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Welcome to SilkRoad Source Effectiveness 2014
• Complete End-‐to-‐End Talent Management Suite • Launched in 2005
• Headquartered in Chicago, IL with 19 addiBonal global locaBons
• 2000 Customers Worldwide
• Over 500 employees globally
• Named one of the "Best Medium-‐Sized Companies to Work for in 2014" by Glassdoor
Life Suite Talent Portal
Life Suite System of Record & Data Management
Our Solutions
Learning
Performance
Onboarding
Recrui<ng
Customer Content & Integra<ons
HRMS
Speakers
Thomas Boyle Director, Product Marketing
Michael Goldberg Director, Talent Acquisition
Todays Workforce
11.6 million Unemployed in U.S
32 % Lack of available candidates
Path to Improvement
-‐-‐ CareerBuilder 2013 Candidate Study
Your Workforce
77%
23%
Full-‐%me employees ac%vely searching for a new job or open to new opportuni%es
Searching Not searching
Key Research
1140 Organizations shared their job and
candidate data.
Scope of Research
More than 10 Million Applicants
150,000 Interviews &
Hires
The scope of the sample is significant in both its size and its depth of recognized employer brands
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What Makes this research Different?
The findings are based on primary data drawn directly from applicant tracking systems.
The methodology that underpins this report is vastly different in three fundamental ways:
1 Online source data is based on automated source tracking (further eliminaBng bias) 2
3
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What is Automated Source Tracking?
ATS provides primary source data automaBon, by defaulBng the candidates selecBon from their apply locaBon.
ATS hides and locks pre selected source data removing any subjecBvity or interpretaBon on the part of job seekers applying from online sources.
Poll How do you measure source effectiveness in your organization?
a) Candidate Submissions b) Candidate Interviews c) Candidate Offers d) Candidate Hires e) Not sure
13
Four metrics are commonly used to measure source effectiveness: applications, interviews, offers and hires.
Our Clients Said:
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Interviews and Hires.
Determining Source Effectiveness
Internal vs. External Sources, What's the difference?
15
Examples of external sources include: • Specific job search engines • Branded and unspecified job boards • Print adverBsing • Job fairs Examples of internal sources include: • Referrals • Inside hires • Walk-‐ins • Company career sites (employer websites)
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Internal vs. External
50% 50%
Interviews
41%
59%
Hires
External Internal
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Internal - Interviews
57%
33%
6%
1%
1%
1%
Employee Referral
Customer Career Site
Current Employee
Former Employee
Walk -‐ In
Recruiter Sourced
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Internal - Hires
61%
26%
8% 2% 2% 1%
Employee Referral
Customer Career Site
Current Employee
Former Employee
Walk -‐ In Recruiter Sourced
Job Boards & Search Engines
History of Job Advertising
1994
1994
1996
2004
Snag a Job 1999
LinkedIn 2003
2005
Top Job Boards - Interviews
39%
15%
12%
11%
2%
Top Job Boards - Hires
32%
13%
11%
14%
2%
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Boards & Engines Interviews/Hires
Indeed 48%
Interviews
Indeed 45%
Hires
80 Million Unique visitors and 1.5 billion job searches per month.
90% OpenHire Customers
53 Countries
Percentage of OpenHire customers raBng Indeed as in their top 5 candidate sources.
Indeed Stats
Online - External
45%
13%
12%
5%
5% 4%
2% 1% 1% 1% Indeed.com CareerBuilder Unspecified Job Board Craigslist Linkedin Monster Simply Hired Seek DICE SnagAJob
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Top 10 Overall Sources of Hire
Employee Referral
Company Website
Current Employee
Recruiter Sourced
3)
2)
1)
4)
5)
Spotlight – Campus Recruiting
Brighter Picture for the Class of 2014
Campus hiring has been flat over the past few years, with many college graduates working part-‐Bme, living at home, returning to graduate school, and postponing career plans while waiBng for the market to improve. As economic
indicators signal growth, recruiters will turn to the campus as a recruitment source.
4TH External Source of Interviews
and Hires
Take Away #1
Automated source tracking is critical to ensure your source data is accurate.
Recruitment advertising budgets and source effectiveness are general
viewed as as one-time annual events, not continuously adjusting strategies.
Key takeaway: Partner with your Applicant tracking system to review your source library and
implement automated tracking when possible.
Take Away #2
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Evaluate/Create and effective employee referral program
Employee referrals have shown to not only have the lowest cost of hire but in many cases they are also the employees with the greatest
retention rates
Key takeaway: Provide your employees and candidates the tools they need to easily make
employee referrals..
Job Search Engines are outperforming and changing the way we view Job Boards.
Job Search engines are producing great results and at lower cost. SilkRoad distributes jobs for free to several Search Engines delivering
great results across regions.
Take Away #3
Key takeaway: Partner with your ATS to see if they have any free job distribution channels
available. Review your results and consider a job search engine.
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Networking & Employee Referrals
Do I know anyone that can help me find a job? Maybe I should reach out to my
LinkedIn network .
Company Career Site Where do I want to work ? I'm
going to explore the best place for me, and look directly on their
website. Job Boards Maybe I should brush off my job board accounts and start
searching.
Social Media Is social media the right place to look? I think i saw a job in my twifer
feed.
67%
65%
61%
44%
38%
14%
Company Web sites
Job boards (CareerBuilder, Monster, Craig’s List, LinkedIn, Glassdoor, etc.)
Referral from a trusted friend
Job search engines (Indeed, SimplyHired, etc.)
Recruiters
Search engines (Google, Bing, Yahoo, etc.)
Where are candidates looking for opportunities?
How are candidates searching?
86% Computer
9% Tablet
5% Smart Phone
Social Networking Sites for Job Leads
86%
18%
7%
19%
Other site
Social is for everyone?
Know your Audience
Make it easy to connect & share
Poll
Would you consider LinkedIn a Job Board or Social Media site?
a) Job Board b) Social Media c) Both
38
35%
34%
9%
10%
Very likely
Somewhat likely
Somewhat unlikely
Very unlikely
How Likely Are You to Refer A Friend to Your Employer
Employee Referrals
Referral Bonus Offered?
53%
38%
Yes
No
Poll Question
Do you offer employee rewards for referrals? If yes than what?
a) No we don’t offer any rewards b) Yes we offer cash c) Yes we offer other rewards
How candidates refer friends
40%
33%
12%
2%
2%
Face-to-face
Company Website
Preferred Method for Applying
48%
37%
8%
Applying on a company’s Web site.
Emailing a letter and resume. Apply in person.
In Their Own Words: Respondents Comment on Recruitment
“The company never acknowledged the receipt of my resume or applicaAon.
NoAficaAons would be ideal: First, when your applicaAon is received, and second, when the job is filled.”
“I felt like I was being herded like caLle through the interview process”
“ANer the interview, I never heard from the organizaAon again.”
“It feels like your resume was dropped into a black hole .”
Does web-based recruiting positively affects Impression of Company?
53% Yes
21% No
Takeaway #4
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Embrace Technology
Nearly half the respondents (48%) indicated that they preferred to apply for a job through a company's Web site and the majority (53%) indicated that
Web-based recruiting technology would positively affect their impression of a company.
Key takeaway: Leverage technology in order to provide online methods for candidates and to Apply and get updates on where they stand in the hiring process in addiBon to when a
job has been filled.
Takeaway #5
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Hope is not a strategy
Don’t just post your jobs and hope that candidates find them and understand why they should work for you and not your competition. Companies can develop a value proposition that presents the characteristics candidates
regard highly.
Key takeaway: Leverage your brand and your career portal as a way to engage candidates and
drive them to the best career opportunities and content to help power the decision making process for candidates .
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Summary
Automated Source Tracking 1
2
Create and effecBve employee referral program 2 A strong job distribuBon service that pushes jobs to top performing job search engines 3 Embrace Technology 4 Create and Engaging Candidate Experience 5
QuesBons?
For More Information
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To see a demonstration or download the complete source report plus case studies, videos, and research reports please visit: from www.silkroad.com
Thank You
Michael Goldberg Email: [email protected] Twi^er: @superrecruiter
Thomas Boyle Email: [email protected] Twi^er: @silkroadtom
