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IMPACT OF SOCIAL HIRING ON TALENT ACQUISITION STRATEGY IN 2019 - Report

Modern HR managers are steadily indulging in social media recruiting to have an edge in a highly competitive job market. In this report- Social Hiring 2019, you will fathom the impact it is creating in the world of HR. You can also download from here: https://www.topchro.com/article/impact-of-social-hiring-on-talent-acquisition-strategy-in-2019

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IMPACT OF SOCIAL HIRING ON TALENT ACQUISITION STRATEGY IN 2019 - Report

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  1. R E P O R T IMPACT OF SOCIAL HIRING ON TALENT ACQUISITION STRATEGY IN 2019 ©2019. TopCHRO. All Rights Reserved.

  2. EXECUTIVE SUMMARY METHODOLOGY KEY FINDINGS SOCIAL HIRING CHALLENGES 03 04 05 CONTENTS 12 BENEFITS OF SOCIAL HIRING RECOMMENDATIONS CONCLUSION 19 21 22

  3. EXECUTIVE SUMMARY ” In the last few years, social media has emerged as the new town center of the online world where people visit, interact and engage, o?en. With more and more tech- savvy millennials and Gen-Z employees joining the workforce, social hiring has flourished as the most prominent, probably the only, preferred employment pla?orm. TopCHRO?? conducted a survey to know the extent, impact and modes of this pla?orm. YOU CAN’T TEACH EMPLOYEES TO SMILE. THEY HAVE TO SMILE BEFORE YOU HIRE THEM. ” The survey was designed to get maximum diverse views and was floated across a range of industries and regions. Its interpreta?on in this report is limited to prominent observa?ons and major devia?ons. The results have been approximated and should not be taken as exact numbers. To get the exact picture, numbers and understanding of the method, a detailed and broad study is advised. 03 ©2019. TopCHRO. All Rights Reserved.

  4. METHODOLOGY The Social Hiring Survey Report 2019 has been compiled on the basis of feedbacks collected from 3128 HR professionals. These professionals represent various na?onali?es, industries, demography, organiza?on sizes and come from mid-level to senior HR roles in their respec?ve organiza?ons. The respondents were given a primary survey ques?onnaire to fill and their responses were strictly kept individual to avoid any kind of bias or influence. Sample size and structure of the survey was restricted keeping in view the ?me availability and diverse responses were collected to understand varied perspec?ves. Respondents from the US, Africa, EMEA and APAC regions par?cipated in the survey. The authen?city and validity of samples and their responses were pre-confirmed in separate communica?on with their respec?ve organiza?ons. All par?cipants were above 18 years of age as on June 2019. Experience level more than 4 years 04 ©2019. TopCHRO. All Rights Reserved.

  5. KEY FINDINGS ©2019. TopCHRO. All Rights Reserved.

  6. KEY FINDINGS CURRENT USE OF SOCIAL HIRING Importance of Social Hiring 5.14% Not so Important Social hiring is a must for 66.09% of the respondents and is well-integrated in the systems: 11.64% Most Important Use and effec?veness of social hiring are indisputable. 11.64% of the organiza?ons say social hiring is most important for them and 54.45% say social hiring is very important for them. Though most organiza?ons use social hiring, there is a striking ambiguity in its use and different organiza?ons are using it differently and for different purposes. 54.45% Very Important 28.77% Moderately Important 06 ©2019. TopCHRO. All Rights Reserved.

  7. KEY FINDINGS PREFERRED APPLICATION METHODS FOR EMPLOYERS By asking them to fill social media forms 12.3% Big Companies Are Making Bigger Investments in Social Hiring: By asking them to upload resume directly through 39.4% A notable shi? is building in large organiza?ons. Only 53.9% of organiza?ons are now redirec?ng applicants to their career site. 12.3% have adopted social media forms. They are now turning to social hiring for a?rac?ng talent and popularizing their company culture. The bigger chunk of small and mid-size organiza?ons pie is invested in recruitment. Small and mid-level organiza?ons need to explore more poten?al uses of social hiring like branding and job adver?sing. social media By redirec?ng to the company’s career site 53.9% By asking candidates to mail their resume 52.6% By asking candidates to message on social media 25.5% 0 10 20 30 40 50 60 70 80 90 100 07 ©2019. TopCHRO. All Rights Reserved.

  8. KEY FINDINGS Industries That Are Using Social Hiring Most: Human Resources Healthcare Sales/ Marke?ng IT/ Telecom Business/ Consul?ng 100.00% 100.00% 100.00% About all respondents from different industries rated social hiring from being important to most important. 100% respondents from Human Resources, Healthcare and, Sales and Marke?ng sectors said they are using social hiring for talent acquisi?on. It is also being used extensively by IT/Telecom, Educa?on, CPG, Automobile/ construc?on, Banking/Finance and Consul?ng industries. Its poten?al in other industries needs to be explored. 97.40% 96.15% 92.86% 90.24% Educa?on Retail/ CPG Manufacture/ Construc?on/ Automobile 90.00% Banking/ Finance 90.00% Others 88.89% 0 20 40 60 80 100 08 ©2019. TopCHRO. All Rights Reserved.

  9. KEY FINDINGS POPULAR SOCIAL HIRING MECHANISMS Though many hiring mechanisms are available, not all of them are uniformly used. While social media and group pos?ngs are widely used, others not so much despite their ease and efficiency. Popular Social Hiring Pla?orms Used: Social media: Instagram LinkedIn 94.88% 17.75% Facebook helps in targe?ng demography, interest and, skills and, LinkedIn validates the candidate’s experience and skills. Twi?er is being used to target candidates based on their interest. 94.88% of respondents are using LinkedIn which makes it the most popular hiring pla?orm. Facebook Whatsapp 51.54% 4.78% Twi?er 21.16% Myspace 3.07% 09 ©2019. TopCHRO. All Rights Reserved.

  10. KEY FINDINGS USE OF TECHNOLOGY FOR SOCIAL HIRING Employers Perspec?ve: Should ATS be integrated with social pla?orms? Employers Perspec?ve: Are Chatbots Beneficial? No 29.11% No 43.80% Yes 69.86% Yes 56.30% Chatbots: 69.86% of respondents find chatbots useful. Only 16.10% of organiza?ons have included chatbots in their website’s career sec?on. But the ones that have used chatbots have found them effec?ve. ATS: 56.30% of respondents say ATS should be integrated with social pla?orms for effec?ve social hiring. Respondents find linking ATS with social pla?orms effec?ve yet cumbersome since it is to be done manually. 10 ©2019. TopCHRO. All Rights Reserved.

  11. KEY FINDINGS SOCIAL HIRING BEST PRACTICES 65.41% 51.37% 60.62% 16.10% 64.73% 76.71% Send direct messages to poten?al candidates Post jobs for specific roles in relevant group Create a job pos?ng on the company’s page Ask internal employees to share jobs in their profiles Include Chat bots on the website’s career sec?on Ask for referrals The popularity of groups is rising. 76.71% of employers post jobs in relevant groups while 65.41% of post jobs on their career page. Organiza?ons that have used forms have found them to be effec?ve. Budget limita?on is restric?ng organiza?ons from using social forms in their post and applica?ons. 11 ©2019. TopCHRO. All Rights Reserved.

  12. SOCIAL HIRING STRATEGY PERCEIVED IMPORTANCE OF SOCIAL HIRING FOR EMPLOYER BRANDING 1-50 50-500 500-2000 2000+ 1-50 50-500 500-2000 2000+ 100 100 80 80 60 60 Social Hiring Strategy: 32.94% 34.62% 28.40% 32.88% 40 40 The preferred choice for employer branding: 15.38% 9.41% 20 20 6.85% 4.94% 0 0 Least Important Somewhat Important Social hiring has emerged as a one-stop bouquet for variety of uses. But, most of these uses are in their nascent stages and need to be explored further. 100% of respondents with 500-2000 employee base prefer social hiring for branding. 1-50 50-500 500-2000 2000+ 1-50 50-500 500-2000 2000+ 100 100 80 80 65.43% 57.53% 54.12% 50.00% 60 60 2.74% 2.35% 0.00% 1.23% 40 40 20 20 0 0 Not Important Most Important 12 ©2019. TopCHRO. All Rights Reserved.

  13. SOCIAL HIRING STRATEGY POPULAR USES OF SOCIAL HIRING Leveraging social media pla?orms for adver?sing job openings 46.13% 66.77% of respondents are using social media pla?orm for recrui?ng candidates. Recruiters are also using social hiring for loca?ng passive candidates. Social media has emerged as an excellent tool for seeing the person as a whole and making a be?er judgment. Leveraging social media pla?orms for recrui?ng candidates 66.77% Leveraging social media pla?orms for communica?ng company culture 30.32% Leveraging social media pla?orms for referrals and iden?fying passive candidates 47.42% 0 20 40 60 100 80 13 ©2019. TopCHRO. All Rights Reserved.

  14. SOCIAL HIRING STRATEGY EMPLOYERS PERSPECTIVE: DO YOU HAVE A BUDGET FOR SOCIAL HIRING? 5.81% 18.06% Budget a Constraint: 25.16% Organiza?ons are exer?ng themselves for social hiring budget. Even the ones that have not demarcated any budget for social hiring priori?ze it for finding passive candidates and for employer branding. New and mid-level organiza?ons that have lately taken it up seem to be struggling to meet budget demands and only 23.87% of organiza?ons feel that social hiring cost is a concern. These organiza?ons have limited their budget to target poten?al candidate and to reduce hiring cost. 23.87% 27.10% Yes, but not much. Yes, we have a sufficient budget. We may have a budget by the next quarter. No, we don’t have a budget but definitely need one. No, we don’t need a budget. 14 ©2019. TopCHRO. All Rights Reserved.

  15. SOCIAL HIRING STRATEGY SOCIAL HIRING BUDGET ALLOCATION 1-50 50-500 500-2000 2000+ 1-50 50-500 500-2000 2000+ 100 100 80 80 60 60 34.62% 38.27% 29.07% 18.60% 40 40 26.92% 21.92% 17.81% 20.99% 20 20 Though organiza?ons concur social hiring is a cost-effec?ve op?on for hiring and brand building, they are yet to calibrate a suitable budget for it. 26.03% of respondents from small organiza?ons said that they don’t have a budget for social hiring but they need one. Convincing the board would be another challenge that HR professionals have to take. A cost- benefit model could help. 0 0 Yes, but not much Yes, we have a sufficient budget 1-50 50-500 500-2000 2000+ 1-50 50-500 500-2000 2000+ 100 100 80 80 60 60 40 40 27.40% 26.03% 26.74% 22.09% 21.15% 20.99% 13.46% 20 20 12.35% 0 0 No, we don’t have a budget but definitely need one. No, we don’t need a budget. 15 ©2019. TopCHRO. All Rights Reserved.

  16. SOCIAL HIRING STRATEGY PERCEIVED EFFECTIVENESS OF HIRING MEDIUMS Somewhat Effec?ve Somewhat Effec?ve 51.05% Somewhat Effec?ve Somewhat Effec?ve Somewhat Effec?ve Least Effec?ve Least Effec?ve Least Effec?ve Least Effec?ve Least Effec?ve Most Effec?ve Most Effec?ve Most Effec?ve Most Effec?ve Most Effec?ve Social Hiring Has Heavily Impacted Other Hiring Methods: 100 50.00% 90 41.32% 42.21% 44.91% 80 37.15% 52.94% Fewer organiza?ons are relying on their career pages and job portals. Five mediums came out as the most preferred methods of social hiring. 52.94% of respondents find social media most effec?ve for hiring. Conven?onally the most preferred medium of hiring, cold calling has declined in popularity and only 22% find it effec?ve. 70 23.08% 46.67% 16.55% 60 33.45% 10.18% 50 4.50% 25.52% 21.53% 40 30 20 10 0 Outsourcing to a recruitment agency Social Media (LinkedIn, Facebook etc.) Job Portals (Monster, Indeed etc.) Company website’s career sec?on Cold Calling 16 ©2019. TopCHRO. All Rights Reserved.

  17. SOCIAL HIRING CHALLENGES ©2019. TopCHRO. All Rights Reserved.

  18. SOCIAL HIRING CHALLENGES Employers Perspec?ve: Is integra?ng ATS to social hiring medium easy and effec?ve? 1-50 50-500 500-2000 2000+ 1-50 50-500 500-2000 2000+ 100 100 Social hiring budget is an impediment and 52.26 % of respondents feel that cost is not a limi?ng factor. 80 80 35.62% 27.91% 17.31% 7.41% 13.70% 22.09% 26.92% 23.46% 60 60 40 40 Inadequate informa?on from candidates and sor?ng applica?ons/ iden?fying quality candidates came out as the two most challenging aspects of social hiring. Respondents found linking social hiring with their ATS difficult. LinkedIn stood out as the easiest ATS integra?on process. While others including Facebook and Twi?er were rated difficult. However, given the effec?veness of linking social pla?orms with ATS, it is recommended that organiza?ons move ahead with it or find alterna?ve solu?ons to ease linking issues. 20 20 0 0 No, our system doesn’t have the feature We don’t use ATS 1-50 50-500 500-2000 2000+ 1-50 50-500 500-2000 2000+ 100 100 15.07% 19.77% 19.23% 24.69% 35.62% 30.23% 36.54% 44.44% 80 80 60 60 40 40 20 20 0 0 Yes, but we add them manually Yes, it makes the work a lot easier 18 ©2019. TopCHRO. All Rights Reserved.

  19. BENEFITS OF SOCIAL HIRING ©2019. TopCHRO. All Rights Reserved.

  20. BENEFITS OF SOCIAL HIRING THE SURVEY BROUGHT FORTH 6 MAJOR BENEFITS OF SOCIAL HIRING Increased job visibility Improved hire quality Employee referrals Employee engagement Reduced cost to hire Building employee brand awareness A whopping 78% of employers find candidates this way. Employees can share links to jobs and can encourage their friends and peers to apply for them. Only 13% of employees are engaged in their workplaces. Defining a social media policy and nomina?ng employee champions can boost employee engagement upto 58%. Pos?ng jobs on social pla?orms costs much less than pos?ng on tradi?onal job pla?orms. With more tech- savvy millennials and Gen-Z in the recruitment pipeline, broadcas?ng jobs on social media gets maximum a?en?on. This also improves the chances of finding be?er quality talent. 59% of respondents say that social hiring gives be?er quality hires. Social hiring is linked to strengthening brand trust. 20 ©2019. TopCHRO. All Rights Reserved.

  21. RECOMMENDATIONS Facebook helps in targe?ng demography, interest and, skills and, LinkedIn validates the candidate’s experience and skills. Twi?er is being used to target candidates based on their interest. Social media: Mails and career page: 54.11% of organiza?ons ask candidates to mail their CVs and 53.08% of respondents direct candidates to their career pages. Respondents find linking ATS with social pla?orms effec?ve but cumbersome since it is to be done manually. ATS: 17.81% of organiza?ons that are using chatbots on the career page of their websites have found them effec?ve. Respondents have said that chatbots are encouraging engagement among applicants. Closed-ended chat op?ons ease the applica?on process. However, its applica?on will depend on coopera?on between the HR and the tech team. Support from stakeholders will be required. Integra?on of chatbots however, seems inevitable considering the popularity of AI, Machine Learning and NLP. The integra?on needs to be pondered upon. Chatbots bring Engagement: Organiza?ons that have used social forms found them easy and effec?ve. But only a small percentage of 13.02% of organiza?ons, notably big organiza?ons, are using them. Given the ease and effec?veness of social forms, these can be be?er used. Forms: Group pos?ngs: 76.71% of respondents rated pos?ng jobs for specific roles in the relevant group as the most important social hiring prac?ce. 21 ©2019. TopCHRO. All Rights Reserved.

  22. CONCLUSION The TopCHRO?? survey Social Hiring 2019 establishes social hiring as a prominent and popular hiring and brand building mechanism. It has replaced, if not completely wiped out, tradi?onal hiring, brand building and employee engagement methods and its benefits are uncontestable. Recent demands of disrup?ve workforces and diversity challenge the HR managers to up their recruitment and employee engagement game. The current and upcoming tech-savvy millennial and Gen-Z workforce is more or less oblivious to the tradi?onal hiring mechanisms. They cannot be used anymore either to a?ract or to retain talent. Applicant preferences reinforce the use of social hiring. With social hiring, both reach and impact can be exponen?al. Its applicability is enormous and it seems we haven’t explored the complete possibili?es in social hiring and have restricted ourselves to few tried and tested uses. To get maximum advantage, organiza?ons must build and apply strategies that align social hiring with their goals. It is recommended that the organiza?ons use social hiring for iden?fying the desired candidate, employer branding and talent acquisi?on if they are medium or small in size and, for brand building too if they are big. Integra?ng interfaces like chatbots, ATS and forms are likely to increase the effec?veness of the social hiring process. Bigger organiza?ons are inves?ng more on social hiring while medium and smaller organiza?ons are trying to invest more in it. Its prevalence and preference indicate that social hiring will con?nue to be a preferred or probably the only hiring and engagement source for a long ?me to come. Deligh?ully so. Our sincere thanks to all respondents who took out their valuable ?me and made efforts to respond to this survey. If you have an opinion or a sugges?on for us, please feel free to respond to us. We greatly appreciate your interest in the TopCHRO?? ini?a?ve. Thank you! 22 ©2019. TopCHRO. All Rights Reserved.

  23. ABOUT TopCHRO TM TopCHRO?? is commi?ed to the growth and development of HR and Talent Management profession and leadership. Periodically, it iden?fies the world’s 100 best-performing CHROs and senior HR professionals, and shares lessons from their success and vivid experiences, which have impacted and influenced business and the profession of HR in significant ways. TopCHRO?? aims to be a comprehensive, one-stop resource for the global HR community on new trends, perspec?ves, discussions, developments, research and emerging best prac?ces in human resource and talent management. To contribute to the knowledge base please feel free to write to us at support@topchro.com © 2019. TopCHRO. All Rights Reserved. This report is a property of TopCHRO.com. The insights or the informa?on cited in the report should be used for informa?on purpose only. Facts and figures presented in this report are based on the primary research conducted by TopCHRO & are subject to change, based on the dynamics of data at any ?me without any prior no?fica?on. Certain statements made in the report are based on the primary insights derived from the survey responses conducted by TopCHRO. These carry risks and uncertain?es and may differ from actual events. TopCHRO™ does not guarantee applica?on or validity of informa?on and insights in this report and will not be responsible for any loss that may arise from use of the informa?on or insight cited in the report. Readers are advised to use their own judgment while making related decisions.

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