Our 7th annual Source of Hire whitepaper was completed and published last week. [As is our custom, we don't charge nor do we collect any info from folks who download the pdf.]
This year we had data on 300,000 hires to work with. Slow improvement in data quality but a long way to go.
Some conclusions:
Internal Transfers and Promotions constitute 30.0% of all the positions a company fills.
Referrals (employee, alumni, vendor, etc.) make up 28.7% of all external hires and are arguably the number one external source. The efficiency of referrals i.e. ?every third referral turns into a hire? is one of the single most important characteristics of US hiring practices?and not leveraged as well as it might be
Hires attributed to Job Boards (including the Company site as a job board) represent 25.7% of external hires.
Unfortunately Hires attributed to the Company Website are half of the Job Board category and, in our opinion, suspect (we maintain that the company website is a destination not a source).
The most visible trend in 2007 was the growth of Direct Sourcing (and a related reduction in agency hires).
For the first time in seven years of conducting this survey, more firms are predicting that they will make fewer hires in 2008 than 2007 (anticipating Warren Buffets eclaration of a recession)
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