Logitech’s Worldwide Staffing Director, John Zwieg, describes how his recruiters receive qualified applications through the LinkedIn Jobs Network.
A recent LinkedIn report on recruiting details how corporate recruiting professionals are doing business in tough economic times and preparing for the recovery. The recession, the rise of social networking, and an increase in the use of technology are three key factors influencing current trends in corporate recruiting. With tightening budgets, spending has been shifting from 3rd party agencies and job boards, to corporate websites, employee referrals, and Professional & Social Networks. About 30% of companies plan to spend more time and money on Professional or Social Networks.
While it is important for corporate recruiters to be more efficient with their budgets, it is crucial that companies nurture a strong talent pool in preparation for the recovery. Survey results show that LinkedIn is the main avenue for building relationships with passive talent. In addition, recruiters indicated that building a strong employment brand is an essential and long lasting trend in recruiting.
The full research report addresses the following topics:
In the video below, Trimble’s Director of Staffing, Bob Spoer, details how LinkedIn Recruiter helps him find senior executives and other staff worldwide, saving his company around $800,000 in the first 17 months of use. With this LinkedIn recruitment tool, Bob sourced 6 executive roles that otherwise would have been farmed out to executive search firms. In addition to saving money, Trimble is finding that employees sourced through LinkedIn Recruiter are higher quality, a better fit for the company, and have lower turnover than other methods of sourcing.
LinkedIn is quickly making inroads into the largest companies in the US. As of Aug. 2009, 40% of Fortune 100 companies are using LinkedIn Talent Advantage recruiting solutions to source and hire candidates. This is impressive considering that LinkedIn Recruiter, its flagship product, was only introduced in Feb 2008.
You may be surprised at the diversity of LinkedIn customers. These Fortune 500 customers represent every industry category and include companies such as Kraft (Consumer Products), Lockheed Martin (aerospace), EMC (technology), Intuit (Software), Allstate (insurance), and ConAgra (Food & Beverage). These companies are sourcing passive talent directly using LinkedIn Recruiter.
Broadbased adoption among the Fortune 500 group shows that US companies fully recognize the leading global professional network’s unmatched ability to help them find and hire top passive candidates and save significant amounts on 3rd party agencies and traditional job boards. As discussed in a prior blog post, LinkedIn is a fertile source of passive candidates - with over 24 million passive candidates according to a recent LinkedIn poll.
Challenger, Gray & Christmas released results from a survey of HR executives, asking them to rate the effectiveness of various job search methods on a scale of 1 (least effective) to 5 (most effective). The results show that networking both offline and online (on sites such as LinkedIn) were the most effective methods with average ratings of 3.98 and 3.3, respectively. Responding to newspaper classified ads (1.7) and attending job fairs (1.6) were the least effective.
Here is the ranked list of all the job search methods asked in the Challenger, Gray & Christmas survey
While this ranking represents the effectiveness of job search methods, HR executives likely answered the question based on their experience sourcing candidates. We believe this ranking also represents the most effective methods for sourcing candidates. Here are our thoughts on the topic:
Traditional networking lives on
Traditional networking represents the old model - it’s “who you know and how well”. If you are not connected, you will have trouble even coming up with candidates names. However, traditional networking has its drawbacks - lacking scale, efficiency and discoverability. Finding the right target is the first hurdle for traditional networking, requiring a lot of time, phone calls, emails, etc. to see if anyone in your extended “offline network” has the background and qualifications you are looking for.
Social and Professional networks represent the new way of doing things
“Who you know and how well” is still very current, but the the second part of the proposition, i.e. “how well”, is increasingly becoming the real differentiator. Indeed, now anyone can find target names with tools like LinkedIn Recruiter.
Not only will LinkedIn help you find candidates, it will also help you jump-start the conversation. Locking in the best candidate for a job is beyond just identifying a name. The real value-add is finding a way to engage the candidate and start a conversation - building the best story or angle of approach. We consistently hear from recruiters that the response rate is very high for contacts via LinkedIn InMail. LinkedIn members are receptive to having conversations about networking or job opportunities.
So, if online networks are so great, then why does traditional networking still rank the highest?
Well first, because there are still a few people out there who have not fully understood the value of professional networking yet and have still to create a profile on LinkedIn, despite all the success stories. With about 2 million professionals signing up every month, this is changing very quickly though.
Second, having a strong network is still indispensable to find out who are truly the best people (and employers).
Third, your network helps you get an introduction to the target candidate so the first call is a warm call.
Lastly, your network helps you be a better informed and connected professional overall (the best recruiters are the ones who understand their companies and businesses best).
The smartest recruiters realize that online and offline networking are not mutually exclusive and that the internet helps augment their ability to maintain relationships and efficiently reach more candidates. For every person that you meet offline, they have a whole network of people online who you can reach through them. Recruiters that utilize online networks will have a competitive advantage over the folks who don’t adapt to the changing landscape.
What do you think is the most effective job search method? Leave us a comment with your answer.
