Even though it may not seem like it when you’re in the middle of a job search, recruiters are looking for you. LinkedIn recently released a study titled The Ultimate List of Hiring Statistics for Hiring Managers, HR Professionals, and Recruiters.
Despite the title, the study boasts a bundle of information pertinent to your job search. I don’t work for LinkedIn, but as a resume writer and career coach, I recognize how important it is for my clients to apply these hiring statistics to their careers. Let’s reverse engineer some of the data for the job seeker side of the desk.
- Know your competition: 70 % of the global workforce is made up of passive talent who aren’t actively job searching, and the remaining 30% are active job seekers. 87 % of active and passive candidates are open to new job opportunities. Although only 30% of the workforce are actively looking for a job, the great majority will look at an opportunity if it is presented to them.
These stats give an accurate picture of the competition. You must consider both passive and active candidates in your competitive analysis.
- Know where the competition is looking: The top channels people use to look for new jobs are online job boards (60%), social professional networks (56%), and word of mouth (50%).
If you are mainly browsing job boards and applying online, you are putting yourself in competition with a great number of people. Using your network and actually talking to people net you better and faster results.
- Know the climate: The #1 reason people change jobs is career opportunity.
It wasn’t all that long ago that the recession was causing employees to hang onto jobs they despised because they were afraid they would never have another one. Desperation isn’t coloring the job market as much as it did then. This is likely to mean more qualified competition for a position.
- Work your network: The #1 way people discover a new job is through a referral. Companies can expand their talent pool by 10x by recruiting through their employees’ networks. Employee referrals are a top source of quality hires along with social networks and internet job boards.
You’re going to find better fitting jobs through your network than through job boards. If recruiters know they can expand their talent pool by recruiting through employee networks, that is a good place for you as a job seeker to be.
- Know where help is available: 35 % of employees refer to help their friends. 32% do it to help their company. 26% do it to be seen as a valuable colleague. Only 6% do it for money and recognition.
If 67% of employees are willing to help out, they have the best interest of others at heart. Don’t be afraid to reach out and get to know them.
- Ask for feedback: 94 % of talent wants to receive interview feedback, but only 41% have received interview feedback before. Talent is 4x more likely to consider your company for a future opportunity when you offer them constructive feedback. 94 % says being contacted by their prospective manager can make them accept a job offer faster.
One of the most encouraging pieces of data is that recruiters are learning that candidates want to receive interview feedback. Perhaps they will start giving more of it, including communication from the prospective hiring manager. So, if you don’t land the job, ask the recruiter for constructive criticism.
- Where the information is: The most effective talent branding tools are company websites (68%), online professional networks (i.e., LinkedIn), and social media (i.e., Facebook, Twitter).
The message here is that if companies are branding themselves with web sites, online professional networks, and social media, then that’s where you will find the people you need to talk to about your next job. Be there, too.
The Power of LinkedIn
- Over 75 % of people who recently changed jobs used LinkedIn to inform their career decision. Top recruiters are 60 % more engaged with LinkedIn recruiting tools (vs. average recruiters). LinkedIn influenced hires are 2x more likely to be high demand and above average hires. New employees sourced through LinkedIn are 40 % less likely to leave the company within the first 6 months. Social professional networks are the #1 source of quality hires followed by internet job boards and employee referrals.
The source of these statistics is LinkedIn, so don’t be surprised by the focus. But don’t ignore the import, either. If more than 75% of recent hires used LinkedIn, where the best recruiters find better quality hires who stay longer, recruiters are going to be using LinkedIn even more. This is an important place for job seekers to be.
The bottom line is that LinkedIn has grown into the most influential job search tool next to your own professional network. If you have doubted its importance to your job search, give it up.
You don’t have to have a premium membership, so this isn’t going to cost you anything unless you want it to. Join, complete your profile, and develop your connections. It will help your job search and your career.