Published on February 13, 2014
2013 Global Recruiting Trends US Snapshot Top 4 Recruitment Firm Trends You Need to Know ©2013 LinkedIn Corporation. All Rights Reserved. LinkedIn 2013 Global Recruiting Trends 1
The US Recruitment Firm Landscape at a Glance LinkedIn has conducted its 3rd Annual Global Recruiting Trends survey in 12 countries. We surveyed over 1,500 recruitment firm leaders to capture their thoughts on what keeps them up at night, trends in the recruitment industry, and key sources for high-quality placements. We distilled all this and more into 4 key trends you need to know, as a strategic recruitment leader, to be most effective to your candidates, your clients, and your company. 4 most important trends shaping the future of recruitment firms 1 Recruitment market is heating up, especially in the United States 2 Social professional networks are increasingly driving quality of hire 3 Firms must close the passive talent “capabilities gap” to stay competitive 4 Context and content in marketing are more important than ever For details on survey methodology, please see page 24. Global and other country-specific reports coming soon. LinkedIn 2013 Global Recruiting Trends 2
1 Recruitment market is heating up Especially in the United States LinkedIn 2013 Global Recruiting Trends 3
US hiring growth is far outpacing global growth 2013 Placement Volume 2013 Placement Volume Full-time and part-time Contractors, interim and temporary 100% 100% Increase 80% Same 80% 57% 67% 60% 60% 84% 40% Decrease 72% 40% 28% 23% 20% 20% 21% 12% 0% 4% 10% “Considering only full and part-time professional employees, how do you expect the volume of candidates placed by your organization to change this year? ” 0% 7% 15% “Considering only contractors, interim and temporary professionals, how do you expect the volume of candidates placed by your organization to change this year?” LinkedIn 2013 Global Recruiting Trends 4
And hiring volume remains healthy in 2013, but budgets have not kept up – requiring firms to do more with less Placement Volume Full-time and part-time Recruitment Budgets 100% 100% 80% 80% 53% 60% 78% 84% 51% Increase 60% Same Decrease 40% 40% 40% 20% 20% 15% 12% 7% 4% 2012 0% 45% 2013 “Considering only full and part-time professional employees, how do you expect the volume of candidates placed by your organization to change this year? 7% 4% 2012 0% 2013 “How has your organization’s budget for recruiting solutions changed this year?” LinkedIn 2013 Global Recruiting Trends 5
At the same time, competition is high in the recruitment market Biggest obstacles to attracting top talent Top 3 obstacles reflect a highly competitive landscape Availability of quality talent Competition Offer made by client (includes compensation, role, location, etc.) Recruiting team too small Inability to effectively use data to improve our approach Recruiting team skills Lack of familiarity with my firm’s brand Recruiting team doesn’t have the right tools/systems Lack of familiarity with client’s brand 65% 46% 33% 16% 11% 11% 11% 10% 8% “What are your company’s biggest obstacles to attracting the best talent?” LinkedIn 2013 Global Recruiting Trends 6
In this environment, efficiency is prized more than ever Top 5 most valuable metrics for recruitment firms Number of placements prioritized above all 1. Number of placements 2. Client satisfaction 3. Quality of placement 4. Candidate submittals 5. Time to place 40% 20% 16% 9% 3% “What is the single most valuable metric that you use to track your recruiting team’s performance today?” LinkedIn 2013 Global Recruiting Trends 7
2 Social professional networks Increasingly driving quality of hire LinkedIn 2013 Global Recruiting Trends 8
Social professional networks are #1 source of key quality hires by far Top 5 sources of quality hires 1. Social professional networks 2. ATS / internal candidate database 3. Internet resume databases 4. Internet job boards 5. Employee referral programs 63% 40% 37% 35% 32% 59% 45% 31% 39% 20% “Think about the key quality hires that your organization placed in 2012. Which of the following were the most important sources for those key positions?” LinkedIn 2013 Global Recruiting Trends 9
Social professional networks also the #1 long-lasting trend Top long-lasting trends Utilizing social and professional networks Finding better ways to source passive candidates Using an internal database to manage talent leads Boosting referral programs Reducing dependence on traditional job boards Posting jobs online Using mobile for recruiting Upgrading branding/marketing for staffing firms 69% 65% 39% 30% 24% 18% 18% 16% 70% 56% 39% 25% 21% 24% 18% 21% “What do you consider to be the three most essential and long-lasting trends in recruiting for professional roles?” LinkedIn 2013 Global Recruiting Trends 10
In fact, recruitment leaders view social professional networks as #1 competitive threat Top 5 competitive threats in recruitment 1. Use social networking and social media more effectively 2. Build and nurture strong talent pools or pipelines 3. Hire recruiters to strengthen the team 4. Use data more effectively 5. Invest in existing recruiting and/or tools (e.g., ATS, job boards, LinkedIn, etc.) 28% 25% 23% 22% 20% “What are the things that your competitors have done or may plan on doing that would make you most nervous?” LinkedIn 2013 Global Recruiting Trends 11
Our favorite tips: Using LinkedIn to source and attract high-quality candidates 1 It all starts with your profile. Your profile is your first opportunity to build your personal brand as a recruiting professional. Add a picture, get creative with your headline, and feature recommendations. Your profile summary should articulate why you’re a trusted partner. Think BRAND, not resume. 2 Engage your followers. Make sure your firm has a Company Page on LinkedIn, where members can follow your organization. Use Targeted Status Updates to share brand messaging, company news and open positions with your follower base – you can target by industry, function, geography and more. 3 Get involved in LinkedIn Groups. There are more than 2M Groups on LinkedIn. Join recruiting groups or those relevant to your key talent pools to keep your finger on the pulse. Participate in a few to brand yourself as an expert. And consider creating a group about your firm or industry to drive your company brand, build pipeline, and even source. For more tips and best practices, visit: talent.linkedin.com. LinkedIn 2013 Global Recruiting Trends 12
3 The passive talent “capabilities gap” Firms must close it to remain competitive LinkedIn 2013 Global Recruiting Trends 13
Passive talent is the #2 long-lasting trend Top long-lasting trends Utilizing social and professional networks Finding better ways to source passive candidates Using an internal database to manage talent leads Boosting referral programs Reducing dependence on traditional job boards Posting jobs online Using mobile for recruiting Upgrading branding/marketing for staffing firms 69% 65% 39% 30% 24% 18% 18% 16% 70% 56% 39% 25% 21% 24% 18% 21% “What do you consider to be the three most essential and long-lasting trends in recruiting for professional roles?” LinkedIn 2013 Global Recruiting Trends 14
90% of firms focus on passive candidates; more than half say passive talent is central to their recruiting strategy Focus on passive candidate recruiting 9% 1% Very much so – it’s central to our recruiting strategy To some extent 34% 56% Not much Not at all – we focus on active candidates only “To what extent does your recruiting organization focus on hiring passive talent? (‘Passive talent:’ individuals who are not actively looking for a job).” LinkedIn 2013 Global Recruiting Trends 15
Reasons for not focusing more on passive talent reveal a “capabilities gap” Reasons for not focusing on passive talent 4 out of 5 top reasons show skill and tool deficiencies 1. We get enough quality active candidates already 2. We haven’t been successful at it in the past 3. It takes too long 4. We don’t have the tools to do it well 5. We don’t know how to find passive candidates 34% 28% 21% 17% 14% “For which reasons does your organization typically not focus on hiring passive talent?” LinkedIn 2013 Global Recruiting Trends 16
Our favorite tips: Engaging passive candidates 1 Immerse yourself in the candidate’s world. Get smarter on the industry, using sources like LinkedIn Today to keep up with hot relevant topics. Research your prospect’s current role and leverage mutual connections when possible. 2 Build relationships, avoid being transactional. Send fewer, more targeted InMails. Compliment profiles sincerely, and ‘dangle a carrot’ to lure them in rather than blasting out lengthy job descriptions. Ask to connect and continue the dialogue. 3 Listen and adapt. Invite candidates to talk about themselves, uncover their needs/motivations, and keep detailed notes on their profiles or within LinkedIn Recruiter at every touchpoint. Reflect on their input as you explain why your client’s opportunity is right for them. For more passive talent tips and best practices, visit: talent.linkedin.com/passivetalent. LinkedIn 2013 Global Recruiting Trends 17
4 Context and content in marketing More important than ever for recruitment firms LinkedIn 2013 Global Recruiting Trends 18
Most firms spend money on marketing and advertising Advertising Spend 4% 16% Yes, on an ongoing basis 39% Yes, from time to time No No response 41% “Does your company spend money to advertise your business?” LinkedIn 2013 Global Recruiting Trends 19
Fastest-rising and falling marketing channels illustrate importance of professional context and high-quality content in brand-building Fastest-Rising and Falling Marketing Channels Top 10 Channels 2012 2013 Company website 61% 47% 34% 35% 13% 20% 15% 5% 9% 9% 57% 56% 37% 32% 18% 16% 13% 10% 10% 7% Online professional networks (e.g. LinkedIn) Friends/family, word of mouth Traditional Job Boards Public relations efforts Social media (e.g. Facebook) Search engine marketing (SEM) Content generation (whitepapers, blogs, etc.) Other online advertising Public recognition/awards Increase (+) Decrease (-) -4% +9% -3% +5% -4% +5% “Which channels or tools have you found most effective in advertising your business? LinkedIn 2013 Global Recruiting Trends 20
Our favorite tips: Content marketing for recruitment firms 1 Plan. Your objective: educate and convert a target audience (for example, your customers or candidates) through high-quality content. 2 Target. Identify a specific target market for your content. Ask yourself: What does that person care about? What does he or she want to learn? 3 Create. The best content starts with a strong title that piques interest (e.g., “7 Common Mistakes Made in the Hiring Process”) and delivers tangible tips or takeaways. 4 Distribute. Share your content through channels including social media and your company’s website and blog. On LinkedIn, distribute your content via company status updates, your team’s personal status updates, targeted advertising, and LinkedIn Groups. For more content marketing tips and best practices, visit: http://lnkd.in/ContentWebcast. LinkedIn 2013 Global Recruiting Trends 21
More information & Next steps LinkedIn 2013 Global Recruiting Trends 22
Talent Acquisition is… Complete the sentence with a single word or phrase: "Talent acquisition is..." LinkedIn 2013 Global Recruiting Trends 23
Trends Survey Sampling and Methodology Survey Sample Survey respondents are talent acquisition professionals who: – – – – Data Comparisons work for a recruitment firm represent an even mix of small, medium and large firms have at least some budget authority focus exclusively on recruiting professional hires for clients Survey respondents are members of LinkedIn who have opted to participate in research studies. They were selected based on information in their LinkedIn profile and contacted via email. Global comparisons are reported as un-weighted averages from the noted countries Historical data comparisons are taken from 2012 Global Recruiting Trends research, which had similar sampling criteria and methodology to 2013 – – 2013 survey fielded April-May 2013 with 292 US respondents 2012 survey fielded May-July 2012 with 416 US respondents Nordics: 89 Netherlands: 182 Canada: 200 UK: 188 France: 101 China: 90 USA: 292 India: 170 Australia: 201 LinkedIn 2013 Global Recruiting Trends 24
To learn more…. 2013 Global Recruiting Trends Reports – Recruitment Firms Global and Additional Countries: COMING SOON Stay in touch: Subscribe to our Blog: talent.linkedin.com/blog/ Follow us on SlideShare: slideshare.net/LinkedInRecruitmentFirms Follow us on Twitter: @hireonlinkedin Follow us on YouTube: youtube.com/user/LITalentSolutions Discover additional insights: talent.linkedin.com Follow LinkedIn: linkedin.com/company/linkedin LinkedIn 2013 Global Recruiting Trends 25
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