Stepstone study: Job seekers expect fast response from companies

EQS-Media / 25.10.2023 / 11:32 CET/CEST

Stepstone study: Job seekers expect fast response from companies

• Majority of jobseekers expect feedback within one week
• Change in the labor market slows down HR managers
• Utilizing artificial intelligence and automation in recruitment practices could save HR managers at least 10 hours a week

Düsseldorf, October 25, 2023 - Companies could score big points with applicants if they act fast, but they are still far too slow due to a lack of automation. This is the result of the study "The State of Recruitment and Automation" by The Stepstone Group, for which the global recruiting platform surveyed around 550 HR managers and 3,700 candidates in September 2023. According to the survey, 61 percent of applicants expect companies to provide initial feedback and commence next steps on their application within one week. But the majority wait in vain.

Companies need to be fast
According to the results, the speed of the application process has a direct impact on the attractiveness of the potential employer: Two-thirds of employees surveyed would be more likely to choose a company if their hiring process is fast and straightforward. As many as 79 percent of respondents said that the quality of the application process had become more important to them in recent years. Almost as many (75 percent) believe they can draw conclusions about a company’s corporate culture from their hiring process. And for 63 percent, the application process reflects how technology-savvy a potential new employer is.

Job seekers have a choice
"The labor market is now an employee market - the current economic uncertainties have not changed this so far. Job seekers are appropriately confident and their expectations of the hiring process are high. Applicants want it to be simple, reliable and they want a personal interview quickly," says Dr. Tobias Zimmermann, labor market expert at The Stepstone Group. "The application process is increasingly tipping the scales when it comes to deciding for or against a new employer. Those who have several good options will, in case of doubt, opt for the company that responds the fastest," Zimmermann emphasizes.

HR departments are overloaded
But many HR managers are groaning: according to the study, more than six out of ten recruiters (62 percent) have to fill more positions today than in previous years. At the same time, this task has become more difficult: The vast majority of HR managers (89 percent) feel the increasing competition for skilled workers. Eight out of ten (81 percent) currently need longer than in previous years to fill a vacancy. Nearly two-thirds (65 percent) complain that the amount of work exceeds their resources. "The situation in the labor market has changed. It is a challenge for companies and their processes to keep up with these changes," says Zimmermann. "What is clear, however, is that the demands of applicants will remain. Companies must therefore find ways to speed up their application processes and support their recruiters."

Ten hours less work per week through automation
According to the results of the study, HR managers could save at least ten hours of work time per week in recruiting if they automated manual activities. For example, 86 percent of them still sift through all application documents completely manually, and 80 percent formulate their job advertisements in the conventional way. Almost three out of four recruiters (74 percent) check by hand whether the application documents are complete.

"Many recruiting tasks are becoming easier to automate without compromising quality. This makes companies faster and gives recruiters more time for what's important: personal interaction with candidates," says Zimmermann. "While hiring decisions will ultimately remain in the hands of humans, incorporating AI in the initial stages of recruitment can speed up the process for HR managers, aiding companies in meeting candidate expectations."

About the study "The State of Recruitment and Automation"
In times of the great people shortage, companies are more dependent than ever on finding innovative approaches to succeed in the competition for the best talent. But how can we make the application process more efficient and improve the candidate experience? In September 2023, The Stepstone Group surveyed approximately 550 hiring managers and 3,700 candidates about tech and automation in recruiting. The sample of candidates is representative of the German workforce by age and gender.

About The Stepstone Group
The Stepstone Group is a leading global digital recruitment platform that connects companies with the right talent and helps people find the right job. The Stepstone Group connects more than 110 million job applications with over 140,000 employers every year. With its integrated platforms, The Stepstone Group simplifies the candidates job search as well supporting recruiters with AI-powered solutions for the entire recruitment process. In 2022, The Stepstone Group generated revenue of around €1 billion. The Stepstone Group operates in more than 30 countries - including Stepstone in Germany, Appcast in the USA and Totaljobs in the UK. The company is headquartered in Düsseldorf, Germany and employs around 4,000 people worldwide. For more information: https://www.thestepstonegroup.com/en/

Contact
The Stepstone Group Press Team
press@thestepstonegroup.com

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Language:

English

Company:

The Stepstone Group

Völklinger Straße 1

40219 Düsseldorf

Germany

Internet:

https://www.thestepstonegroup.com/de/

EQS News ID:

1757199

End of News

EQS Media

1757199 25.10.2023 CET/CEST