The Jobvite survey, conducted in June, surveyed more than 800 U.S.-based HR and search professionals on their social recruiting actions and intentions. The Jobvite Index aggregates social recruiting data drawn only from Jobvite customers. What really stands out is that only 16% of companies polled expect to increase spending on job boards, and only 12% more on 3rd party recruiters. The recruiters will survive commensurate with their ability to integrate social media into their brand, process, client/candidate relationships. Job boards on the other hand might be challenged given the reduction in spending mentioned above, and the continuous creep of job board aggregation. More from the survey below…..or you can check out the full release here.
Social Media and Referrals at The Top.
The annual survey shows continued growth in social recruiting. 64% of these employers have made successful hires through social networks, and the majority of them aim to invest more in social recruiting next year.
- 64% of survey respondents have hired through social networks in 2011, vs. 58% in 2010.
- 55% will increase their budgets for social recruiting and 30% for referrals, while only 16% will spend more on job boards.
- Survey respondents continue to rank referrals as the most highly rated source for candidate quality.
- Jobvite Index data confirms this quality assessment: 1 in 10 referral candidates are hired compared to 1 in 100 general applicants.
Multi-Network Recruiting Gets Results
While almost all surveyed companies (87%) use LinkedIn for social recruiting (up from 78% last year), most target talent on at least two networks. More than half (55%) use Facebook and 47% use Twitter.
- 64% of surveyed companies use at least two networks in their recruiting efforts, and 40% use three or more.
- The Jobvite Index found that over the last six months 73% of all social hires came from LinkedIn, 20% from Facebook and 7% from Twitter.
- However, 43% of social referral hires on Jobvite came from Facebook; LinkedIn generated 41% and Twitter produced 16%.
- LinkedIn users received 52% of all social job referrals, while Facebook and Twitter each received 24%.
The War for Talent Heats Up With Increased Hiring – and Poaching
Proof that the labor market continues to recover, 67% of survey respondents said they plan to increase hiring over the next 12 months (up from 56% in 2010). They will almost universally employ social recruiting, and most companies anticipate more hiring competition.
- 77% of survey respondents expect increased competition for talent.
- Nearly 2/3 (61%) of companies intend to recruit from competitors in the year ahead.
- Nearly 2/3 (61%) of com