If you are looking for a job, there are basically 2 options: use your network or apply to jobs online.
By using your network to find a job, we mean approaching professionals you know for a job or for an introduction to their company, including of course contacting specialised recruiter(s) in your network. If you do not have a good network, start working on developing it now, using LinkedIn or attending conventions or conferences for example. This may be extremely useful if you are planning a change of career in the future.
The second option is applying to jobs online, via job portals or directly on the firm’s career website. In this article, we ask ourselves if job boards are any efficient at all?
We have made ourselves a little test, using one of our recruitment consultants to apply to recruitment jobs online and assess the results. And the outcome was worse than what we ever thought it would be!
We made sure the jobs targeted were in line with the recruitment consultant own experience (Recruitment, Finance, 5 years’ experience). Out of 50 applications, we only received 6 answers, which means a 12% response rate for an industry (the Financial Services) which pride itself in hiring the best and having the most efficient recruitment programs in place.
Only 2 answers came in less than 10 days. One of the answers came 46 days after the application made by our consultant! In a Talent Management strategy, priority should always be given to offering a quick response, being negative or positive, to the candidate. Candidate experience is everything, because if you don’t deliver on this, not only you will lose potential candidates/future employees, but you will also damage your brand image for them and their network.
A lot of company specify on the job advert that they will only answer to the successful applicants if retained in their short-list, but we believe this is just an easy escape and it would do more good to the brand to answer than just leave the candidates in the unknown. Everyone who has posted a job online, on reed, indeed, LinkedIn or other job portal, will have received a huge number of applications which are not at all in line with the job requirements. When we post about a job for an actuary, we have more than often received applications from a Pharma project manager with 18 years’ experience or even one day from a zoo keeper. Or we ask for a specific language, and people from all over the world without the right qualifications or language send us their Cv… A quick look on the job ad would have told these people straight away: “Do Not apply, this is not for you!”.
But we also receive applications from professionals with an actuarial background and if they do not fit with this particular job requirements, we will always let them know they were not successful and thank them for their interest. It’s part of what we call a candidate experience. And it only takes a few seconds.
Unfortunately with our test, we see this is not happening. And the companies we applied to are some of the strongest Audit, Insurance and banking firms.
Out of the 6 answers we got, 3 of these were negative, despite the job specifications and the applicants skills matching to perfection. No feedback was ever given, leaving the candidate with a rather confused mind. Did they really look at the CV? Is this a “fake” advert because they went for someone internally? Is my Cv just not adapted to the market? It leaves more questions than answers for the candidate.
What we learned from our experiment is that Job boards are obsolete. At least how they are done now. The future surely lays in developing more niche job boards where very candidate or client is vetted prior to admission to the job board. A bit like a closed network.
We also learned that the recruitment consultants have a strong and promising future, if they keep focusing on the candidate experience, a thing a lot of internal recruiters have somehow forgotten to provide.
Posted on Friday Nov 24