The millennial generation is now entering employment in vast numbers and will largely shape the world of work for years to come. Being able to attract the most talented of these workers is critical to the future of any business.
For a large part, their career aspirations, knowledge and familiarity of new technology, as well as their attitude towards work will define the culture within the 21st century workplace.
As a result, accountancy giant KPMG has changed its graduate recruitment process in order to suit the millennial generation’s needs. Instead of conducting three different assessments over a few weeks, the firm will now combine the whole process into one day.
Length of the recruitment process
According to the firm, the change – which was made following research which concluded that millennials were frustrated by the length of recruitment processes – will mean candidates will be able to find out if they have got the job within two working days.
The survey by KPMG, which was conducted with 400 new graduates applying for a job at the UK firm, found that over one-third were frustrated by how long they had to wait to hear whether they had been successful or not after an interview.
However, the biggest complaint, made by over half of those that were surveyed, was that they did not receive any feedback if they were unsuccessful.
An additional reason behind the changes, according to KPMG chairman, Simon Collins, was that the company felt they were necessary in order to compete against smaller start-up or technology firms, who can often employ a must faster recruitment process, securing the best graduate talent.
Attract more diverse talent
The accountancy firm’s change to their recruitment process comes after several other firms have shaken up their own processes. US investment bank Goldman Sachs has scrapped face-to-face interviews on university campuses in an attempt to attract more diverse talent.
As a result the bank now utilises video interviews with initial undergraduate candidates, in an attempt to help attract and recruit from a broader range of disciplines.
Professional services firm Deloitte has changed its selection process too so that recruiters no longer know where candidates have attended university or school – an attempt to prevent any unconscious bias.
It seems employers are working much harder to try and understand the generation and also appeal to their needs. Millennials are set to make up 75% of the global workforce by the year 2025, which means companies need to adapt quickly.
If you’re an employer looking to attract the best graduate talent, find out how Discovery Graduates can help