Belong Executive Briefing (BEB) is our quest to bring the community together where they are because the future is localized and sans boundaries. And the quest took us on a tour this time that started in Singapore, Indonesia, Malaysia and went all the way to Mumbai, Hyderabad, and Gurgaon.
We had CHROs, Vice President HRs, Senior Directors, Chief Talent Officers, and Head of TAs from Fortune 500 companies like Deloitte, PepsiCo, Philips, NOKIA, Infosys, HSBS, Ernst & Young et al in attendance at the events.
It was enthralling to have ~100 leaders from 80+ organizations and discuss the evolution of candidate experience.
The elephant in the room: Candidate Experience
In our previous discussions at BEBs, there was a unanimous agreement amongst the community leaders that the talent owns the narrative right now. In the war of talent, the talent has won.
After months of research and analyzing Belong’s data & our experience with clients, it was clear that the future belongs to the candidates and a company’s brand is largely dependent on the candidate experience it offers.
Ergo, all the BEBs were focused on the central theme.
We found a recent research by IBM that offers great insights around what has changed and what impacts candidate experience. Another research by Harvard Business Review suggests that Candidate Experience is the nerve center of Talent Attraction & the future of HR.
It is clear that the companies have to overhaul their recruitment and hiring blueprints.
Here are our key takeaways from the discussion -
1. Candidate experience is a key metric to focus on. There is a huge imbalance in the demand and availability of talent. To leverage this imbalance, one needs to focus on personalization. About half (48%) of recent job candidates have had some manner of relationship or interaction with the hiring organization before applying and customization has played a key role there.
2. Over half (55%) had a positive impression of the hiring organization before they applied. Job applicants who do not receive a job offer are 80% more likely to apply again if they already had a positive impression of the hiring organization. Candidate Experience is a long-term brand recall and a self-nurturing referral system.
3. The role of recruiter and TA has evolved into more of a coach as well as a business advisor where they are expected to manage career aspirations of potential candidates while pushing hiring managers towards the best-fit talent available. All this while, they have to keep the constraints in mind with data at hand.
4. Regardless of whether they get a job offer, applicants who are satisfied with their candidate experience are more than twice as likely to recommend the hiring organization to others compared with those who were not satisfied (62% vs 28%). In fact, people who are satisfied with their candidate experiences are 38% more likely to accept a job offer.
The force behind the feat
All the events were hosted by our Chief Evangelist and VP of Marketing, Aadil Bandukwala and VP of Sales (APAC), Vivek Roy. They started off the morning conversations talking about the emergence of a new tech order in business.
There were conversations on how insight technologies, engagement technologies and the cloud are playing a path-breaking role in transforming the companies. They also walked everyone through the emergence of this new-age tech to build the business-critical talent of the future.
As all the BEBs were focused on candidate experience, we presented some crucial stats for the attendees with data on the recruitment scenario, the bottlenecks, and what are we doing to change the scenario with Belong’s extended product portfolio.
As the event came to an end and conversations prospered, our guests were kind enough to share with us some fascinating sound bites around their experience and opinions.
We shall be releasing all the snippets on our social media handles shortly. Follow us on Twitter, Facebook, and LinkedIn to know more about this.
If you would like us to bring this to your city, give us a shoutout here!
If you’d like to know more about how Belong is helping the world’s most talent-focused companies drop us an email - we’d love to hear from you.
We are trying to get the community together and stronger so if you want to holler someone and don’t know how to go about that, we will be happy to help.
Let’s build the future of talent together, one brilliant experience at a time!