CHICAGO--(BUSINESS WIRE)--Research from SilkRoad, a leading global provider of cloud-based talent management solutions, reveals that employee referrals generated the most hires overall. Available March 27, SilkRoad’s 2014 “Top Sources of Hire: The Definitive Report on the Most Effective Recruiting Sources” mined its vast employee recruiting database to reveal the most successful sources for generating candidate interviews and hires. While online sources, led by Indeed.com, provide increasingly high volumes of applications, employee referrals continue to result in the highest source of hire. Register for a live web presentation of the report findings, taking place March 27, 1PM CDT.
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“Too many organizations are casting a wide net, placing expensive job ads, and hoping they’ll attract the best talent,” said John Shackleton, President and Chief Executive Officer, SilkRoad. “With sound data, HR teams can focus their valuable recruitment resources toward the best sources of hire.”
Findings & Trends
- Internal sources deliver the most hires: Employee referrals continue to produce the most hires overall (59 percent), up from 58 percent in 2012.
- Internal and External sources evenly split (50-50) as sources of interviews: In 2013, External sources accounted for 50 percent of interviews, 6 percent less than in 2012.
- Online sources are crucial: Online sources (both internal and external) generated the highest number of applicant’s year over year, the source of 58% of all interviews. The top online sources are Indeed.com and company websites.
- Job site performance: Indeed.com (39 percent) was the top job board, producing 26 percent more applicants than the runner-up, CareerBuilder (13 percent), as well as 32 percent of hires (14 percent higher than the next two runners up combined).
The 2014 “Top Sources of Hire: The Definitive Report on the Most Effective Recruiting Sources” report findings are based on data within SilkRoad Life Suite’s OpenHire® applicant tracking system (ATS) and represents 1,140 companies. The participating companies ranged in size from as few as 100 employees to mid-market and large employers. For all of 2014, the data included almost 10 million applicants, over 150,000 interviews, and in excess of 150,000 hires. Examples of external sources include specific job search engines, branded and unspecified job boards, print advertising, TV/Radio advertising, job fairs, campus recruiting and agencies. Examples of internal sources include recruiter sourced (employer sourcing), company career sites (employer websites), employee referrals, current employees and inside hires.
SilkRoad® is a leading global provider of cloud-based, end-to-end talent management solutions that enable customers to find, attract, develop, and retain the best talent. The award-winning SilkRoad® Life Suite® includes Talent Acquisition, Talent Development, and HRMS solutions that are delivered through a Talent Portal to drive greater engagement, collaboration, and user adoption. The suite is easy to deploy, easy to use, and affordable for businesses of every size. Visit www.silkroad.com, follow them on Twitter @SilkRoadTweets or call 866-329-3363 (U.S. toll free) or +1-312-574-3700.