June 23, 2018

KPMG UK Succumbs to Millennials’ Bellyaching on Slow Recruitment Process

Millennials detest many things. This list of things would include: slow wifi signals; conventional produce, talking on the phone, check books, high fructose corn syrup, cars, shopping in a physical store, albums, coal, gluten, movies that don't stream on Netflix, being called a Millennial, and Millennial stereotypes, just to name a few.

But perhaps one of the biggest pet peeves of Millennials is good ol' fashioned waiting. That's right, in this day and age, people aged from, uh, 22 (?) to 30-something allegedly don't have patience for much of anything. 

This includes many traditional business processes such as hiring. Historically, recruits go through a gruesome ordeal with multiple interviews that drags on for several weeks before knowing whether they have a job. Fortunately, the BBC reports that KPMG seems to have gotten the message (in the UK anyway) and has decided to tighten up the time from interview to offer:

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.

Two days isn't so bad, now is it? I'm sure recruits on this side of the pond would appreciate it if the House of Klynveld took similar action.

However, there seems to be one unresolved stick left in the Millennial craw

[T]he biggest complaint, made by more than half of those surveyed, was about not receiving any feedback if they were unsuccessful.

Even if they need to be told that their personality sucks, Millennials prefer knowing now rather than later.

[BBC]

Related articles

SHOCKER: Number of Fraud Cases in the Courts is High

In probably the most shocking news of the day, KPMG’s “fraud barometer” reports that the number of fraud cases in UK courts in the first six months of the year are the highest since the firm started issuing the report, 21 years ago.
Here in the states, the big sexy fraud gets all the attention but there is plenty of small fraud to go around. Plus, the bright side is, we’ve haven’t seen anything yet:

“These figures are bad, but the worst is yet to come,” Hitesh Patel, a partner at KPMG, said. “It will be a number of years before the impact of the recession fully feeds through into the fraud statistics.”

So our advice would be for any of you that are nervous about layoffs, look into getting transferred to the forensic accounting practice. You won’t be out of work any time soon.
Record total of fraud cases in court – and worse to come [FT.com]

Promotion Watch: KPMG

Forgive us for being a little behind on this, we’re still twisting arms out there:
On July 15th, the Radio Station announced the promotion of 874 new Senior Managers and Managers. This compares to 1,228 that got the bump last year.
Some might say that there were less people up for promotion this year, hence the drop. Others might say “that’s because I got the axe and now live on government cheese”.
Click on the image below for a full-size view of the announcement (please note the crookedness as a sign of authenticity). Anyway, congrats to all the new taskmasters managers at KPMG!
kmpg_memo.gif