CareerXroads conducts an annual study on methods company use for sourcing candidates. It’s an interesting read and I’ve highlighted, and commented on, a couple of important findings below.
––Personal referrals from employees, vendors, alumni, customers, and friends is the #1 external sourcing strategy, with employee referrals constituting between 80–90% of overall referrals. The study says that one out of every three referrals turns into a hire.
That statistic confirms the validity of the power of networking. Talking to people who work in companies that are interesting to you, can lead to opportunities you would not otherwise be privy.
––Retention strategies are leading many competitive companies to promote from within, with the goal of filling 40–50% of their openings internally.
Even if you are the greatest, most hard–working, and contributing employee, if the higher ups don’t know about you it really doesn’t matter. A strong, visible brand can help you stay on the radar screen of people who need to know about you.