iCIMS Hire Expectations™

As we reflect back at last year’s hiring data, iCIMS wanted to provide a glimpse at where our clients were finding their most qualified applicants across the different sourcing tools available today. In order to provide the most current and comprehensive data, we analyzed our 1,500+ clients’ source effectiveness reports. These reports assess recruitment advertising sources and the volume of candidates coming from each. Additionally, the report highlights the quality of such sources by displaying where candidates were in the recruitment process by source (ie: Did a lot of candidates come from a given source, but all were automatically disqualified?). On the flip side, the reports show if certain sources produce candidates who move farther along in the hiring process. We took the calendar year of 2012, and compared that to our previous study done in of 2011.  The results were accurately tracked by leveraging the automated source tracking feature of the iCIMS Talent Platform. This feature takes away the risk of candidates falsely identifying their source by automatically locking in the true origin of a candidate to ensure accurate reporting. The organization’s that benefit from the iCIMS platform range in size from companies of 10 employees, to global corporations well over 100,000; ensuring our report was applicable for a full range of organizations. In total, the data provided insight from over 1.5 million job postings, 30 million applicants, and 400,000 hires.

Of the 400,000 hires, 25% came from external sources (highlighted in the graph below) ; the other 75% came from referrals, internal hires, company career sites, and undefined sources. This data is very similar to the data collected last year (29% and 71% respectively), and confirms that iCIMS clients are better leveraging the tools at their disposal to make jobs visible via their corporate and in-house portals, as well as through employee referrals to bring in qualified applicants.

Though we are thrilled to see a high number of new hires coming in from these types of sources, the data also reveals the impact of external sources in the hiring process. Of the identified external sources of hire, Indeed.com, CareerBuilder, Monster, Craigslist, Linkedin, and Simply Hired, emerged as the top branded external sources of hire with sources such 3rd party recruiting agencies,  job fairs, and campus recruiting also making the list. Indeed alone accounted for more hires than all other branded sources combined and stood far out from the pack, delivering 27% of all external hires. Career Fairs also saw substantial uptick from last year leading us to believe that the economic climate is beginning to look up, and more recent graduates are finding jobs from these sources.

As we look back at where new hires came from in 2012, a few things are clear. The first is that our clients have continued to utilize the tools that are available through the iCIMS Talent Platform to effectively source out and recruit the best candidates. The second is that the external sources that were being used last year are still being used today, but in higher volumes, and lastly the sources may be the same, but the number of new hires has increased by over 25% leading us to even further suspect that many companies are starting to expand their recruitment strategies.

In anticipation of iCIMS’ 9th annual Customer Advisory Council, our team conducted a study to identify where clients were having the most success finding and hiring qualified applicants.

In order to provide the most current and comprehensive data, we analyzed our 1,200+ clients’ source effectiveness reports. These reports assess recruitment advertising sources and the volume of candidates coming from each. Additionally, the report highlights the quality of such sources by displaying where candidates were in the recruitment process by source (ie: Did a lot of candidates come from a given source, but all were automatically disqualified?). On the flip side, the reports show if certain sources produce candidates who move farther along in the process. We pulled 12 months of candidate source data from August 2011 through July of 2012 that was accurately tracked by leveraging the automated source tracking feature of the iCIMS platform. This feature takes away the risk of candidates falsely identifying their source by automatically locking in the true origin of candidate to ensure accurate reporting. The organization’s that benefit from the iCIMS platform range in size from companies of 10 employees, to global corporations well over 100,000; ensuring our report was applicable for a full range of organizations. Combined, the data provided insight from over 1 million job postings, 25 million applicants, and 285,299 hires.

This is the first time that iCIMS has taken an in-depth look at just where our clients are finding their new hires. We believe, at iCIMS, that this will provide a great deal of valuable information for those clients. Of the 285,299 hires, 29% came from external sources; the other 71% came from referrals, internal hires, company career sites, and undefined sources. This is extremely exciting news because this confirms that iCIMS clients are better leveraging the tools at their disposal to make jobs visible via their corporate and in-house portals, as well as through employee referrals to bring in qualified applicants.

Though we are thrilled to see a high number of new hires coming in from these types of sources, the data also reveals the impact of external sources in the hiring process. Of the identified external sources of hire, Indeed.com, CareerBuilder, Monster, Craigslist, Linkedin, and Simply Hired, emerged as the top branded external sources of hire with sources such 3rd party recruiting agencies,  job fairs, and campus recruiting also making the list. Indeed alone accounted for more hires than all other branded sources combined and stood far out from the pack, delivering 77% more hires than the second highest external source.

As iCIMS ramps up for our advisory council, we are extremely excited to share and discuss this useful data with our client base, combined with the new and exciting features our roadmap provides for the coming year. Our clients will be given invaluable tips on how to fully incorporate both the new functionality and research findings to optimize their recruitment strategy overall.

It’s no surprise that college students are graduating and finding that the job market isn’t as welcoming as they had initially hoped it would be. With the percentage of unemployed and underemployed recent college graduates approaching 57%, more and more students are flocking to career fairs to have a shot at landing a job after graduation. Career fairs continue to be a great way for companies to meet educated and motivated individuals who are looking for employment.

Before your recruiters attend a college career fair, make sure they have prepared by asking themselves these vital questions.

•    Are you prepared with the most efficient way to connect and source these college students?
•    Does your company have the tools to properly handle the influx of resumes it will be receiving?
•    Can you take advantage of things like tablets and QR codes to track applicants instead of bringing home a pile or resumes?

As a student going into my senior year, the last thing I want to do is bring twenty copies of my resume to a career fair, just to have it thrown atop a pile of other resumes. I leave wondering if my qualifications will ever make it to the eyes of the recruiter who is looking to fill that position or if the stack will just be misplaced? I know that if my information is stored digitally right at the career fair, I will be entered into their applicant tracking system. These recruiters will then be able to search on my qualifications, which ultimately alleviates a great deal of stress for me, the applicant.  Having digitally stored resumes from a career fair, will enable your recruiters to make better hiring decisions and ensure you find the best applicant for the job.

Another great method for attracting college graduates is to have an impressive presence on your social media sites. Companies have started to recruit socially by distributing jobs to these sites. If you want to target the top candidates, you must have the ability to go beyond your direct contacts and followers. A great way to do this is through employee referral programs. Reaching out to your employees’ contacts that are searching for new jobs automatically enhances your applicant pool with applicants you may never have been able to reach. Having employees post jobs on social media has been proven to bring in more employee referrals, sometimes 4 times as many before posting to social media! If your company isn’t ready for social media recruiting, you may be missing out on the ideal candidate for your organization.

It’s easy to assume the recruiting programs you have in place for hiring entry level positions are sufficient, but the most qualified candidates are going to be attracted to the companies that establish a presence at college fairs and on social media. Job boards are becoming a way of the past, with social media essentially taking over recruitment initiatives. Today, companies need to make themselves known to college grads and sell themselves to the applicants in order to hire the best candidates for their jobs.

According to Merriam-Webster Dictionary, networking is:

1. the exchange of information or services among individuals, groups, or institutions; specifically: the cultivation of productive relationships for employment or business

Rather rudimentary, don’t you think? Basic, yet terrifying...We all hate networking, excluding the lucky few of course. It may be the fear of being awkward; the fear of offending someone; the fear of embarrassment or just plain laziness. But it is also this same fundamental process that lands people jobs, among other benefits. According to a SHRM poll, 75% of the firms accounted for cited networking as the recruiting method in place.

Kelly Moeller points out just how important networking is in the business world for those searching for a new job in her informative blog post. But there is one more important aspect to networking: professional development. Think of a recent blog post you read or an interesting article that a friend told you about. The depth to which knowledge can be incepted is immeasurable.

Well, as we all know, technology has made networking a whole lot easier. With the injection of “professional networking service” sites into mainstream culture, people are better able to network with one another (arguably) due to the stress-free environment, zero time pressure and opportunity to carefully exchange business ideas or knowledge with one another. When you have the time and when you feel comfortable, you can respond. Moreover, you can give back to not just one person, but hundreds of thousands of people. But this is two-fold, without user participation, these professional networking service sites would be useless.

It’s much easier than it used to be, so let’s all get out there and start networking today!

Speaking of which, if you are in the NYC area and are looking to network with other HR professionals, check out the iCIMS NYC Networking Group, where you will have access to informative articles and white papers, great discussions, and most importantly, speak with some of the greatest HR thinkers in New York. If you aren’t in the New York area but still want to network, check out iCIMS 10th Anniversary to register for a networking session near you. Network in Denver on June 3rd, in Philadelphia on June 15th and in California on June 28th.

Also, stay tuned for an iCIMS Networking Group in your area!

Yesterday, while sitting on Northeast Regional Amtrak train 186 from Washington DC to New York City, I had three hours and twenty eight minutes to reflect on the iCIMS User Group Breakfast I had just attended. Similar to User Group Breakfasts in the past, this event brought together 31 of iCIMS’ leading users in the DC area for a networking event and thought-provoking round table discussion. The breakfast focused on the theme “Evolving Strategies for Talent Management in the Coming Decade” and round table discussion topics ran the gamut. From OFCCP compliance to onboarding, Going Green, social media and performance metrics, the user discussion touched on all aspects of talent management.

Riding on the train, I found my thoughts drifting back to one topic in particular – Employee Referrals. A large portion of the round table discussion unexpectedly focused on leveraging employee referral programs. While I am familiar with a wealth of analyst research that highlights the benefits of employee referrals, I was taken aback by the inherent value iCIMS’ customers experienced from their individual employee referral programs. The round table discussion moderator went as far as to say that 53% of her organization’s new hires come from employee referrals.

Research has shown, and yesterday iCIMS users reaffirmed, employee referral programs are a cost-effective way to hire qualified talent. In addition to reducing cost-per-hire metrics by eliminating the need to post open positions to job boards, time-to-fill metrics are often significantly lower for positions filled by employee referrals. Perhaps the most important aspect of employee referrals is the caliber of candidates they produce. When comparing an employee’s original source of hire to subsequent performance assessments, iCIMS users found that employee referrals were their top source for the highest performing employees. After all, a current employee is often reluctant to refer someone to a position if they think that candidate will reflect poorly on their professional judgment.

After discussing the benefits of an organized employee referral program, the discussion transitioned to how iCIMS’ Talent Platform can streamline and automate the process. While many organizations in attendance were already leveraging their iCIMS Talent Platform to support their referral program and experiencing significant time savings, some were still managing the referral program manually.   Those organizations with automated referral programs discussed the benefits of sourcing clients directly from the employee referral portal and tracking the referral payouts. Clients also spoke of recruiters who were once over-whelmed with manually tracking referrals now having their workload cut in half thanks to iCIMS. iCIMS’ referral functionality also encouraged employees to refer more candidates for jobs because it automated the process, providing them with a simple way to submit and track their individual referrals.

For those organizations that realize the inherent value of employee referrals but are still managing their program manually, I encourage you to look into iCIMS employee referral functionality. iCIMS’ robust Talent Platform can easily be configured to support any referral program, big or small. My experience at yesterday’s user group breakfast cemented my belief in the value of an organized employee referral program.

It's the middle of summer in iCIMS-land and most of us are longing for the beach: sitting under the cloudless sky, reading trashy novels and watching seagulls steal our sandwiches. Don’t be fooled though, there’s always staffing work to be done, and summer is a fantastic opportunity for any business seeking seasonal employees. Whether it's a law firm looking for summer interns, a tax preparation company getting income tax specialists during April, or a retailer looking for help on the floor during the holiday season, there’s always a need for seasonal hires. In fact, according to a CareerBuilder study, 34% of retail employees during the summer are seasonal hires.

While it’s always tempting just to get out of the office, there may not be enough time to sort through all of your incoming applications, emails, and paperwork as it is. But let’s step back: if you’ve done the right work, started your game early and have staffing plans in place, you deserve that cool drink by the shore. Now, while we’re not ashamed to toot our own horn here at iCIMS and say we’ve got a pretty comprehensive solution for seasonal and mass hiring needs, there are a couple of tricks that might even go beyond software.

For example, this AllBusiness article has some pretty good ideas for getting young talent. Since many college and high-school students have time-off during the summer, they’re usually a good start. Think of a plan to raid the local schools and universities, and do it early. While there are plenty of students willing to put in summer work, you need to give yourself enough time to evaluate your need across these applicants. Checking Social networking sites such as Facebook and MySpace is also a good idea to find driven workers. You might also find plenty of retirees looking for work as well, so be sure you tap into these circles, as well.

Another valuable pieces of advice is to encourage referrals. If you have happy, dedicated employees already, why not let them help source your candidates? Referral programs are typically cheaper and more efficient than other means of sourcing, and they can boost morale across your organization. Many employees wouldn’t mind working along a friend or two, and if these are quality employees they’ll likely supply quality referrals. After all, your workers certainly want to look good within your company - and make a little bit of the referral bonus you’re offering. (You are offering one, aren’t you?)

Remember, your organization’s success depends on how it responds to industry trends and demands. And if you prepare with the right mix of workers at the right time, you can stand on solid footing as a recruiter, even wearing sandals and a pair of sunglasses. But don’t get too comfortable – the holiday shopping season is only 4 months away!