What is the cost of a bad hire? We all know that hiring the wrong employees can cost organizations a huge amount of money, but this infographic presents some startling figures. When it comes down to it, getting the right fit the first time probably matters a little more than you thought it did. Recruiters, your job is just that much more important.
This infographic by Resoomay, a software service that allows recruitment agencies and employers to screen and interview candidates using video interviews, explores the (rather astronomical) cost of making a bad hire.
Related: How Employers Use Social Media to Screen Applicants (Infographic).
When you finish your college education and try to land your first real job, you may run into a number of positions that, despite being entry level, simply require too much experience to get your foot in the door. This obstacle is becoming more common, due partly to the overall workforce being deluged with experienced candidates and partly due to employers having unrealistic expectations for lower-level jobs. Instead of just throwing your hands up at the whole process, there are a few things you can do to make employers consider you even with little to no experience.
The reality of experience
Look on almost any job posting, and you’ll see some kind of experience requirement, which is usually several years or more. It’s unrealistic for employers to expect recent college graduates to have this kind of work experience, and most employers recognize this despite still putting the requirement on the posting. The reality is that many employers will fully consider a candidate who only has schooling, and will often translate years of education into years of experience. If you feel the job requires your exact skill set, as long as the position doesn’t require something like ten years of experience, feel free to apply. Just be ready to address your lack of experience in the interview.
See also: How To Best Prepare for Your Job Interview
How can you gain experience?
There are a number of ways you can gain the experience you will need to land a job. First, consider volunteer work, which not only provides work experience but will look attractive on a resume. Also, consider an internship in your field. It may not pay very much, or at all, but it is a great way to get a little experience to flesh out your resume. Websites designed to help graduates and students find volunteer and internship opportunities are becoming popular: try Monster’s internship site to find opportunities near you.
Related: How To Find Graduate Internships on LinkedIn
Education, education, education
If you can’t get a job right out of school, your best bet may be to go back and further your education. Entry level positions are generally targeted towards people without advanced degrees, so if you go back and get a master’s degree, it may let you skip those types of positions and begin interviewing for professional and managerial positions where the employer will be less likely to look down on your lack of experience since you have an advanced degree to show for your efforts. The recent explosion of online learning can even help you earn an online master degree while working a basic job or interning. Online degrees, especially the advanced degrees, are a great way to get the most out of your education while not having to put your life on hold.
As you make your way out into the professional world, there’s no reason to let a lack of experience hold you back from landing the job of your dreams. Even if companies are asking for experience that you may not think you have, they may be more than willing to consider your schooling as experience if you can nail the interview. Even if you can’t seem to get your foot in the door, with a little extra effort and a little extra schooling you’ll be able to blow away hiring managers in no time.
Related: 7 Reasons Employers Will Hire You
Jesse Langley lives near Chicago. He divides his time among work, writing and family life. He writes on behalf of of online master degree
sites and has a keen interest in blogging and social media.
Image credit sskennel
I believe we've all heard about BeKnown by now. It's a Facebook application, which allows users to connect with their Facebook friends in a professional way. The functionalities are very similar to Linkedin but the interface is much more similar to Facebook, combining aspects from both networks.
The app is powered by Monster.com, one of the largest employment websites in the world. They advert BeKnown as a network that provides users with more convenience, control and connections. It all makes sense, at least in theory.
Increasing your network
Once you install BeKnown one of the first things it asks you to do is to invite your Facebook friends to join your network. I started BeKnown with zero connections. One day after it launched I received two invites from Facebook friends. A couple of days passed and my network did not increase, which made me realise I had to start inviting people. After one day, only one person accepted my invite to join BeKnown. Which makes me wonder, how much potential does this network within a network concept will work?
Comparing with LinkedIn, which currently has more than 150 million users and a good number of monthly visitors, Facebook is still the winner with more than 800 million and very high usage. So it might be that Facebook has more potential? Not sure, since the audience is not exactly the same. Remember, we still believe Linkedin is the most important social network.
In a study from ROI Research), 59 per cent of respondents say LinkedIn is their most important account on social networks. This is a big gain from last year's survey when only 41 per cent said LinkedIn is their number one.
The fact that LinkedIn is the most important network to people is interesting as the average user only logs on 2.9 times per month. Compare this to Facebook where the average user logs in every day. Another interesting fact is that LinkedIn never actually call themselves a 'social network', they prefer the term 'professional network'.
We also learn from the study that respondents with 'active' LinkedIn accounts (i.e. not signed up and forgot about it completely), half of them visit the professional networking site once a week and a fifth log on daily. This is actually less than the figures from the height of the recession a year ago when two thirds visited the site at least weekly.
My 10 Reasons LinkedIn is the Winner
There are quite a few reasons LinkedIn has passed Facebook in this department:
1. LinkedIn likes to copy Facebook's successful features. You may have noticed the share button and even the like button. These are of course direct copycat tactics that have worked well. Back in the day you couldn't even upload your picture on LinkedIn but slowly and surely they have copied more and more from Facebook. Familiar features on one social networking platform will work on another.
2. Topical. Last year's IPO of LinkedIn has made it the flavor of the month. If you want press coverage (and scrutiny), an IPO is probably one of the best ways. Every man and his dog have now signed up after reading that LinkedIn adds 8 new members every second. Having said that, a film is not a bad way of getting PR either - Facebook only beat Orkut in Brazil after 'The Social Network' was released.
3. Personal branding. Performics's CEO Daina Middleton reckons: "Individuals have embraced social networking as a means to actively manage their personal viability in the global economy." LinkedIn is loved by Google and if you want to manage your search results, LinkedIn is your quickest and best bet.
4. The recession. Unemployment in many countries are at an all-time high and LinkedIn is one natural place for job seekers to network their way to the next opportunity. Perhaps more so natural than job boards which have historically been the place to go.
5. LinkedIn's hiring solutions are gaining momentum. After a big push last year, many large companies have signed up for premium recruiter accounts that allow them to contact any user of LinkedIn direct without being connected in any way. When people notice this, they realize how vital their own profile has become - and thus LinkedIn gains in importance overall.
6. Under the radar in your office. Think about it, most offices have a ban on Facebook, YouTube, Twitter and the such just to keep productivity levels up. Is there ever a ban on LinkedIn? Nopes. The big L is seen as a work-related tool and is therefore acceptable to have on your screen even when the big boss happens to look over.
7. Lack of competition. Who are the hot rivals of LinkedIn? Local players such as Xing, Viadeo and Baidu will takes years to reach the size and reach of LinkedIn. Facebook are possibly the only serious contender, if they were to aim for the professional market as well (which they don't at the moment).
8. LinkedIn is safer than Facebook. Again think about it, on LinkedIn there is really nothing to hide. You only get one tiny picture of yourself and a limited space to tell the world about your interests. Above all, there is no wall on your profile. This means nobody can tag you in drunken photos or write nasties on your wall. This could be part of the appeal of LinkedIn for anyone who is not Generation Y.
9. Word of mouth. Whilst social media is all about connecting online, we only tend to use sites that someone has recommended. Most people have by now heard success stories from friends finding a job or a new client through LinkedIn. Did you ever hear that about Facebook or Twitter? I rest my case.
10. It's real. Apart from a few dummy profiles set up by headhunters to find new vacancies, everyone on LinkedIn are themselves. We have our real names, our real pictures and we're listed under our real employer. The terms and conditions of LinkedIn state that you have to be truthful on your profile and you may only have one. Compare this to Twitter or MySpace where you're just as likely to be known as CyberKitten and sport a neon colored avatar as you would be using your own name and image.
Do you agree with these 10 reasons? Can you add the eleventh and twelfth reason behind LinkedIn's success? Please add your comment below!
And don't miss the 10 Best LinkedIn Headlines of Recruiters