Building a high performance workforce these daysrequires a fresh approach. That is especially clear when you consider our daily news is filled with paradox: stories of layoffs, hiring freezes and reduced hours are just as common as the need to find and retain highly skilled talent.
The ability to stay competitive as the economy improves is forcing businesses to look at recruitment differently. But businesses need a workforce that is more qualified, more efficient and more skilled than ever before. Companies will not be able to fill new jobs they create or the jobs they have eliminated over the last few years using old strategies and technology.
10th Annual CareerXroads Source of Hire Report: By the Numbers Survey & Report released last week provides cues for employers ready to change.
One of the most powerful findings revealed that it takes 826 visitors to a company career site to obtain one hire. This excellent Jobs2web slide helps to illustrate that an effective recruitment strategy attracts candidates from a variety of sources including job boards, social media, and search engines.
To compete for talent, employers must now add search engine optimizer to the list of responsibilities for recruiters and human resources professionals. Just last month 101,000,000 global searches on Google for ‘jobs’ last month (Source: Google Keyword Tool. From Davis Advertising, 2011 Second Annual Survey of Job Posting Sites, Chris Taylor). For employers, recruitment is no longer just a human resources function. Getting candidates to find you requires a well-executed internet marketing strategy when writing ads, using social media, and designing a career site.
The report also reported that 57.1 percent of the respondents believed that social media played an important part in their direct sourcing program. Asked to rank the impact of social media on various parts of their recruiting program, respondents said its influence was greatest on direct sourcing, college hiring, and on hiring from job boards.
The most important finding might be that internal movement is the #1 Source of Hire. Yes that’s right – career sites, job boards, and ads on social networking sites may help increase the flow through the talent pipeline but more than half of ALL hires were filled from internal movement. It is the second year in a row that internal movement was attributed to at least 50% of the positions filled.
Referrals contributed the most new candidates when evaluating external sources of hire, following by job boards. Monster and CareerBuilder continue to be the leading suppliers of new hires. Of the responding companies, 88.9 percent reported making at least one hire from Monster; 85.7 percent hired at least one candidate from CareerBuilder.
Based on these results, I offer four recommendations if employers will be successful in their pursuit of skilled workers:
1. Candidates must be recruited from multiple sources including internal candidates, referrals, job boards, and social media.
2. A company career site is more important as a central point of application than a direct source of candidates.
3. An applicant processing system must be considered to facilitate the rapid and accurate screening of applications.
4. Referrals and word of mouth remain the number one source ofexternal hires. Consequently, social networks cannot be ignored; they are a viable and important sources of candidates.This article originally appeared in The Total View, a weekly online newsletter that focuses on hiring, management and retention strategies. The Total View is written and published by Ira S. Wolfe, president of Success Performance Solutions and is distributed with permission by The Chrysalis Corporation. Subscribe for FREE to The Total View by typing your e-mail address in the newsletter sign-up box on the right side of this page.