The accountancy giant worked with independent market research company, High Fliers Research, to survey over 400 new graduates about their experience of applying for jobs after university.
The results show they are frustrated by lengthy recruitment processes and poor communication from their potential employer. This frustration could impact big business’ future ability to attract talent, with graduates opting out of traditional job schemes in favour of roles in smaller companies, which offer a faster and simpler recruitment process.
Mike Steventon, Midlands regional chairman at KPMG, said: “Birmingham has thelargest concentration of businesses outside of London and a number of top educational institutions producing talented and ambitious graduates, so attracting, developing and retaining talent is crucial, even more so if that talent is local. We typically recruit around a thousand graduates each year into a range of different positions, throughout our UK offices, and in the Midlands specifically, this is normally around 100 positions.
“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 streamlined approach which combines first interview, assessment centre and final interview into a single day.
Mike 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.”
KPMG is recruiting for 1,000 graduate positions across the UK, with assessment centres taking place in London, Bristol, Birmingham, Leeds and Glasgow from October.
KPMG’s graduate scheme is one of the most popular in the UK: the firm received 28,000 applications for 1,000 positions in 2015.
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