If there is one thing Mark and I have learned over the last decade writing our Source of Hire whitepapers, it’s that the “sources” employers choose to attribute their hires to are no longer independent elements.
Every source from walk-ins to referrals are seriously interconnected in an increasingly elongated supply chain of prospects and candidates. Knowing how to combine the way each source influences others to contribute to an outcome – a quality hire, would mean better budget decisions.
The trick is measuring how these different source elements interact.
In our most recent study of 185,000 hires, SOH 2013: Perception is Reality, we concluded:
- - Big Bad Data. Collection methods and the statistics to assess them have not kept up with the explosion of channels and their relationships.
- - On-Shoring May be the 2013 trend of the year. Employers, in January, told us they expected to hire 17.5% more US F/T employees this year than last. Lately that prediction is looking more and more accurate.
- - The #1 Source of Hire, at least for large, highly competitive industry leaders is right under their nose (not employee referrals but current employees who fill 42% of all the openings).
- - However, Employee Referrals, which come in at about 25% of the remainder, are as important as ever. It’s just that firms are more likely to attribute a hire to a referral than identify al of the other sources that contributed to the referral, in the final analysis, happening.
- - Social Media and other Source of Hire Categories are NOT independent of each other. In fact, social media probably is the underlying influence leading to 7 of 11 categories of ‘sources’
- - Job Boards are NOT Dead; they are evolving…and evolving quickly.