We live in an age of instant gratification. Thanks to advancements in technology we can shop, socialise and entertain ourselves at the touch of a button. No wonder millennials, who have grown up with constant technological evolution, are not the most patient age group.
Now major firms such as KPMG Accounting are adapting to the fast-paced way of doing things that millennials have come to expect, by streamlining their recruitment policies into a much faster process. In a survey carried out by KPMG, over a third of the 400 participants born between 1980 – 2000 stated that the lengthy application process annoyed them, and over half complained about getting little or no feedback following an interview. In response to this, KPMG has completely condensed their recruitment process, which used to include three separate assessments carried out over three weeks, into just one day. Even better, the hopeful candidates will discover their fate in two days.
Despite being a larger firm, KPMG is taking the approach of smaller startup firms who tend to have a far simpler and shorter recruitment process. In order to stay ahead of the game and recruit the very best graduate talent, KPMG has recognised that meeting the needs of prospective millennial employees is essential – and they’re not the only firm to do so.
Goldman Sachs, a banking firm who hire around 2500 graduates every summer, recently announced that it would be scrapping face-to-face interviews in favour of Skype ones. These online encounters are quicker and easier, therefore allowing the firm to greatly expand the volume of candidates it is able to screen. For candidates themselves, the process is more convenient and can often feel less nerve-wracking, although performing well and projecting personality via video link does come with its own challenges.
With the number of companies conducting interviews in this modern way set to rise, some universities are even offering specialist courses designed to teach students the best way to present themselves online, which, in the absence of body language and physical cues, is a very different experience.
Another accountancy firm rethinking its recruitment process is Deloitte, who are taking a ‘university blind’ approach, whereby they are not told which university their candidates graduated from. This is thought to prevent any unconscious bias or prejudgment. Not only is this a positive thing for students in lower socio-economic areas, but it can be beneficial to companies who desire a diverse and varied talent pool.
These forward-thinking changes in recruitment are a step away from traditional interview techniques. Some come with a new set of challenges, but overall they are designed to meet the needs of millennials living a fast-paced lifestyle in the modern world, while simultaneously allowing companies to hire quickly and secure the very best emerging talent before someone else does. Effective, prompt staffing is imperative for the long term success of any business, so this could be a mutually beneficial progression for employers and millennials alike.