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Millennials opt for smaller companies

Big firms’ hiring processes ‘onerous’ say graduates

Appointments 2Big business is facing a recruitment crisis as graduates become frustrated by “onerous” recruitment processes and opt for roles with smaller companies.

More than half of students responding to a survey complained that they never received any feedback from big firms when applying for a role.

The survey by KPMG and independent market research company High Fliers Research points to a need for big companies to change the way they hire graduates.

Catherine Burnet, who takes on the role of regional chair for KPMG in Scotland in October, 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.

“Graduates have given us some hard hitting, but really useful feedback and we’re using this to overhaul how we recruit.

“From now on a candidate’s final interviews and assessments will take place over the course of just one day and we will make them an offer or give feedback explaining why they were not successful within two working days.”

Following in-depth discussions with current and prospective graduates, KPMG has introduced Launch Pad, a new streamlined approach which combines the traditional three stages of first interview, assessment centre and final interview into a single day.

Students will also get the chance to gain new skills, network with existing KPMG staff and partners, as well as their peers.   

Ms Burnet added: “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.” 

* The top five frustrations for graduates were:

  • Not being offered any feedback if they were unsuccessful (55%)
  • Delayed or poor communication from the employer (43%)
  • The length of time they had to wait to hear the outcome of the interview (34%)
  • The length of time the recruitment process takes from start to finish (34%)
  • Too many stages in the recruitment process (28%)
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