Jobvite has just released its sixth annual Social Recruiting Survey, polling 1600 recruiters and HR professionals on their social media efforts.
The results continue a trend that I’ve been following for years: Social is a major part of any organization’s hiring efforts. In 2008, 78% of recruiters were using social media. In 2011, it was 89%. This year, it’s 94%. Even more telling, 73% of respondents planned to increase their social recruiting spend in 2013 – compared to the 39% who planned to increase their spend on job boards.
LinkedIn was the most popular social network in many categories, from searching for candidates (96% of companies), contacting candidates (94%), and posting jobs (91%). Only about half of respondents posted jobs on Facebook, and a little less than that posted jobs on Twitter.
Just what you’d expect, right? But there’s more to these numbers than meets the eye.
First, the cracks in job boards’ dominance, already mentioned above, become more apparent deeper in the survey. Respondents said that 42% of their applicants are sourced through job boards…but only 14% of hires come that way.
Compare that to applications through referrals and company career sites, which make up 39% of submissions, but 61% of hires. This is a much better ratio, especially since 43% of these employees stay for at least three years, while only 14% of job-board hires do. It looks like job boards are generating lots of applicants who don’t get hired – or don’t stay if they do.
Another interesting discovery is that recruiters use LinkedIn differently from other social networks. LinkedIn was good for assessing a candidate’s professional experience and “specific hard skills.” But Facebook, Twitter, Google Plus, and others were better at determining a candidate’s cultural fit. Which is more important? How would Southwest Airlines respond, whose co-founder Herb Kelleher coined the phrase, “Hire for attitude, train for skill“?
What I found most revealing were the questions that related to the financial value of social recruiting. 43% of companies spend less than $12,000 a year on social recruiting. But 65% believe that its value is greater than $20,000 a year. And 20% place its value at more than $90,000 a year!
I understand the budgetary restraints placed on HR departments, but these numbers show that even a small investment can generate tremendous savings, especially combined with higher quality of candidates (according to 49% of recruiters) and less time to hire (33%) that social recruiting produces.
Are you one of the 6% of companies not yet using social in your talent acquisition strategy? Or one of the 73% that plans to increase their social recruiting budget? Brandemix can help. Download our free Social Media Strategy Guide for Talent Acquisition. If you’re ready for the next step, visit our website for more info.