1. 65% of all positions are filled with internal movement or internal referrals. More specifically – 27.5% were filled with internal referrals.
2. Job Boards contribute candidates to 75% of the requisitions
3. 38.9% prospect and manage candidates via social media, and 36.1% are not involved in Social Media or pipeline development.
So what do we need to be doing in recruiting? Now is the time to be modeling what the next two years is going to look like in terms of ramped up hiring, with the realization that the labor pool is going to get smaller and more competitive. Here are some suggestions.
1. First look at your internal placement and referral rates. If you are not meeting the above benchmarks – then spend time on developing and funding an internal referral programs. This is the most efficient way to get jobs filled and should be one of your foundations. In my time, when referrals programs have not worked – it usually was due to four reasons:
1. Lack of awareness of the program (hidden within a division, or too narrowly focused on certain job families)
2. The program was too complicated to submit names or resumes. I have seen some that required all sort of data (to include the candidate’s birthdate). That one program was trying to automate the matching, but ended up making it to complicated.
3. Payment – make sure the payment is interesting ($500 to higher for each role)
4. Make sure payment is done, and celebrated! I have seen organizations that fought payment on referrals saying candidates had already applied, etc.. and while standing behind failure to use the process – it in turns creates a perception that the program is not worth it and there is a lack of desire to pay.
2. Look at your hiring needs, and projections over the next 12 months based on strategic planning. (if you can project further – do it!). Also identify specifically, key pivotable roles that will be critical to your organization. These are often not exec roles – for instance, it could be front line management, or roles that require certifications. Once you get the projections – do the following:
1. Look at the historical data on how you previously filled the role – how much active, internal, and passive candidates?
2. Now assume the active candidates will drop by 50% based on demographic changes.
3. This should give you what your candidate pipeline is going to look like, and what your sourcing needs are going to be.
3. The above data will help you look at your recruiting delivery model, but I am assuming you have some perspective of current recruiting time per req type (exempt, non-exempt, etc.). But likely you are to see the following operating model start to uncover:
1. Make sure you are “maxing” out job boards and postings – so you should have budget for increasing your spend if you are not using this today. This also may result in admin staff unless you are using a posting agregattor tool in your ats.
2. Sourcing – With the decrease in active candidates, your need to identify passive candidates for the pivotable roles is going to be crucial. So are you staffed to build your pipeline – and is it efficient? Just a suggestion – but don’t use a 70K recruiter to source for your talent pipeline.
3. Recruiters – make sure to separate sourcing from recruiter – otherwise you will overstaff on the recruiting side.
4. College recruiting – you may find that there are certain roles that you have historically had difficulty filling, in which case, you may want to look at what your college pipeline looks like. Most likely, firms that have stopped college recruiting – will need to tactically get back into the game. This is my personal favorite as it is often a sign of a very strategic workforce plan. I have worked with some clients who know there are specific roles that will be hard to fill – and they are sponsoring chairs, scholarships, and intern programs with college programs that are aligned with the hiring needs.
The above are some of the basics, so if you have tackle the above – Congrats! Then the key is going to be tweaking the programs. If you have other suggestions – let me know.