KPMG says the new process will mean that job applicants will find out if they have got the job within two working days.
A survey conducted among 400 of this summer’s new graduates applying for a graduate job at a UK company, the research suggested that millennials were frustrated by lengthy recruitment processes and so KPMG decided to make the change.
The biggest complaint however, made by more than half of those surveyed, was about not receiving any feedback if they were unsuccessful in their applications.
Simon Collins, KPMG chairman, said the company felt it had to make the changes to ensure it could compete with smaller start-up or tech firms, which often offer a faster recruitment process, to secure the best graduate employees.
“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,” he said.
The new process now includes video interviews with first-round undergraduates, aiming to help attract graduate recruits from a broader range of disciplines.
Millennials are expected to make up 75% of the global workforce by 2025. Several surveys suggest that these younger workers are not motivated by the same things as previous generations, such as a career for life, but instead value a good work-life balance and a sense of purpose beyond financial success.
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