Tag: Social media

If you’re not using social media to complement your hiring efforts yet, then you’re seriously falling way behind the trend.

Earlier this summer, Jobvite unveiled its annual Social Recruiting Survey, which found that social media has become an essential recruiting tool for successful HR teams. Currently, 92 percent of companies are using social media to recruit new employees, which is up from 78 percent five years ago.

Survey results are based on answers from more than 1,000 human resources and other recruitment professionals who were asked about their social media recruiting activities and intentions.

Some key findings of the survey include:

  • LinkedIn remains the most popular social network among recruiters, with usage increasing from 87 percent in 2011 to 93 percent in 2012.
  • 66 percent of recruiters are using Facebook, up 11 percent from last year.
  • 54 percent of recruiters are using Twitter.
  • 73 percent of employes have successfully hired a candidate through social media, up from 63 percent in 2011 and 58 percent in 2010.
  • 89 percent of recruiters have hired through LinkedIn, 25 percent through Facebook, and 15 percent through Twitter.
  • 49 percent of recruiters have seen the size of their candidate pools increase since adopting social media.
  • 43 percent of recruiters think social media leads to better quality candidates.
  • 20 percent of recruiters say hiring through social media is quicker than through traditional channels.
  • 71 percent of recruiters consider themselves moderate to exceptional social recruiters.
  • 48 percent of recruiters always check a candidate’s social profiles.
  • 80 percent of recruiters like candidates who belong to professional organizations.

“The rise in social recruiting has allowed both candidates and employers an easier way to find the best match,” Dan Finnigan, president and CEO of Jobvite, said in a press release. “We continue to see social recruiting gain popularity because it is more efficient than the days of sifting through a haystack of resumes. It also increases quality referral hires, which our own data on Jobvite proves are hired faster and last longer.”

If you’re not using social media as part of your recruiting efforts yet, here’s some motivation: revenue from social networking sites is expected to rise a whopping 43.1 percent this year, hitting a total of $16.9 billion.

That’s according to a new forecast on social media revenue from Gartner, which examined past revenue from sites like Facebook, Twitter, and LinkedIn, and asked analysts how that revenue will grow over the coming years.

What does this have to do with recruiting? It means that more people are going to be using social media sites and more companies are going to figure out how to monetize the actions from those users.

So it only makes sense that you establish a presence on all the popular social media sites now, so you can interact with the online community and find some great candidates by advertising your jobs or tapping into your networks’ connections.

Here are some interesting facts from the report:

  • Social media revenue is expected to rise from $11.8 billion in 2011 to $16.9 billion this year, making for an increase of 43.1 percent.
  • Revenue from social networking sites should reach $34 billion by 2016.
  • Advertising accounts for the largest portion of revenue from social media sites, expected to hit $8.8 billion this year, followed by social gaming at $6.2 billion, and subscriptions at $278 million.
  • The number of people using social media will grow at a moderate pace as competition and new technologies keeps people engaged.
  • Marketing departments are going to spend more of their advertising budgets on social media sites.

“New revenue opportunities will exist in social media, but no new services will be able to bring significant fresh revenue to social media by 2016,” Neha Gupta, a senior research analyst with Gartner, said. “The biggest impact of growth in social media is on the advertisers.

“In the short and medium terms, social media sites should deploy data analytic techniques that interrogate social networks to give marketers a more accurate picture of trends about consumers’ needs and preferences on a customized basis,” she added. “In the meantime, however, they should also continue to exploit other channels of revenue like mobile advertising and social commerce.”

There is lots of advice out there about how you can find your next job on Facebook, but now it seems that the popular social networking site is going to make that task even easier by launching its own job board.

A recent article from NASDAQ claims that Facebook is planning to launch its own job board later this summer, although the article couldn’t credit its source, saying only that the information came from “people familiar with the matter.”

If it does become a reality, the job board could pose a huge threat to competitors – specifically LinkedIn – as well as other companies that develop apps to help companies showcase their jobs on Facebook.

“In recent years, the success of sites like LinkedIn, which merge users’ personal and professional histories with information about jobs, have put pressure on once-dominant sites like Monster.com,” the article notes. “While job seekers once considered sharing information on Facebook to be a liability when finding a job, today a host of companies, including those partnering in the new job board, have popped up promising to better match job seekers and recruiters using profile information from Facebook users.”

According to NASDAQ’s sources, the job board will aggregate job openings from other third-party providers, making those jobs available to all users. Facebook also plans to involve BranchOut, Jobvite, and Work4 Labs – all of which currently use Facebook for recruiting purposes – in the new effort.

Not much else is clear about how the new job board will operate, although Facebook does plan to make the service available for free, at least initially.

By now, most companies know how important it is to have a good recruitment software system in place. But how does your company value that software’s ability to integrate with social media?

Last year, Jobvite released its annual Social Recruiting Survey and introduced the new Jobvite Index, both of which unveil how recruiters are using social media. The data prove that social media is becoming more and more important in the recruiting process.

Overall, the number of companies planning to recruit through social media increased from 83 percent to 89 percent last year. At the same time, 64 percent of companies were using at least two social networks for their recruiting efforts.

“The data show that recruiting departments, like marketing departments, are reaching and engaging their targets in multiple social networks,” Dan Finnigan, Jobvite president and CEO, said in a company press release. “The fastest moving companies increasingly use the richness of profiles in LinkedIn, the power of online connections in Facebook, and the instant reach of Twitter to develop valuable talent pools and make new hires.”

Some other key findings of the survey include:

  • The number of companies that have hired through social media increased from 58 percent to 64 percent between 2010 and 2011.
  • Although companies still claim referrals bring the highest quality candidates, only 30 percent were planning to increase their referral budget, while 55 percent were spending more on social recruiting. Only 16 percent were paying more for job board postings.
  • As we previously noted, 64 percent of companies use at least two social networks for recruiting, while 40 percent of companies use at least three.
  • About 73 percent of social hires come from LinkedIn, while 20 percent come from Facebook, and 7 percent come from Twitter.
  • The fight for jobs isn’t expected to die down anytime soon, as 77 percent of companies anticipate an increase in competition, and 61 percent plan to recruit from their competitors.

“Jobvite’s new data confirms our research that social recruiting has become an essential element of today’s corporate recruiting strategy,” Josh Bersin, president and CEO of Bersin & Associates, said. “The data also points out that referral-based recruiting is a new ‘secret weapon’ for talent acquisition. Companies that focus heavily on referral strategies, enabled by social networks, are delivering the highest quality of hire at the lowest overall cost.”

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