Corporate  Recruiting Trends~LinkedIn
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Corporate Recruiting Trends~LinkedIn Document Transcript

  • 1. Talent Advantage Whitepaper Corporate Recruiting Trends – June 2009 By Beth Chappell Customer Insights – Market Research Consulting http://www.linkedin.com/in/bethchappell
  • 2. Summary Key Findings The recession, the rise of social networking and an increase in the Corporate HR departments still spend the largest portion of their budgets use of technology are three key factors influencing current trends in on traditional job boards and 3rd party agencies, but this is changing. corporate recruiting. A recent survey among corporate HR Directors In 2009, companies still plan to spend 27% of their recruiting budget on and above, in the US and Canada, shows a change in spending traditional job boards (32% among small companies), followed by habits and the adoption of new, more efficient solutions. 3rd party agencies at 15%. This isn’t surprising given that traditional jobs Highlights of the feedback from these corporate recruiting boards source the largest percentage of hires (25%). While 3rd party leaders include: agencies don’t bring in as many hires (10%), since they are typically used for higher level positions, they are seen by half of companies as Corporate recruiting budgets are shifting, with less spent on 3rd ‚‚ ‚ the most effective source for hiring top talent into difficult-to-fill party agencies and traditional job boards. Spending will increase on managerial positions. internal referral programs, corporate websites, hiring from within, and social and professional networks. Research confirms a shift is occurring, however, with 50% of companies spending less resource on 3rd party agencies and 40% spending less on During this recession a high priority is being given to efficiency ‚‚ ‚ traditional job boards than they have in the past. improvements. However, it is also critical to prepare for the recovery and most companies are giving top priority to nurturing a strong Where is the money going instead? talent pool. Plan to spend more time and money on ‚‚ key component to developing a strong talent pool is getting A ‚ to passive talent. Internal referral programs are the top source for 37% delivering passive talent. Other top sources are 3rd party agencies/ Internal Referral Programs staffing firms, local networking events, and LinkedIn . Using social/professional networks and upgrading employment ‚‚ ‚ 34% branding are the top two recruiting trends cited by corporate Corporate website recruiting leaders. 34% When thinking about their competitive position, these leaders are ‚‚ ‚ most nervous that their competition will build and nurture a strong Hiring From Within talent pool, invest in employment branding, and learn to use social 30% networking/social media more effectively. Professional and Social Networks To make your recruiting efforts more effective in 2009, what did you decide to spend more time and money on? About one in three companies will increase spend on hiring from within, internal referral programs and corporate websites. These are all sources that currently produce a moderate percentage of hires, around 15% each. Another shift is the intention to spend more time and money on sources that, in the past, have each sourced fewer than 10% of hires. These growth areas (and the percentage of companies planning to spend more on them) are: professional and social networks (30%), ‚‚ ‚ specialized/niche job boards (23%) ‚‚ ‚ college recruiting (17%). ‚‚ ‚ The first two sources are seen as particularly strong in finding top talent for difficult to fill managerial positions. Corporate Recruiting Trends | Talent Advantage 1
  • 3. Corporate recruiting teams are giving a high priority to efficiency When it comes to hiring passive talent, over half of companies believe improvements. At the same time, they believe it is critical to nurture a their best hires come from passive candidates and focus on recruiting strong talent pool in preparation for the recovery. them. This is particularly true in larger businesses with 66% focusing on hiring passive talent. Two-thirds of companies are giving high priority to efficiency improve- ments during the current downturn. In fact, one in five say it is their top Internal referral programs are the top source for delivering passive talent priority. Larger businesses are even more focused on this, with one in (57%). Most companies have an active employee referral program. Four three making efficiency improvements their top priority. in ten say “most” or “many” of their employees actively refer candidates. Other top sources for passive talent are 3rd party agencies/staffing firms Nurturing a strong talent pool is critical. It is the most widespread action (37%), local networking events (29%) and LinkedIn (22%). being taken to prepare for the recovery (49%). Among larger businesses, 61% already have or plan to build and nurture a strong talent pool. It Sources delivering the most passive talent is also a key action that corporate HR leaders are most nervous will be implemented by their competitors. 57% Internal Referral Programs Most nervous competitors might do 37% 35% 3rd party agencies/staffing firms Build and Nurture a Strong Talent Pool 29% 34% Local Networking Events Invest in Employment Brand 22% 26% LinkedIn Learn to Use Social Networking / Social Media more effectively 4% 21% Facebook Improve Referral Program 2% 11% Twitter Prepare Hiring Managers What sources have delivered the most passive talent hires? 8% Train Existing Team Members 5% Prioritize Positions to Focus on First What are the things that your competitors could have done or plan on doing that would make you most nervous? Corporate Recruiting Trends | Talent Advantage 2
  • 4. The main avenues for building relationships with passive talent The top two essential and long-lasting recruiting trends cited by are connecting on LinkedIn (37%) and manually gathering contact corporate recruiting leaders are using social/professional networks information (37%). and upgrading employment branding. At the core is the need to save money and attract better talent. Sources used to build relationships Corporate recruiting leaders believe utilizing social and professional 37% networks (68%) and upgrading employment branding (52%) are the top Connecting on LinkedIn two essential and long-lasting trends in recruiting. In fact, two of the top concerns making HR leaders most nervous are that their competitors 37% will invest in building their employment brand (34%) and will learn to Manually Gathering Contact Information use social networking/social media more effectively (26%). 24% Most essential and long-lasting trends in recruiting Company CRM Tool 68% Utilizing Social & Professional Networks 23% Online Groups 52% Upgrading Employment Branding 11% Connecting on Facebook 34% Reducing Spend on Staffing Firms 2% Twitter 31% How do you build relationships with passive talent? Boosting Referral Programs What do you consider to be the 3 most essential and long-lasting trends in recruiting? Methodology LinkedIn conducted an online survey using the LinkedIn Research Network in late May 2009. All respondents are corporate recruiters or corporate HR (no staffing agencies) in companies with over 200 employees. Only Director level (58%) or above (42%) took the survey. Respondents were mostly from the U .S . (228) with a few from Canada (34). LinkedIn hired Customer Insights, an independent research company, to lead the research effort. Customer Insights worked with LinkedIn to develop the survey, analyze and report the data. The survey was administered through the LinkedIn Research Network. Contact: beth@customer-insights.com Corporate Recruiting Trends | Talent Advantage 3
  • 5. LinkedIn Talent Advantage A. Finding the best passive talent while remaining compliant In this section you will find out how LinkedIn Talent Advantage Designed for corporate recruiting teams, LinkedIn Recruiter brings helps in-house recruiting teams: the widest search space and search features on LinkedIn. Recruiters can quickly and precisely get names and full profiles beyond their ‚‚ and contact top passive talent find ‚ 3-degree network to find and contact the best professionals for their ‚ their employment brand in uniquely targeted ways build ‚‚ search. Recruiter also features advanced direct messaging, collabo- ‚‚ jobs that boost referral hiring post ‚ ration and productivity tools. while reducing third-party and traditional job board spend. All the activity conducted within Recruiter stays with the company and does not leave to the next company - maybe a competitor - Why recruit on LinkedIn? when a recruiter moves on. All searches can be tracked for OFCCP compliance if the account administrator requests so. First, with well over 43 million professionals, LinkedIn is the largest global professional network, providing recruiters with unparalleled B. Building Employment Branding access to an incredible pool of passive talent. There are active job seekers on LinkedIn as well, of course. However, employed profes- LinkedIn offers both Employer Advertising and Custom Company sionals make the vast majority of LinkedIn’s membership. And Profiles. Both leverage a member’s profile information to deliver that pool continues to grow as approximately two million new the right message to the right professionals in very targeted ways, members join LinkedIn every month. making the message uniquely relevant and engaging. Just like other LinkedIn Talent Advantage solutions, they both reach more passive Second, LinkedIn members self-publish valuable information about candidates than active job seekers, in an uncluttered environment, their experience, skills, current and past positions, and much where professionals conduct business minded activities. more. Their “profile information” is likely to be most accurate since many of their current and former colleagues can see it at any given C. Posting Jobs that will boost referral hiring time. Who would lie in that case? All this information enables advanced search features as well as targeting options, which, in Even job postings on LinkedIn were designed to help recruiters hire turn, provide recruiters with unique opportunities to find exactly passive talent. the talent they seek and engage and advertise to the profiles First, after posting a job, a recruiter will receive a list of profiles of they value most. LinkedIn members who fit the job description criteria. Third, the network itself significantly amplifies recruiters’ efforts. Second, LinkedIn displays these jobs to professionals likely to be Indeed, LinkedIn members forward jobs to their network and don’t great fits for these positions beyond the job section of the site. hesitate to recommend great matches to recruiters when they are Third, LinkedIn has made it incredibly easy for a member to forward not quite ready to take the next step themselves. a job to their connections who are good matches: it shows them a list of who has the right experience and lets them forward the job Why upgrade to LinkedIn Talent Advantage? post with only two clicks. Many recruiters are already finding success with their personal As a result, jobs posted on LinkedIn are forwarded to 11 different accounts. However, LinkedIn Talent Advantage products were people on average. designed to take recruiting to the next level: they provide enter- prise-grade solutions to go from “individuals recruiting great For more information about LinkedIn Talent Advantage, talent” to “organizations recruiting the best talent most effectively”. visit talent.linkedin.com and follow our blog on http://talent.linkedin.com/blog Copyright © 2009 LinkedIn Corporation. LinkedIn, the LinkedIn logo, and InMail are registered trademarks of LinkedIn Corporation in the United States and/or other countries. All other brands and names are the property of their respective owners. All rights reserved. 07-LCS-006-B 0609 4