The Big Four firm is set to scrap the multi-stage interview process for its graduate scheme after a survey of their incoming graduates revealed that arduous recruitment processes are deterring millennials from applying for roles in big businesses.
The research by KPMG and High Fliers Research found that lengthy recruitment processes frustrate 34% of graduates, while 28% were unhappy with the number of stages in the recruitment process.
Poor communication was among the top five things graduates found most frustrating about applying for a graduate job, with 43% of this summer’s new graduates annoyed by poor communication from their potential employer; 34% irritated by the length of time they had to wait to hear the outcome of the interview and over half complaining they never received any feedback at all when applying for a role, according to the research.
Simon Collins, chairman of KPMG in the UK, 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.
“Our own graduates have given us some hard hitting, but really useful feedback and we’re using this to overhaul how we recruit.”
The firm’s new approach, called Launch Pad, will combine the traditional three stages of first interview, assessments and final interview into a single day.
Collins added that the firm will make an offer or give feedback explaining why they were not successful within two working days.
KPMG said the frustration of going through lengthy recruitment processes could impact big businesses’ 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.
“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,” Collins added.