Online job boards and third-party search firms may be losing
out to social media when companies search for new employees,
based on June 2010 research.
Nearly three-quarters of companies surveyed were using social
networks for recruiting, and 58.1 percent said they had successfully
hired a candidate found through a social network.
LinkedIn was the top social network used for hiring, by nearly
80 percent of companies recruiting through social media. It also
provided the most success, with about 90 percent of companies
that had hired through a social network reporting they found the
candidate on LinkedIn. While Facebook and Twitter were used for
recruiting by about 55 percent and 45 percent of companies,
respectively, they led to far fewer hires: 27.5 percent for Facebook
and 14.2 percent for Twitter.
Success in this area is leading almost half of employers to
increase recruiting program spending on social media. At the
same time, more than a third of companies were lowering spending
on job boards and search firms.
March 2010 data from online job board Monster.com painted a
somewhat different picture: 42 percent of companies surveyed
said social networks were useful for recruiting college students,
while 82 percent said large, all-purpose online job boards, such as
Monster.com, were useful.