Good news folks. The State of Recruting survey by Talent Tech is proof corporate and economic growth is on its way this year. As the war of talent heats up, it will drive tough competition for the best candidates (so good news for them too).
Recruiters will have to be innovative in how they source the best candidates. And social recruiting is here to stay but traditional sources like job boards are still providing to be a great source for talent.
Human resources is under-resourced; recruiters are crunched for time; spending time wisely is key to finding top talent faster, smarter and faster.
Some of the highlights of this survey include:
- Most organizations are seeing signs of an economic recovery
- More than half of companies plan to grow its workforce
- Biggest challenges are to find good candidates and filling positions fast
- Average time to read a resume is 4.5 minutes
- It typically takes 45 days to fill a job vacancy
- Recruiters spend 3 hours per day sourcing candidates
- 17% of candidates come from job boards
- 16% come from employee referrals
- 14% of applicants derive from the corporate website
- 12.5% of candidates come via social networking sites
- Most recruiters use LinkedIn (40%), Facebook (30%) and Twitter (13%).