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Best Source for Hiring?

Posted 2/8/2017

Some interesting stats on sources of hire. The original report came from the HR services group SilkRoad with comments from HR guru Tim Sackett. It’s US data but I suspect the insights will be similar for Australia.

The answer - Employee Referrals! But the most efficient source? External Recruiter.

I know that the power of employee referrals won't be news for most Talent Acquisition Managers. But what is interesting is comparing effectiveness by source. The SilkRoad report looks at the proportion or interviews versus the proportion of hires.

 

 

Here is a snapshot of Tim Sackett's analysis.

"1. Organizations are wasting more time on Indeed than any other place. 2nd place of a waste of time is LinkedIn. What? If the vast majority of your interviews are coming from Indeed, but a much smaller percentage of your hires are coming from Indeed, you have a misallocation of resources. LinkedIn has the same thing happening but from a much smaller overall number.

2. CareerBuilder is exponentially a better overall value than LinkedIn, but when I ask most companies to give me their #1 spend LinkedIn is almost always their largest single purchase when it comes to the source of hire, even though it’s #7 overall."

I'd also point out that the source which delivers the highest conversion of hires from interviews, just happens to be External Recruiter Sourced.

For more information about Tim Sackett and his article

http://timsackett.com/2017/05/26/the-top-7-sources-of-hire-for-2017/