Jobvite, a US company which provides a Web 2.0 platforms to manage all aspects of hiring people have just published their second annual Social Recruitment Survey.
The 2009 Jobvite Social Recruitment survey has found that more employers are using social networks like LinkedIn and Facebook to find, attract and recruit candidates. They are also finding that they are more satisfied with the quality of candidates found this way as well as through employee referrals than those found on job boards and 3rd party recruitment agencies.
Results found that 72% of those surveyed plan to increase their use of social networks, 76% plan to invest in employee referrals while a majority say they will invest less in costly sources such as job boards and third party recruitment.
80% of companies are using or planning to use social networks as a way to find and attract candidates with LinkedIn now being used by 95% of those surveyed to source candidates, Facebook is second with 59% and then 42% for Twitter.
Whilst the survey focused on over 400 individuals using or interested in using Social Media to recruit staff, it is the levels of satisfaction expressed that are the highlight of the report along with the potential of LinkedIn. With over 30 million professionals from 150 unique industries with an average age of 39 and average earnings of $139,00o it is an obvious source for executive recruiters.
But clearly the nature of LinkledIn is changing and encompassing a wider demographic which will be further fueled by this survey.
Given the survey covered a wide variety of businesses from small (less than 100 employees) to very large (more than 5,000 employees) it is clear that Social Media Recruiting has application across the board. Especially given the high levels of satisfaction expressed compared to Recruitment Agencies, Job Boards etc. Also 89% of those who participated were real employers and not agencies.
There is also a clear indication that the power and reach of Social Networks will see a growth of employee referrals being used to recruit staff. Rather than banning Social Networking employers will see another benefit in utilising the social and professional networks of their staff to find the best people to fill vacancies.
The main reasons for the use of Social Networks rated as follows :
- Reach passive job-seekers – 77%
- Low cost candidate source – 74%
- Source hard to find skills or experience – 72%
The key outcomes of the survey included:
- 66% said they had hired through an online Social Network already
They will invest more time and money next year in:
- Employee referrals – 76%
- Social Networks -72%
- Corporate career site – 64%
They will invest less time and money in:
- 3rd party recruiters – 72%
- Job boards – 57%
So as foreshadowed in previous posts the recruitment industry is one that will see great change in future as a result of the growth of Social Networking. Also it is clear that the use of Social Media by recruiters within companies and by their current staff will grow in the effort to find the best candidates more cost effectively.
Clearly another reason for companies large and small to develop and implement Social Media Policies and Plans which incorporate staff recruitment.
For those interested or involved in recruitment it is well worth downloading the free survey results and analysis from the Jobvite website … and checking out the Enova Newsletter and reading The Grumpy Old Managers Guide to Social Media Marketing.