Accountancy firm KPMG has decided to make its recruitment process much shorter because millennial applicants — people born between 1980 and 2000 — are getting frustrated by the old system, according to the BBC.
KPMG’s previous arrangement required three separate assessments, which took place over many weeks. But the new one will be carried out in a single day — and candidates will find out in just two working days if they have landed the job.
The decision follows a survey by KPMG in which more than a third of the 400 respondents said they were annoyed by the length of the application process. Even worse, more than half said they hated not getting any feedback if they did not get the job.
KPMG chairman Simon Collins said the move was necessary to stay ahead of smaller startup firms which recruited people far more quickly: “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.”
This is not the first time a big company has streamlined its recruitment process. A month ago, Goldman Sachs announced that it would scrap face-to-face interviews with undergraduates in favour of video interviews. The bank hires around 2,500 students each summer to be part-time and full-time analysts.
Last year accountancy firm Deloitte also said that it would hide where applicants went to university from recruiters to prevent an “unconscious bias.”
As well as improving social mobility, Deloitte senior partner David Sproul told the BBC that it was also self-serving, as companies needed “to hire people who think and innovate differently, come from a variety of backgrounds and bring a range of perspectives.”