A report recently undertaken by employer brand agency Ph.Attraction has shown that giving candidates a good experience through the recruitment process can impact the bottom line, not just the talent that is being attracted.

The report shows that brands which do not invest in giving potential employees a good candidate experience risk losing these individuals as customers.

Most notably, the report shows that Virgin Media lost £4.4m in revenue in 2014 due to poor candidate experience. Over 130,000 candidates applied to work at the company in 2014, 18% of which were existing Virgin Media customers. As a direct result of their candidate experience, more than 7,500 of these candidates cancelled their subscriptions and moved to a competitor. Virgin Media has since brought on board an Employer Brand and Marketing Manager and changed their recruitment process.

We have covered the importance of creating a strong employer brand in numerous articles. It has a huge impact on the level of talent that businesses attract and the success of a placement. The commercial implications are also important to consider. Becoming a destination employer has far-reaching benefits and the power of creating a positive candidate experience, whether or not the individual ends up working for your organisation, can have a real impact on the success of a brand and achieving competitive advantage. The report also shows that nearly a third of candidates would consider becoming a customer of a brand if they had a positive experience through the recruitment process.

tml Partners – specialists in marketing recruitment. 

Source:

https://www.marketingweek.com/2016/10/14/bad-recruitment-experiences-could-cost-brands-millions-in-lost-customers/