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Latest Employer News from GradSift

December 2020

 

What Employers Are Talking About at AAGE Round Tables

We attended some of the AAGE round table discussions and here is what employers were saying.

30% Candidate Renege Rates.

For large government and private sector employers, some of the offer renege rates were 30%. Typically, it reflected candidates pocketing an offer, while waiting to see how they progressed with other employers.

Lower Recruitment Budget Spending to Continue.

Most employers underspent their graduate recruitment budgets in 2020. That was a function of no travel, virtual interviews and assessments and cancelled career fairs. Yet, graduate recruiters did a fantastic job in still delivering positive recruitment outcomes. Management saw that. And they liked it. So the expectation for many, is that they’ll continue the virtual process for 2021. And bank the cost savings.

Pricing from Virtual Service Providers to Rise?

Covid brought a rapid shift to virtual technologies. In response, many suppliers offered special pricing to help employers in the transition. But moving into 2021, there’s talk of higher, normalised prices.

Decision-Making Pushed Back.

Most employers agreed that the decision-making process for 2021 recruitment is occurring much later. So if you’re feeling frustrated that your plans haven’t been signed off yet, you’re not alone.

Socio-Economic Diversity is Big.

Recruiters want to broaden the net. It’s all good to have most hires come from Big Eight universities. But we all know there are great students who haven’t had the same opportunities as others, maybe studying at a regional university, or working two or three jobs to pay their way. How do employers put processes in place to identify and shortlist these candidates and then convince hiring managers to interview them? You can read how two employers achieved this using GradSift in the Achieving Diversity Outcomes article.

Virtual Career Fairs – Will They be Worth It?

Pre-Covid a 40% solid minority of graduate employers rated career fairs as very effective. We have all experienced virtual events, from webinars to group meetings to conferences where the active participation rate varies. So what will student engagement be like at virtual career fairs? There’s a healthy level of scepticism among employers. Some have said they’re not participating. While others are fully committed. Traditional university career fairs are still up in the air. The AAGE’s Big Meet fairs are scheduled to proceed. GradConnection will launch its virtual career fairs with employer pricing of around $1,800. While Prosple has linked with some universities to provide free virtual career fairs.

Candidate Resilience

A recent IEAA survey of Australian university students found the number one challenge for students this year has been "remaining motivated". The survey also found that the Covid experience led to an increase in resilience. But that wasn't for everyone. There were employer stories of graduates responding unfavourably to on-the-fly changes to responsibilities as the organisation responded and adapted to the Covid situation. The question was asked, how do you find candidates with a natural, high level of resilience.

 

How To Reduce Video Watch Time by 70%

Recorded candidate video is used by two-thirds of graduate employers. It’s a time saver compared to the alternative of phone screening calls. But it’s a real pain when the recruiter has to watch 500, or even 800 videos. In fact, at up to 50 hours it’s almost torture!


Why does it take so long?

It starts before the video interview, when employers use an abilities test to initially screen candidates. Cognitive ability is one measure. But we all know that doesn’t correlate to communication or interpersonal skills, let alone the behaviours or experiences of candidates. So it’s a very mixed bag of candidates who reach video interview stage. And with up to 800 videos, recruiters naturally take short-cuts. Quickly rejecting candidates for an “unprofessional” messy bedroom in the background, or a clearly scripted response, or an instant assessment that they just won’t be a fit with the organisation.

It’s not just the volume of videos that makes it time consuming. Recruiters are assessing for multiple behavioural skills from the different questions. That takes time. And it’s on top of assessing the candidate’s verbal communication and interest in the organisation.

So how do you reduce video watch time by 70%?

Use GradSift instead of a traditional video interview platform. GradSift ranks candidates based on their behaviours and experiences. You can then watch video starting with the best candidates until you’ve reached the targeted shortlist numbers.

800 videos and the target is to progress 200? You might need to watch 240 to finalise the 200. That’s a 70% saving, or 35 hours of a recruiter’s life back!

Of course, GradSift technology makes this really easy to do.

If you do cognitive testing upfront to reduce say 2,000 applicants to 800, continue to do that.

But replace the traditional video interview step with GradSift. GradSift enables you to set your own criteria to rank the 800 in seconds. Importantly, GradSift has assessed candidates on behaviours, work and extra-curricular experiences and their academic performance, in addition to employer set criteria.

Now, it’s just watching video of the best candidates. It’s a massive time saver and at a very low cost.

 

Going Back to Graduate Recruitment Basics - Case Study

 

For their 2021 hires, one large employer went back to basics this year. (No, they didn’t use GradSift).

Over the last couple of years, their program achieved disappointing results, falling short on both volume and quality of hires. So, they decided to go back to the basics.

What did they do?

Firstly, they scrapped upfront testing. It’s well known that cognitive abilities testing dismisses a lot of strong candidates. In fact, Australian research has shown that 50% of rejected candidates have the interpersonal skills employers crave. But it meant the employer reviewed resumes manually, which was time consuming.

For the next stage, instead of recorded candidate video, they did virtual, two-way interviews. Again that was time intensive but it enabled the employer to “sell” the organisation to the candidates. This proved to be very important in their process.

They followed that with assessment centres, which were virtual because of Covid.

The result was overwhelmingly positive. Why?

Focusing on a candidate’s full background based on their resume and application, meant well-balanced candidates progressed to the virtual interview stage. The two-way interview allowed dialogue between candidate and employer, enabling the employer to promote career paths within the organisation.

Yes, the downside was the huge time commitment. But they were delighted with the outcome.

 

Achieving Diversity Outcomes


Here are two example of how employers have successfully increased the diversity of graduate hires.

Case One

Prior to using GradSift, this ASX listed company followed a process whereby HR screened candidates and presented hiring manager with a shortlist of resumes. However, bias was evident where some managers progressed with candidates from “preferred universities" or "preferred background”.

The objective in using GradSift was to improve diversity and streamline the recruitment process.

Using GradSift, HR was able to create a unique search profile for each role. This automatically generated a screened ranking of candidates who met their criteria. This alone saved HR an enormous amount of time.

From the rankings, HR shortlisted candidates. Managers were given the candidate’s resume and the GradSift ranking report highlighting overall academics, work experience and extra-curricular achievements. The latter was a new insight for managers who used both sets of data to choose who they would interview.

The results?

Greater diversity in hires. “Each application was evaluated objectively and without bias”(HR). “I would never have considered that candidate before” (Hiring Manager). In addition, it was a massive time and cost saver.

Case Two

A leading government department wanted to broaden the socio economic diversity of their graduates. Their typical applicant possessed “a dual degree from a big eight university”. That was fine but they wanted to ensure that candidates from more diverse backgrounds were actively considered throughout their assessment process.

They replaced cognitive abilities testing with GradSift as their initial assessment step. Firstly, it enabled them to assess candidates for the personal attributes and experiences that the Department valued. Then they used GradSift to identify candidates from the non-major universities. This included candidate rankings by academics, work experience and achievements. It meant they could easily assess and shortlist the top performers from non-major universities to progress to the next assessment stage. All of this was done in minutes.

The results?

“Larger diversity of shortlisted candidates progressing through all recruitment stages including hires”. And the bonus, “significantly cheaper per candidate than cognitive testing”.

 

Can Our RPO Provider Use GradSift?

 

The answer is definitely yes.

We have a lot of employers who like GradSift but are tied to an outsource provider for graduate recruitment. We’ve only had positive feedback from RPOs who have seen GradSift. They understand the time and cost savings GradSift brings. They also recognise how it assesses candidates objectively and without bias, which promotes candidate diversity.

Conversely some employers have now changed how they use their outsource provider. Screening and shortlisting is the most time consuming part of graduate recruitment, which is where an external provider adds value. But because GradSift makes that so easy, employers have brought that process inhouse, reducing costs by an average of 40%. They still use the provider to run their assessment centres.

 

 

 

 

 

 

 

 

 

 

 

 

 

Time to Schedule a GradSift Demo

 

It’s that time of year when many graduate employers are busy planning their recruitment and assessment activities for 2021.

 

You need to add a GradSift demo to your schedule. Go through a live demo, ask as many questions as you like. Of course, what's the price? At the end, if you think GradSift might work for you, you can really Put GradSift to the Test.

How? You provide us with 20 resumes of your recent applicants, with personal details removed. Make it a mix of hired candidates, some who got close and others who were rejected early. Even throw in a few outliers if you like!

We process the data through GradSift. And give you back the results. You decide! You can even do that without the demo.

 

And if you just want to know how much GradSift costs, send an email with the number of candidates you receive for your program. We'll let you know. peter@gradsift.com

 

 

 

 

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