Employee referrals is still a dominant source of new hires: 25% of new hires results from these referrals. One out of 10 referred candidates gets hired
The really interesting new finding is that the lion’s share of jobs is now filled by internal employees! Fully 42% of jobs are filled this way. You can understand the hiring authority’s thought process. Employees with a good track record within the company are better bets, they reason. They require less time to acclimate to the culture and to get up to speed with how things are done in the company. Simply put, they are lower risk.
How job seekers should adjust their strategies? I suggest that job seekers run, not walk, to implement the following 3-point action plan:
1. Start exploring internal opportunities | This means thinking about possible career paths within your current company that will get you where you want to go, even if it might require an interim step | Talk with HR and create a career development plan with them | Network across departments, divisions, and functions to make your next move | These contacts may be worth their weight in gold when some great opportunity comes up | Don’t forget the care and feeding of your network: Reciprocate!
2. Start growing your LinkedIn network | Populate it with employees of companies that interest you, the ones on your Targeted Company List | Join LinkedIn Groups where your target company’s employees are members | These tactics will put you in a position to reach out to them when there is a job posted at their company | YOU want to be the one referral out of 10 that gets that great job offer! | NOTE: 1 out of 10 is a fantastically better ratio than the 1 out of +/-250 that you will encounter with most other sources!
3. Expand your social media footprint | Twitter, Facebook, LinkedIn and others let people know about you and let you know the people who can smooth the way to your new job.
Chosen excerpts by Job Market Monitor. Read the whole story at