The 2013 Source of Hire (SOH) Study takes a look at hiring from the employer’s side of the fence, capturing information from 37 organizations who filled 185,000+ positions in 2012. The authors acknowledge the sample size is small and subject to bias, but the volume of openings is noteworthy and provides insight to how large organizations in particular are hiring.
The study reveals:
- Staffing leaders are predicting an increase in full-time hiring with plans to fill 17.3% more positions this year (over 2012).
- 41.5% of all the openings are filled by internal movement, suggesting that getting a foot in the door on a contingent/contract basis could pay off (14% of an employer’s workforce is designated as contingent according to the authors).
- 24.5% of hires come from referrals and constitute the most important external SOH.
- 18.1% of hires come from job boards. Aggregator “Indeed” is attributed as a SOH as often as the next three job boards (Monster, CareerBuilder and Simply Hired) combined.
- 2.9% of hires originate from social media with LinkedIn topping this group. “For Social Media sites like LinkedIn, firms are both aware and use them extensively even though the hires they influence might be actually attributed elsewhere. For many areas of social media firms are still in the exploratory phase.”
For results and a break down of all sources and percentages, see pages 6-8 of Sources of Hire 2013.
Are You Asking For Referrals?
One important finding from the SOH study is the increased chances of being hired when you are referred ….. by the order of three to four times.
This interesting fact was also found to be the case in the Candidate Experience Study in which 90 employers of all sizes and 17,500 candidates participated.
Furthermore, more than half of candidates surveyed (53%) revealed the existence of a relationship with the company prior to applying, either as a customer, advocate or with family/friends already at the company.
If you are currently in career transition:
- Be sure to network within the organization (versus apply and hope for the best).
- Ask company insiders if there’s an “Employee Referral Program” within your target organizations, as well as those to whom you’re applying.
- Ask your network contacts to formally submit you through their referral system if one exists. Often, employees can also access internal postings for opportunities that are being advertised internally to give you a heads up before they are posted externally.