Phenom People releases fourth annual State of Candidate Experience: 2020 Benchmarks
Phenom People, the global leader in Talent Experience Management (TXM), announced the release of its fourth annual digital candidate experience report, The State of Candidate Experience: 2020 Benchmarks. The data analyzes and ranks the Fortune 500 based on how they attract, engage and convert job seekers.
With the national unemployment rate at 3.6%—its lowest in nearly 50 years—candidates are driving the market. Employers are searching for best-fit candidates from the same talent pool, regardless of industry. To gain a competitive advantage, a highly satisfying and interactive candidate experience is essential. Organizations that do not deliver a personalized candidate experience are at risk of losing top talent to competitors, jeopardizing company growth. This report provides insights as to where employers are meeting job seeker expectations on career sites.
In addition to exposing the current state of the digital candidate experience, the report evaluates how artificial intelligence (AI) is incorporated. AI and machine learning help candidates find the right jobs faster by enhancing their experience in three areas: personalization, search and insights. Despite the industry focus on AI, 97% of the Fortune 500 scored poorly when it comes to implementing this technology on company career sites.
“Employers must stop neglecting their candidate experiences. Talent acquisition teams are just as responsible as other departments for improving the bottom line,” said Mahe Bayireddi, CEO and co-founder at Phenom People. “When the candidate experience is less than phenomenal, a negative chain reaction occurs—recruiters struggle to fill jobs, employee evolution is restricted, and the customer experience suffers. The findings from this report should encourage employers to optimize their career sites to help candidates find the right job, and recruiters the right talent.”
This research underscores the strengths and weaknesses of the Fortune 500 candidate experiences. Companies scored the lowest in utilizing artificial intelligence, delivering job recommendations and offering a chatbot. Conversely, companies scored the highest in fast web page load time, responsive site design and maintaining up to date job postings on job boards.
Phenom People delivers Talent Experience Management, providing companies with a unified solution for: Candidate Experience (Career Site, CMS, University Recruiting, Chatbot), Recruiter Experience (CRM, Campaigns, SMS, AI Insights), Employee Experience (Internal Mobility, Diversity, Career Pathing, Referrals), and Management Experience (Talent Analytics, Succession, Reporting, Forecasting). The Phenom Talent Experience Management platform is built on artificial intelligence (AI), driving personalization, automation and accuracy for candidates, recruiters, employees and management. It eliminates multiple-point solutions, connects with quality candidates and employees through personalized experiences and delivers top talent while driving ROI.