Top Sources of Candidates

One of the most frequent questions we get asked is where most companies find good candidates. It’s a complicated question, partially because the recruiting industry is undergoing a period of rapid change, but the very best options remain close at hand. From our experiences in working with the job board industry and through HiringThing customers, here are a few trends we are seeing, and recent studies seem to be adding further evidence:

• Internal and external sources generally account for approximately the same amount of interviews, but when it comes time to hire, internal sources seem to generate higher quality candidates .
• Referrals account for the majority of internal sources for interviews and hires.
• Online sources, like job boards and search engines, accounted for nearly all the interviews and hires from external sources. Other methods, like job fairs and newspaper ads, are rapidly fading.
• Indeed is one of the largest and most effective sources for new applicants.
• Most companies get the most candidates and hires from their own company website, either by referral or by driving traffic from online sources.

So what does that mean for you? There are many nuggets to extract, including:

• It pays to create an effective careers section on your own company website.
• Having a solid referral program in place at your organization is vital, and there are ways to harness online sources into your referral program.
• Indeed is changing the job board market, as further evidenced by the fact they overtook Monster as the the most trafficked single online source for job openings.
• Job search engines are a more effective source of interviews and hires than traditional online job boards.

Some of this might not be new to you, but it does highlight a few emerging trends. Traditional job boards, much like traditional advertising of 15 years ago, are fading in popularity. Social media is fast becoming the most effective way to externally search for quality talent. And yet with all the new emerging technology, a solid referral program still remains the pillar from which a solid recruitment plans are constructed.

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