Across nearly 1,000 respondents in a global recruiting survey, conducted by Social Talent and Alexander Mann Solutions, the survey found that the average recruiting pipeline converts at a rate of 0.4 percent, meaning the average recruiter needs to find 282 candidates in order to make 1 hire.
In the average search:
• 282 potential candidates identified
• 72% of these candidates are not qualified or relevant for the position
• 79 candidates are contacted
• 22 candidates will respond
• 6 candidates will be submitted
• 4 candidates will be interviewed
• 1 candidate will be hired.
The survey concludes this conversion rate can be significantly improved by applying more effective search and engagement tactics.
While 37 percent of recruiters consider social/professional media to be their primary source for finding talent, only using online sourcing tools is not enough.
Just over a quarter of recruiters find successful hires using paid job boards, a success rate that can be improved by optimizing job postings for search engines, the survey suggests. It also suggests a recruiter or firm’s internal network can be utilized more, as just 9 percent of successful hires are found through internal referrals or alumni.
Nearly every recruiter—97 percent around the world—is using LinkedIn to search for talent. If this is your main method and you are using a LinkedIn Basic account, it might be time to hop on the paid account train, which doesn’t impose a commercial search limit.
It’s important for recruiters to stay on top of social media trends – as recruiters’ Twitter usage is dropping, Pinterest and YouTube are becoming increasingly popular. Expand your reach and find different ways – and avenues – to reach out to passive candidates.
Ultimately, recruitment remains a business about relationships. Engaging a candidate is the key to making a passive talent into an interested one. 81 percent of recruiters mainly use InMail or connection requests to contact passive candidates, and just 14 percent take the time to find an email address. The 5 percent of recruiters who pick up the phone have the highest average response rates, the survey found. This shows that recruiters must not only master online and social media sourcing skills, but put in the time and effort to build a relationship by adding a personal touch.
What do you do to maximize your time and employ effective search strategies?