People are a company’s greatest asset. Without front-line employees to support and grow a company, there would be no company. This is exactly why so many resources go into finding, attracting and onboarding new employees. This candidate-driven market takes a toll on sourcing and retention, especially when working to find skilled hires with a cultural fit.
In fact, 46% of recruiters say finding candidates in high demand talent pools is a top obstacle for their company. Here’s the good news: your people truly are the greatest asset, even when it comes to filling your candidate pool with skilled workers. Take a look at what we mean.
People are 3 times more likely to trust company information from employees than from the CEO
Maintaining a positive employer brand has been gaining more focus in the HR and recruiting world and for very good reason. Applicants today are far more interested in hearing what current and previous employees have to say about a company than what the CEO and marketing team do. Think of it this way, when buying a product do you trust the salesman more or the product reviews from actual users? Most people would say that they prefer to trust the actual users. Candidates are no exception.
Crowdsourcing an opinion about a potential employer has become de rigueur for jobseekers, who use companies like Glassdoor, Google and even private communities to get the real scoop on a position.
Nearly 74% of recruiters said the best-quality candidates come from employee referrals
Whether you believe the old “birds of a feather” adage or not, hiring teams are finding that when an employee refers an interested candidate, they generally hit all the requirements to not only do the job, but actually excel. If finding skilled candidates is a challenge for your organization, consider explaining the openings to your current top performers. A solid employee referral program is a must for every company serious about hiring. It cuts down on recruitment costs and creates a team goal for new hires to succeed.
51% of employers say referred hires are a better fit culturally and match values better than other hires
Not only can employees source suitable candidates, they generally find people who better match the culture and align with company goals. Because employees are able to properly express the real environment and not the one that is portrayed via other channels, these applicants have a more accurate understanding of the organization. This is probably why…
Employees referred by other employees stay with organizations longer
The clearer idea of the organization’s direction, values, mission and the intricacies of being employed in various departments allow for better understanding of the work and generally an easier time hitting productivity goals sooner. Productive employees are happy employees and happy employees are excited to continue working with their company. Bonus: people who make successful employee referrals stay longer, too.
69% of candidates would not take a job with a company that had a bad reputation, even if they were unemployed
This is employer branding at work. Candidates research companies, even those who are actively seeking new employment. If interested candidates can only find negative reviews, have no trusted internal resource or, worse, have a resource with nothing good to say, you can bet they are taking their resume elsewhere. Taking control of your employer brand is absolutely pivotal in today’s market and the best way to start is with those who are already a part of the team.
Time-to-hire for employee-referred candidates is 55% faster than candidates sourced elsewhere
Consider all the time the hiring team pours into finding candidates and convincing them to apply. Writing and placing job advertisements, receiving and reviewing resumes… The pieces add up and the amount of people necessary to complete them all are more and more resources on top of that. When employees refer applicants, a great deal of the work has been assumed by someone else, so the internal team can focus more on interviewing and hiring. One study estimates the average referral takes 29 days to hire while a candidate through a job posting takes 39 and a candidate through the career site takes 55.
“…candidates are more likely to listen to their own network and their friends. Our employees are the ones who can most accurately vouch for what it’s like to work here. Employee referrals get us a lot further in the conversation than we otherwise would have.”
Steve Klingensmith, Booking.com
Summing it all up
Attracting and hiring employees take a great deal of your company’s resources, no matter how it’s done. When a new hire joins the ranks, excited and ready to work, don’t kill their enthusiasm with an unprepared or boring onboarding process. With Click Boarding, onboarding new employees is not only easier for your team and new hire, it’s more organized so you don’t have to be. Schedule a demo to see what Click Boarding can do for your employees, new and tenured.