In 2013, the HR world flourished with more and more companies hiring and continuing to grow. For example, according to our data, over 200,000+ more people were hired this year by iCIMS clients compared to 2012. As we look at the big picture, some major hiring shifts emerge. By taking a look at the hiring trends over the past year, we can provide insight into where our clients found their top quality source of hire and learn how to leverage that information in future recruiting strategies.
Tapping into our client base, we analyzed over 2,000 clients’ source effectiveness reports. These reports show the recruitment advertising sources and the number of candidates coming from each. They also looked at the stage in which each candidate moved into the hiring process and whether they were ultimately accepted or denied. By comparing this report to previous years, a pattern starts emerged.
The report results were gathered through the automated source tracking tool inside the iCIMS Talent Platform. We were able to filter out self-identified information and focus instead on the true origin of the candidates; through source code tracking. The tool automatically locks in the true origin of the candidate and gives validity to the report. This report speaks to a wide audience as information for these reports were collected from companies ranging from small ‘mom & pop’ stores with only 10 employees, to global enterprise corporations well over the 100,000 employee mark. Overall, the data collected gave insight into over 2 million job postings, 19 million applicants, and 600,000+ hires.
Taking a closer look at the 600,000+ hires we broke down hiring sources into external and internal sources. External sources accounted for about 26 percent of the new hires (charted below), whereas internal sources like referrals, internal hires, and career sites, accounted for a whopping 74 percent of the new hires. Compared to data collected last year, we see almost identical occurrences (25 percent and 75 percent respectively last year). These numbers indicate that iCIMS clients are continuing to take advantage of the tools being given to them for outsourcing jobs via corporate sites or in-house portals.
These figures are great to see, for the sheer fact that it proves clients are utilizing our sourcing tools. However, the data also points to the fact that external forces are still playing a major role in today’s hiring process. Branded external sources stand out, with contributions from Indeed, CareerBuilder, Craigslist, Monster, LinkedIn, SimplyHired, CampusRecuriting, Facebook, Workopolis, and Glassdoor. As in previous years, Indeed is leading the way in obtaining 3rd party new hires which accounted for 30 percent of the new hires in 2013 from external sources.
Our clients are also sourcing hires through third party recruiting agencies, traditional job boards, and job or career fairs. We saw growth in the field of traditional job boards since last year with 29 percent of new hires from external sources compared to 22 percent last year. Another major statistical swing came in the form of recruiting agencies taking a hit among our clients, dropping from 29 percent of new hires last year to just 10 percent this year.
So what does this information mean, and how what can we expect in the coming years? Well first, it displays a shifting standard. Many people are now conducting independent research for jobs, so recruiters need to realize this fact and adapt. In order to capture candidates while they are searching jobs, recruiters need to focus on displaying a consistent brand across their company’s career site, social media networks, and communications, and leverage search engine optimization tools in order to better position their jobs on major search engines. In a world full of instantaneous access to information, people are going to continue to independently search for jobs; instead of waiting on a third party to present it to them. A digital presence is more important now more than ever and recruiters should focus on their overall company brand on the web to continue expanding their recruitment efficiency.