Seekers Want to HearEveryone’s Perspective
Source: Edelman Global Trust Barometer Survey, 2015
Although friends and family are still the most trusted source (72%),
content provided by employees is the
#2 most trusted source of information on a company.
Transparencybuilds employer brand
• 62% feel better about a company
that responds to reviews
• 70% are more likely to apply when
an employer brand is managed
• 90% find the employer perspective
useful in job search
“The balance of power has shifted from
employer to employee, forcing business
leaders to learn how to build an
organization
that engages employees as sensitive,
passionate, creative contributors.”
Josh Bersin, Principal, Founder, Bersin by Deloitte
Investment in Engaging Employees
Increase
No Change
Decrease
Expected Change
in Next 12 Months
39%
3%
58%
Informed Candidates head for the best employers.
The Job Seeker Journey
Network
Seek Job
Listings
Research
Salaries
Interview
Research
Company
Network
Life Event
Life Need
Out of the Blue
Leavers Gravitate to Better Companies
Source: Glassdoor Economic Research (Glassdoor.com/research)
Average Glassdoor Ratings (External Movers Only)
2.80 2.90 3.00 3.10 3.20 3.30
Overall Rating
Career Opportunities Rating
Compensation and Benefits Rating
Culture and Values Rating
Work-Life Balance Rating
Senior Management Rating
Original Job
New Job
When people leave it’s
usually for better culture.
Culture Matters for Employee Retention
0%
1%
1%
2%
2%
3%
3%
4%
4%
5%
5%
Overall EmployerRating
Career OpportunitiesRating
Culture and ValuesRating
Pro
babili
ty E
mplo
yee
Will
Sta
y
Impact of a 1-Star
Ratings Increase
on the Probability an
Employee Will Stay
Statistically significant.
Source: Glassdoor Economic Research
(Glassdoor.com/research)
5%* 5%*
4%*
Company culture is second only to salary
in terms of influence on a candidate’s
decision to join your organisation.
Key TakeawaysTech
Transparency
Informed Candidates
Employer Brand &
Engagement
Culture
Thank You
Joe WigginsDirector, EMEA, Glassdoor