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Why CandE Matters: The Business Case for Investing in a Great Candidate Experience




Introduction


When a candidate walks out of a company after an interview, the only memory that stays is how you made them feel in the past several days. Their brain forms an impression about your company based on the interactions they had. Candidate experience is the feeling a job seeker has about a company from the first interaction to the final decision.

In today’s competitive job market, candidate experience has become a critical component for organizations to attract and hire top talent. The new-gen workforce and their perception of work-life balance are creating revolutionary changes in the HR industry. They aren’t seeking a job, but a company with values. It is an absolute need to give a positive candidate experience, irrespective of the interview’s outcome.


Why Invest in Candidate Experience?


The obvious benefit of good candidate experience is attracting suitable candidates. But there are other tangible and intangible benefits which can draw many benefits at the brand-level. Let’s discuss some of creating a positive candidate experience:


Reducing Recruitment Cost


A positive candidate’s experience reduces recruitment costs for a company. Candidates refer to their friends and ex-colleagues when they enjoy a good recruitment process. This results in a pool of qualified candidates, reducing the labour hours spent in candidate sourcing and outreach. Also, referrals stay longer at the company, deliver higher productivity, and show more loyalty.

By reducing the number of candidates that drop out of the recruitment process, a company can save money and resources in the long run. If your company provides a great candidate experience, you will end up attracting a large pool of qualified candidates whilst reducing the need for extensive recruitment efforts.


Competitive Advantage


Recruitment is the dog-eat-dog industry. You have to be first in reaching out to a candidate, delivering an exceptional interview experience and offering an enticing offer. In such a competitive job market, a positive candidate experience goes a long way. When candidates have a positive experience with a company’s recruitment process, they are more likely to accept a job offer, even if it’s slightly lower than other companies’ offers. Even if they decline the offer, they leave a positive online review, which could cause more qualified candidates.

Attracting Top Talent


Top talents bring in business positively affect your revenue and help you achieve your business goals. They lay the foundation, design systems, and scale your growth as well. Attracting top-notch talent is one of the key strategies that increases your efficiency of the deliverables. However, such candidates with exemplary skill sets also put quality over quantity. A good paycheck is always tempting to them, but they will easily choose a company that offers less if they had an unsettling experience in the interview. When you lose such industry-leading talents out of unhinged experiences, it is a hard bite on your recruitment budget.


Brand Reputation


An underrated and overlooked benefit. Candidates, equally like customers, have a high power in controlling your brand reputation in the market.

When you curate and deliver a wonderful experience, your company’s brand reputation goes up. If you show you care, it sends a positive signal about your good work culture. Candidates continue to talk about you and their interview experience, and that word of mouth builds a strong brand outlook on the market. Most of the customers avidly do business with brands of positive work culture.


Conclusion


In conclusion, investing in candidate experience is an essential step that every company should take to attract and keep top talent. A positive candidate’s experience not only benefits a company’s recruitment efforts, but also its overall brand image in the market. Remember, the candidate experience is not just about providing a great interview experience; it’s about creating a positive impression throughout the recruitment process. So, it’s time to pay attention to candidate experience and take it seriously to leverage the benefits it offers.






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