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.
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1. 2019 IMPACT OF SOCIAL HIRING ON TALENT ACQUISITION STRATEGY IN ©2019. TopCHRO. All Rights Reserved. R E P O R T
2. CONTENTS BENEFITS OF SOCIAL HIRING RECOMMENDATIONS CONCLUSION EXECUTIVE SUMMARY METHODOLOGY KEY FINDINGS SOCIAL HIRING CHALLENGES 03 05 12 19 21 22 04
3. 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. 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. EXECUTIVE SUMMARY ©2019. TopCHRO. All Rights Reserved. YOU CAN’T TEACH EMPLOYEES TO SMILE. THEY HAVE TO SMILE BEFORE YOU HIRE THEM. ” ” 03
4. 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. METHODOLOGY 04 Experience level more than 4 years ©2019. TopCHRO. All Rights Reserved.
5. KEY FINDINGS ©2019. TopCHRO. All Rights Reserved.
6. KEY FINDINGS Social hiring is a must for 66.09% of the respondents and is well-integrated in the systems: 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. Importance of Social Hiring 06 5.14% 28.77% 54.45% 11.64% Very Important Moderately Important Most Important Not so Important CURRENT USE OF SOCIAL HIRING ©2019. TopCHRO. All Rights Reserved.
7. PREFERRED APPLICATION METHODS FOR EMPLOYERS By asking them to fill social media forms By redirec ng to the company’s career site By asking candidates to message on social media By asking them to upload resume directly through social media By asking candidates to mail their resume 0 12.3% 10 20 30 40 50 60 70 80 90 100 39.4% 53.9% 52.6% 25.5% Big Companies Are Making Bigger Investments in Social Hiring: 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. 07 KEY FINDINGS ©2019. TopCHRO. All Rights Reserved.
8. Industries That Are Using Social Hiring Most: 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. 08 KEY FINDINGS Human Resources Healthcare Sales/ Marke ng IT/ Telecom Business/ Consul ng Educa on Retail/ CPG Manufacture/ Construc on/ Automobile Banking/ Finance Others 0 20 40 60 80 100 100.00% 100.00% 100.00% 97.40% 96.15% 92.86% 90.24% 90.00% 88.89% 90.00% ©2019. TopCHRO. All Rights Reserved.
9. 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: Instagram Whatsapp Myspace 17.75% 4.78% 3.07% LinkedIn Facebook Twi er 51.54% 21.16% 94.88% 09 KEY FINDINGS Social media: 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. POPULAR SOCIAL HIRING MECHANISMS ©2019. TopCHRO. All Rights Reserved.
10. No 43.80% Yes 56.30% 10 KEY FINDINGS Employers Perspec ve: Should ATS be integrated with social pla orms? Employers Perspec ve: Are Chatbots Beneficial? No 29.11% Yes 69.86% 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. USE OF TECHNOLOGY FOR SOCIAL HIRING ©2019. TopCHRO. All Rights Reserved.
11. SOCIAL HIRING BEST PRACTICES Send direct messages to poten al candidates 64.73% Ask for referrals 60.62% Include Chat bots on the website’s career sec on 16.10% Create a job pos ng on the company’s page 65.41% Ask internal employees to share jobs in their profiles 51.37% Post jobs for specific roles in relevant group 76.71% 11 KEY FINDINGS 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. ©2019. TopCHRO. All Rights Reserved.
12. SOCIAL HIRING STRATEGY The preferred choice for employer branding: 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. 12 1-50 50-500 500-2000 2000+ Least Important 0 20 40 60 80 100 6.85% 9.41% 15.38% 4.94% 1-50 50-500 500-2000 2000+ Somewhat Important 0 20 40 60 80 100 1-50 50-500 500-2000 2000+ Not Important 0 20 40 60 80 100 1-50 50-500 500-2000 2000+ Most Important 0 20 40 60 80 100 32.88% 32.94% 34.62% 28.40% 2.74% 2.35% 0.00% 1.23% 57.53% 54.12% 50.00% 65.43% PERCEIVED IMPORTANCE OF SOCIAL HIRING FOR EMPLOYER BRANDING Social Hiring Strategy: ©2019. TopCHRO. All Rights Reserved.
13. 13 SOCIAL HIRING STRATEGY Leveraging social media pla orms for referrals and iden fying passive candidates Leveraging social media pla orms for adver sing job openings Leveraging social media pla orms for recrui ng candidates Leveraging social media pla orms for communica ng company culture 46.13% 66.77% 30.32% 47.42% 0 20 40 60 80 100 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. POPULAR USES OF SOCIAL HIRING ©2019. TopCHRO. All Rights Reserved.
14. Budget a Constraint: 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. 14 25.16% 27.10% 23.87% 18.06% 5.81% SOCIAL HIRING STRATEGY EMPLOYERS PERSPECTIVE: DO YOU HAVE A BUDGET FOR SOCIAL HIRING? Yes, but not much. Yes, we have a sufficient budget. No, we don’t have a budget but definitely need one. We may have a budget by the next quarter. No, we don’t need a budget. ©2019. TopCHRO. All Rights Reserved.
15. 15 SOCIAL HIRING BUDGET ALLOCATION SOCIAL HIRING STRATEGY 1-50 50-500 500-2000 2000+ Yes, but not much 0 20 40 60 80 100 21.92% 29.07% 26.92% 20.99% 1-50 50-500 500-2000 2000+ Yes, we have a sufficient budget 0 20 40 80 100 60 17.81% 18.60% 34.62% 38.27% 1-50 50-500 500-2000 2000+ No, we don’t have a budget but definitely need one. 0 20 40 60 80 100 26.03% 12.35% 22.09% 13.46% 1-50 50-500 500-2000 2000+ No, we don’t need a budget. 0 20 40 60 80 100 27.40% 21.15% 20.99% 26.74% 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. ©2019. TopCHRO. All Rights Reserved.
16. 16 SOCIAL HIRING STRATEGY PERCEIVED EFFECTIVENESS OF HIRING MEDIUMS Social Hiring Has Heavily Impacted Other Hiring Methods: 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. 0 10 20 30 40 50 60 70 80 90 100 Least Effec ve Somewhat Effec ve Most Effec ve Cold Calling 41.32% 37.15% 21.53% Least Effec ve Somewhat Effec ve Most Effec ve Company website’s career sec on 16.55% 50.00% 33.45% Least Effec ve Somewhat Effec ve Most Effec ve Job Portals (Monster, Indeed etc.) 10.18% 44.91% 46.67% Least Effec ve Somewhat Effec ve Most Effec ve Outsourcing to a recruitment agency 23.08% 51.05% 25.52% Least Effec ve Somewhat Effec ve Most Effec ve Social Media (LinkedIn, Facebook etc.) 4.50% 42.21% 52.94% ©2019. TopCHRO. All Rights Reserved.
17. SOCIAL HIRING CHALLENGES ©2019. TopCHRO. All Rights Reserved.
18. SOCIAL HIRING CHALLENGES 18 Social hiring budget is an impediment and 52.26 % of respondents feel that cost is not a limi ng factor. 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. 1-50 50-500 500-2000 2000+ No, our system doesn’t have the feature 0 20 40 60 80 100 1-50 50-500 500-2000 2000+ We don’t use ATS 0 20 40 60 80 100 1-50 50-500 500-2000 2000+ Yes, but we add them manually 0 20 40 60 80 100 1-50 50-500 500-2000 2000+ Yes, it makes the work a lot easier 0 20 40 60 80 100 13.70% 22.09% 26.92% 23.46% 35.62% 27.91% 17.31% 7.41% 15.07% 19.77% 19.23% 24.69% 35.62% 30.23% 36.54% 44.44% Employers Perspec ve: Is integra ng ATS to social hiring medium easy and effec ve? ©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 Building employee brand awareness Employee referrals Employee engagement Reduced cost to hire 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. 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. 20 ©2019. TopCHRO. All Rights Reserved.
21. RECOMMENDATIONS 21 Chatbots bring Engagement: 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. ATS: Respondents find linking ATS with social pla orms effec ve but cumbersome since it is to be done manually. 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. Social media: 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. Forms: 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. 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. ©2019. TopCHRO. All Rights Reserved.
22. 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! CONCLUSION 22 ©2019. TopCHRO. All Rights Reserved.
23. 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 TM ABOUT TopCHRO © 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.