Big business ‘risks missing out on best talent’

ONEROUS recruitment processes and poor communication by businesses are leaving millennials disillusioned and frustrated when applying for graduate jobs, warns new research.

KPMG and independent market research company High Fliers Research surveyed more than 400 new graduates and asked them about their experience of applying for a graduate job.

The results make grim reading for businesses, with millennials frustrated by lengthy recruitment processes (34%) and poor communication from their potential employer (43%), with over half complaining they never received any feedback when applying for a role.

This frustration could impact big business’ future ability to attract talent, with graduates opting out of traditional job schemes in favour of roles in smaller companies, which are more in line with their personal passions and interests and offer a faster and simpler recruitment process.

Jon Holt, office senior partner at KPMG in Manchester, said:  “Millennials don’t want to navigate a cumbersome and convoluted recruitment process when applying for a job and this is something we as business leaders need to understand and address.

“Graduates have given us some hard hitting, but really useful feedback and we’re using this to overhaul how we recruit. From now on a candidate’s final interviews and assessments will take place over the course of just one day and we will make them an offer or give feedback explaining why they were not successful within two working days.”

Following in depth discussions with current and prospective graduates, KPMG has introduced Launch Pad, a new streamlined approach which combines the traditional three stages of first interview, assessment centre and final interview into a single day.
 
Students will also get the chance to gain new skills, network with existing KPMG staff and partners, as well as their peers.  KPMG is the only Big Four professional services firm to offer this type of graduate recruitment process.
 
Holt added: “Millennials no longer feel the need to play it safe and most are now equally happy to work for a start-up or tech firm as they are a large traditional employer.
 
“We are competing with the full gamut for the best brains and talent leaving university: getting our graduate recruitment right is crucial to the long term success of our business.”