We've been following CareerCrossroads' Source of Hire Survey findings over the past few years. The most recent report in 2013 yields some surprising results and interesting trends. The authors, Gerry Crispin and Mark Mehler, begin their report with the caveat that no one should assume that their findings are valid, given the flawed nature of the data available. Despite this fact, I think that some very interesting trends are emerging that the savvy job seeker should take note of. Here are some of them:
- Offshoring may be declining and onshoring growing so don't assume that, if your company is going through a transition, it will be accompanied by offshore outsourcing, as has been the case over the past few years | So keep your eye on opportunities any new merger, acquisition, purchase, or reorganization may provide for you | Talk to everyone | Get creative about your career path within the new entity!
- Job boards, particularly the aggregators Indeed.com and SimplyHired.com, account for 1 out of 6 hires, although this number is complicated by the interactions between social media and other sources and methods of job search
- Social media, although a factor in several other sources of hire, does not in itself constitute a single, pure source of hire to any great degree | We know that 92%+ of recruiters use LInkedin and many use Facebook and Twitter to validate hires they are contemplating as well as to source good candidates
- Employee referrals is still a dominant source of new hires | ERPs - Employee Referral Programs - motivate current employees to make referrals | 25% of new hires results from these referrals | One out of 10 referred candidates gets hired (!)
The really interesting new finding is that the lion's share of jobs is now filled by internal employees! Fully 42% of jobs are filled this way. You can understand the hiring authority's thought process. Employees with a good track record within the company are better bets, they reason. They require less time to acclimate to the culture and to get up to speed with how things are done in the company. Simply put, they are lower risk.
One of my recent clients who was interested in taking his career to the next level and was getting ready to leave the company for another one is now considering shifting to another position with more authority internally. This move would position him to get promoted to the level he is targeting. More and more people are finding that exploring internal opportunities may yield the career growth they are looking for. It certainly is becoming a much easier way to get a job!
What is my takeaway from this necessarily imperfect Survey in terms of how job seekers should adjust their strategies? I suggest that job seekers run, not walk, to implement the following 3-point action plan:
1. Start exploring internal opportunities | This means thinking about possible career paths within your current company that will get you where you want to go, even if it might require an interim step | Talk with HR and create a career development plan with them | Network across departments, divisions, and functions to make your next move | These contacts may be worth their weight in gold when some great opportunity comes up | Don't forget the care and feeding of your network: Reciprocate!
2. Start growing your LinkedIn network | Populate it with employees of companies that interest you, the ones on your Targeted Company List | Join LinkedIn Groups where your target company's employees are members | These tactics will put you in a position to reach out to them when there is a job posted at their company | YOU want to be the one referral out of 10 that gets that great job offer! | NOTE: 1 out of 10 is a fantastically better ratio than the 1 out of +/-250 that you will encounter with most other sources!
3. Expand your social media footprint | Twitter, Facebook, LinkedIn and others let people know about you and let you know the people who can smooth the way to your new job
I will add a 4th that isn't explicitly suggested by the data but which is the wave of the future I think:
4. Set up your own multipage website or blogsite with your entire personal brand profiled | Having a branded online footprint will become increasingly critical to landing the choice jobs of the future!
Good luck in landing your next great job!