Exposed: The True Sources of HiringComments Off

Recruiting Metrics

Recruiting MetricsRecruiting metrics – a great debate.  For years, dialogue around the most effective source of hires has been a hot topic, while true (indisputable) candidate source data has been lacking.  From poor ATS capabilities, to candidate self reported data on the amazing question the industry wasted years on… “How did you hear about us”? Like we expect(ed) candidates to remember if they started their search on google, a job search aggregator site, a job board, a social or professional network, or a corporate career site..

A lot of progress has been made the past 24 months with regards to more tracking and intelligence about where hires are coming from (online), and the effectiveness of these sources.  A great example of this is the Jobs2Web Recruiting Dashboard. Marry this information with post hire details, and the possibilities completely open up to have the “quality” conversation.

I recently had the opportunity to discuss the recruiting results with a group of recruiting leaders – and their online recruiting results.  Disclaimer:  These results look at referring sources online. This information encompasses results from several organizations, encompassing thousands of hires over the past 6 months. These results are from “online sources”, and do not include internal hires or employee referrals.  Hires are from all levels – entry level to executive, and are across multiple industries.

Here are 6 examples of what the data shows:

  • Job seekers who start their search on a search engine, are 30% more likely to complete the application process once started – when compared to those that arrived at a companies corporate career site from a job board.
  • Candidate quality is 25% higher from those who start their search on a search engine, vs. those who landed on a companies’ career site via a job board.  Candidate quality is defined as meeting the basic job qualifications.
  • Job aggregator sites have by far, referred a majority of the traffic (volume) to corporate career sites than other online sources, YET have nearly the lowest visit / apply to hire ratios.
  • Talent pipelines or “communities” are always a topic of conversation.  When looking at members of a community (and the online referring source they came from), subscriber to hire ratios average 4-5 times better when comparing corporate career sites to job boards.  The number (subscriber to hire) significantly decreases when comparing the ratio to aggregator sites.
  • Google as the starting point for a job seeker, has one of the highest “offer to accept” ratios, compared to other online sources.
  • Social and professional networks performed fairly strong, yet the volumes (as a referring source) are not as significant compared to others.  The data suggests the critical nature of having a presence on these sites is for branding and engagement – and building a community vs. a quick need to fill a job requisition.

There are a variety of online sources recruiters and leaders select as part of their overall strategy.  While there are many factors to consider and there is no silver bullet here, management information such as this is more valuable when looking at overall recruiting spend – compared to the results.

I recently caught up with Doug Berg, Jobs2Web Founder and Chief Recruiting Geek to get his take.  Here’s what Berg had to say:

The number of sources for candidates will continue to grow and become more fragmented – so getting infrastructure into your recruiting “apply chain” is going to be critical to measure all of the possible sources candidates arrive from. Finding key process flaws is going to also be critical – and knowing what KPI’s are causing the drop-off will matter.

While there are multiple dimensions to converting a career site visitor to a hire, successful organizations will have a strategy and action plan in place to analyze both the referring source in addition to other influencers throughout the process that convert any hire.

Data is just that..  Data.  Yet it is great to have the information needed to have performance-based conversations with vendors and providers.

For services recruiters pay for, we’ve excluded the vendor names.  That won’t be the case in future posts as we’re just getting started on this topic, and will be taking a closer look at multiple online and offline sources. And later this fall we’ll be taking an in-depth view of quality of hire measures from these sources.  If you are interested in participating in these conversations and have advanced analytics – and “post hire” information available, please email me.

About Jason Buss

Talent HQ’s creator and editor is Recruiting & Diversity Leader, Jason Buss. Talent HQ is a premier online news and information channel for the Recruiting and Human Resources community.

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  • Posted on: Tuesday, July 12th, 2011