Accountancy firm KPMG has changed its graduate recruitment process to suit people born between 1980 and 2000 – the so-called millennial generation.
Instead of conducting three separate assessments over several weeks, it will now combine the process into one day.
The firm says the change will mean applicants will find out if they have got a job within two working days.
It made the change following research suggesting millennials were frustrated by lengthy recruitment processes.
KPMG said its survey- conducted among 400 of this summer’s new graduates applying for a graduate job at a UK firm – found that more than one-third were annoyed about how long they had to wait to hear the outcome of an interview, and how long the recruitment process took.
But the biggest complaint, made by more than half of those surveyed, was about not receiving any feedback if they were unsuccessful.
KPMG chairman Simon Collins said the company felt it had to make the changes to make sure 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 accountancy firm’s move comes in the wake of several other big firms shaking up their graduate recruitment process.
In June, Goldman Sachs said it had scrapped face-to-face interviews on university campuses in a bid to attract a wider range of talent.
The US investment bank has now switched to video interviews with first-round undergraduate candidates, in a move aimed at helping it to attract graduate recruits from a broader range of disciplines.
And last year, professional services firm professional services firm Deloitte said it had changed its selection process so recruiters did not know where candidates had gone to school or university.
It said the move was aimed at preventing “unconscious bias” and recruiting a more diverse “talent pool”.
Analysis suggests millennials will make up 75% of the global workforce by 2025.
Several surveys suggest that these younger workers are not motivated by the same factors as previous generations, such as a job for life, but instead value a good work-life balance and a sense of purpose beyond financial success.