CareerXroads, a staffing strategy consulting firm, recently released the results of their 9th Annual Source of Hire Survey. Forty-one highly recognizable retail, technology, transportation, manufacturing, pharmaceutical, and finance firms participated and revealed their methodology for filling a total of 176,420 open positions.
The results show that while most positions were filled by internal transfers and promotions (51 percent), the greatest number of hires for the remaining 49 percent of open positions were filled by employee referrals (26.7 percent ). This sourcing strategy eclipsed other sources for external hires including finding people who applied to the company career site (22.3 percent), posted via a job board (13.2 percent), or applied through other traditional methods of sourcing including college fairs, career fairs, and print advertising. In addition, the research shows that referrals yield an average of one hire for every 15 received. With odds this good, the likelihood that an applicant who is referred in will at least be considered is too high for any job seeker to ignore.
These findings certainly suggest that the best way to find your next job is through someone you know. Which means that building and nurturing your network is frequently the best way to optimize your search time and land faster. With the proliferation of social media platforms such as LinkedIn, Facebook, and Twitter, getting to know decision makers is easier than ever. If you are in a job search, ask yourself who do I know, who should I know, and what tools can I leverage to make more connections and accelerate my search. By doing so, perhaps you can become part of that 26.7 percent who are "searching smarter" and finding their jobs through employee referrals.
Download the 9th Annual Source of Hire Survey
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Barbara Safani
Barbara Safani, owner of Career Solvers, has over fifteen years of experience in career management, recruiting, executive coaching, and organizational development.
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