In today’s post, Advice and Resolution team member Renee’ Watkins shares the findings of a CareerBuilder survey that reveals where employers should be wisely spending their resources on recruiting sources.
According to a CareerBuilder survey of over 1,600 of their clients, job candidates, on average, use eighteen (18) sources when looking for a new job. Understanding which of these sources are used most often will give employers insight as to where to invest their recruiting time on job posting sources.
Most companies typically do the same things when it comes to getting the word out regarding job openings. There are employee referrals, internal databases, job boards, etc. No secrets or surprises here. So, which sources are having the most success?
Forty-three percent (43%) of those surveyed find the most success posting on Job Boards. Thirty-two percent (32%) find the most success by posting on Career Sites. Seven percent (7%) have more successful hires coming from Employee Referrals and two percent (2%) are more successful recruiting candidates through an Agency. Other sources combined to make up the remaining 16%.
However, according to Leadership IQ’s latest research, the most successful companies are finding their best people in what they call “The Underground Job Market” through employee referrals and networking.
As an employer, now that you have this information, what can you learn from it? In order to ensure the best possible formula for recruiting success, an organization must have a multi-faceted strategy for sourcing candidates. An internal database, or pool, of qualified candidates you have already spoken with and vetted is one of your best sources.
However, you should also make sure you post openings on targeted job boards and career sites. This will attract candidates for your current opening. Establish an employee referral program which rewards employees for finding and recruiting qualified candidates for an opening. This will encourage participation and engagement from your existing employees, as well as serve to preserve your corporate culture. People are prone to associate with and recruit people who they are most compatible with.
A single approach to recruiting is not enough to make you successful. There will be specialty jobs which require very targeted approaches, including perhaps the support of an agency. There will also be jobs requiring a certain level of soft skills in addition to education and experience. For these, you may find yourself “smiling-and-dialing” to locate the right candidate.
Lastly, there are two important considerations to remember when putting these strategies to use. The first is, a recruiting technology is only as good as the people who use them. Make sure your team is well-trained on getting the most use out of career sites and job boards. As with any technology, if you do not use it correctly, it will not work for you. The second thing to remember is to accurately measure your source for each hire. These statistics will tell you and your management, which strategies are working well and help to drive budgets for investing deeper in certain strategies.
Should you need assistance developing a new approach or validating your existing one, please contact Tom Sheehan on our Advice & Resolution team at (919) 878-9222 or firstname.lastname@example.org.