Social media recruiting is not a fad – it’s here to stay, it immensely helps in direct talent acquisition, as well as helping us to groom replacements from a wide talent pool external to an organization. While many organizations are still skeptical about the powers of social media recruiting, or may not be putting in social media efforts to the extent they need to, such organizations fail to understand that their businesses are losing their competitive edges by lagging behind in the talent hunt.
From a business standpoint it makes perfect sense to use social media for promoting a company and to integrate social media into talent acquisition strategies, because social media belongs to that important set of tools and facilities which are external to a company’s economy, and not part of its establishment overhead.
Even as I am writing this article, on July 23, 2013, Reuters posted that Ford is going to hire 3000 white collar workers through social media recruiting. In today’s world, this is the admission that came from Felicia Fields, Fords president of HR: “Engineers and technical professionals are in as much demand as our cars, trucks and SUVs.”
The market is always overcrowded with average candidates, but proper talent is always scarce and in high demand. Social media helps us here to uncover, approach, and woo talent, that would have been difficult to acquire otherwise, given that cold calling or cold e-mailing hardly works today with experienced workers. However, as every business knows, talent acquisition has its costs.
The costs of talent acquisition falls into two parts – recruitment, which comprises of sourcing as many well-qualified individuals as possible for filling a vacancy, and selection – the process by which we identify the best-qualified individual for filling a vacancy. The costs of not acquiring proper talent are, of course, felt everywhere throughout an organization.
Social media helps recruiters immensely in both processes of talent acquisition, and provides higher cost benefits, because engaging in social media recruitment adds the benefits of employer branding within the costs of executing talent acquisition. Essentially, for a business, social media recruitment turns much of the process expenses into social investment in the talent pool. And for businesses that matters.
Recent surveys from different companies like Jobvite and Bullhorn peg the percentage of employers using social media for recruitment between 90%-98%. That might seem an awfully big percentage, but it’s true, because that’s the percentage of established (read Fortune 1000) companies who are integrating social media efforts into their recruitment strategy. That percentage does not represent the percentage of candidates contacted and recruited directly through social media.
Closer to home, almost all smart companies that need smart people are using social media for recruitment. While companies like Ingersoll Rand International are using social media for employer branding and touching base with passive candidates, others like American Express India are going for active campaigns like putting up video job descriptions on YouTube.
And why you can’t afford to avoid social media can be summed up in a comment made by the head of human resources, Microsoft India to Economic Times as published on July 23. “Social media,” says RohitThakur, “isn’t just a tool or vehicle for attracting talent. It has evolved into a critical employee value proposition. Organizations with a well-evolved social media policy and presence will have an advantage in capturing the interest of Gen Y.”
If you are looking at the future of your business, you are looking at social media recruitment.