The Need for Speed – A Competitive Differentiator in University Recruitment

August is quickly approaching, and as University Recruiting picks up steam, the talent acquisition landscape is continuing to evolve. In a job market filled with uncertainty, speed has emerged as a critical factor both for hiring top talent and for candidates seeking their next opportunity.

Last University Recruiting season, we saw a shift in the speed at which candidates navigated the Karat interview process, reflecting the tightening job market and intensified competition to land interview opportunities.

At Karat, we’ve learned a lot after conducting more than 300,000 technical interviews. In addition, we partner with leading organizations to support their University Recruiting process. Check out our latest findings to help you refine your approach and level up your hiring strategies:

Candidates progressed much faster

During this year’s University Recruiting season, 30% of candidates completed the Karat technical interview process in four days or less. This is an increase from the previous season, when just 20% of candidates completed it in four days or less. Due to the tighter job market and fewer interview opportunities, candidates moved considerably faster this year.

Speed drove hiring efficiency

Companies have historically benefited from faster candidates who typically score better, receive offers more often, and close at higher rates. All of this drives better hiring efficiency (fewer candidates per hire). Last season, candidates who completed the Karat process in 4 days were hired at rates that were 2.3 times more efficient than those who spent 14+ days in the process. This year, speed was even more vital: fast candidates (4 days or less) drove 4x hiring efficiency compared to candidates on an extended timeline (14+ days).

The best candidates interviewed early in the season

Companies that were slow to start their University Recruiting interviews may have missed out on many of the best candidates. Average coding scores peaked at the beginning of the season in August 2022, then gradually declined. By January 2023, average coding scores had fallen by 32%.

What does it mean?

Companies must be prepared to start interviewing in August to have access to the best candidates.
Companies must be able to drive fast hiring processes to optimize hiring efficiency and close top talent.
In this year’s tighter job market, we expect there to be fewer available University Recruiting roles in the 2023-2024 University Recruiting season; candidates should prepare to interview as early as possible to ensure they get the best opportunity to land their preferred role.

Ready to Level Up Your University Recruiting Strategy?

We’ll partner with you to unlock the full potential of your University Recruitment program with technical interviews that are fast and fair, accessible to diverse candidates, and improve your talent hiring pipeline.

Learn more about Karat’s University Recruiting solution