CareerXroads released its annual Source of Hire study yesterday. The 8th annual free study, subtitled “What Happened in 2008 and What It Means for 2009,” looks at how corporate staffing functions measure and report sources of hires for the openings they fill.
Highlights from the study include:
– Internal transfers and promotions were 38.8 percent of all the full-time positions a company fills. That’s up from 30 percent the year before.
– Referrals (employee, alumni, vendor, etc.) make up 27.3 percent of all external hires and is arguably the number one external source. Other sources include company career pages (20 percent) and job boards (12.3 percent).
– The most visible trend in 2008 is the pressure to reduce hires (and associated costs) attributed to third-party recruiters, newspapers and traditional job boards.
– In 2009, this year’s respondents are predicting another 15.7 percent drop in hires and not a single firm predicted they would hire more this year than last.
– Plans for 2009 from respondents include improving social networking connections; reducing agency, job board and print; and increasing referrals.
The full report can be downloaded at:
http://www.careerxroads.com/news/SourcesOfHire09.pdf
We’ll have more in an upcoming issue of CIR.
