Do we really need a candidate experience ROI? Everyone knows by now that providing a positive candidate experience is the right thing to do. Candidates expect consumer quality online experiences these days. Why shouldn’t they? And of your online experience comes up short, it reflects on your company and employer brand.
But what’s the hard cost of bad candidate experience? Or put another way, how much can you gain by improving your candidate experience?
Talemetry, a leading provider of career site and apply solutions, recently published some hard ROI metrics for measuring the ROI of candidate experience. It’s a must-read for anyone interested in recruiting strategies.
The article details three main areas for increasing the ROI of your candidate experience:
- Candidate conversion. The conversion rate of online visitors to applicants
- Employer brand. The effect of candidate experience on brand and the effect of brand on cost per hire.
- Lost sales. The potential for lost sales when candidates who are customers either take their business elsewhere and/or tell their friends not to patronize your business.
The potential for increased ROI is impressive. In just one example, increasing the candidate conversion rate can result in over $200,000 in savings.
Of course you can’t manage what you can’t measure what you can’t measure. Survale provides an automatic way to measure your candidate experience and manage improvements that can result in significant improvements in hiring effectiveness and efficiency. For more information about Survale candidate satisfaction solutions, click here.