With more than 70% of the U.S. labor force on the job market, it’s important for employers and recruiters to know exactly where to find the top talent. A recent Jobvite study looks into the new job marketplace and helps recruiters map out a plan to land the best candidates.
The job market is teeming with prospects. Jobvite’s study found that 71% of the American workforce is on the market; this includes both the employed and unemployed who are actively seeking new work, and those passive seekers who are employed but are open to a new job. Digging deeper, the study found that 51% of employed workers are either actively seeking or are open to new jobs. The most active demographics in their job searches are the 18-29 and 40-54 age groups, which each make up 30% of the job market.
Looking into employee turnover, Jobvite found that about 33% of workers change jobs at least every 5 years, while 18% change every 6 to 10 years. The remainder, about 47%, plan to stay at their current jobs for more than 10 years.
Social Job Seekers
Jobvite’s study found that the best source for recruiters to find talent is probably the most old-fashioned: referrals. Broken down further, the top recruiting sources for finding good candidates are:
>>Referrals (64% say they provide high-quality recruits)
>>Social networks (59%)
>>Corporate career sites (59%)
Jobvite discovered similar findings on the other side of the job-seeking spectrum:
>>40% of workers found their “favorite or best” job through a personal connection
>>21% found it through a social network
>>20% found it through an online job board
With social media and mobile increasingly important, Jobvite also found that they’re vital for effective recruiting. The study found that there are about twice as many women “social job seekers” (those who turn to social media to find, vet and contact potential hirers) than men. According to the study, “social job seekers are younger, wealthier, more highly educated and more likely to be employed full-time”:
>>30% of social job seekers earn over $100k per year
>>25% are of the 30-39 age group
>>21% are 4-year college grads.
–More info: www.docstoc.com