Do you know where your firm is sourcing candidates from?
Quality job seekers are the lifeblood of your recruiting company. Without the “ammunition” of candidates to be placed, your firm is, well, left shooting blanks. More and more, the source of these job seekers are being disrupted by technology, though it seems it’s hard to nail down specifically how this disruption is taking place.
For example, a recent article on job boards posted on ere.net took the stance that these traditional sources were not very relevant anymore, and cites data pointing to “internal movement, referrals, social recruiting,” and more that are taking the wind out of the sails of wide-net casting job boards. But you only need scroll down to the first comment to find disagreement, and there are plenty arguing that job boards are now more relevant than ever.
Let Your Own Data Show You the Way
Yes, it’s good to keep abreast of the latest and greatest news stories and opinions in the recruiting industry, but don’t let too much noise clutter up your day to day. It’s usually best to keep one foot firmly planted in the here and now, by looking at your data and seeing where your candidates are really coming from. Trends in your own data can often be more telling than what you read on your morning blog rounds.
Take this Candidate Source report, for example:
This is a snapshot of a year’s worth of data showing you how your candidate sources have trended over time. The most obvious change here is the growth of the top blue line, which in this example is Indeed. From August 2012 to today, this source has grown by nearly 75%.
Meanwhile, other sources have dropped off, significantly:
A referral source has fallen entirely off the chart.
Of course, you may be aware of the changes in these two sources from anecdotal evidence or conversations with your employees, but it might get more difficult when trying to trend a dozen, two dozen sources of candidates.
This is where an analytics solution such as InsightSquared can be essential to understanding your data. With an automated way to track candidate sources, you can look back on your history to not only see the changing trends, but track back and figure out why you saw more or less candidates from each source. Did you upgrade your Indeed package? Did you lose a good referral partner? How can you supplement the loss? How can you make sure you’re getting quality candidates from the increase? These questions are important ones to consider.
So pay attention to the hype and chatter, but believe in your data to show you the trends that are already right under your nose.