Most employers have not considered the correlation between ROI for employees and the source of hire. In a recent survey of eighteen thousand recruiting leaders from around the world, 64 percent of global recruiting leaders believe they could do better on following the ROI for sources of hire.
The surveyed asked them, "How significant were each of the following as a source of white collar professional candidates placed by hires for your organization in the last 12 months?" Fifty-nine percent listed social professional networks as one of the top sources for making quality hires.
Here’s eight top reasons to source passive candidates with social media. Social is:
1. A Top Source for Qualified Candidates
Social media has been one of the three top sources of qualified candidates for years.
2. The Most Untapped Resource
Recruiting agency professionals named social media as the top untapped resource. While significant growth for utilizing social for recruiting, agency professionals still see social media as the largest untapped resource for firm growth. The second was emerging technologies. Yet social media is also listed in the top five challenges for recruiting professionals.
3. A Top Source for Top Candidates
Recruiters listed candidates sourced from social media as the third best source of candidates, third to referrals from placements and existing candidates from ATS.
4. Discerning Personality Fit
Executive search firms have found particular success in sourcing with social media, a recent survey found. They said that personality fit and other factors are more evident through social profiles than through resumes. Also candidate history and personal motivators are clearer through social profiles.
5. Common for Recruiting Professionals
Ninety-three percent of recruiters either use or plan to use social for recruiting talent.
6. Could Save You from Bad Hires
Fifty-five percent of recruiters admit to reconsidering a candidate after looking at their social profile.
7. Fastest Growing Source for Quality Hires
Social professional networks are the fastest growing source for quality hires around the globe, increasing 73 percent in the last four years.
In the last four years, social professional networks have grown more than any other source (compared to employee referral programs, company career websites, job boards, and internal hires).
8. Great ROI for Quality and Quantity of Hires
A recent survey completed by 4,125 talent recruiting decision makers in 31 countries (the largest survey of talent acquisition leaders in the world) reveals that the best ROI for both quality and quantity of hire based on source is:
- Internet job boards
- Social professional networks
- Company career website
That means that these three sources yield a high ROI for new hires. Number two and three on the list is social professional networks and company career websites, which means that when you’re recruiting passive candidates, they have a high ROI.
What other reasons should we include in this list? Drop us a line.
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