The editors at Masters In Human Resources Degree Guide decided to research the topic of:
LinkedIn - Revolutionizing the World of Recruiting
LinkedIn is the social media enigma, the one social media site that seems to have a profoundly stronger impact on companies than it does on its users. For people looking for jobs, LinkedIn is still just one part of a very difficult process. But for recruiters? It's a gold mine. It is changing the world of recruiting, and the metamorphosis is just beginning.
- 200 Million: The number of users on LinkedIn
- 200+: The number of countries in which LinkedIn users live [1]
But . . .
- 50.5%: The percentage of LinkedIn users who have complete profiles [2]
- 0-2 hours: The amount of time per week most users spend on LinkedIn [2]
- LinkedIn works in the opposite direction from most social media networks. The masses supply their information so that the choice few in recruiting positions can engage them.
- Recruiters love LinkedIn. It has changed the way jobs are placed. And we really have seen just the tip of the iceberg.
- 77% of all job openings are posted on LinkedIn. [3]
- 48% of recruiters post jobs on LinkedIn and nowhere else on social media. [3]
- $3,500: The amount it costs to recruit and hire the average employee in the U.S. (not including training). [4]
- 10% of jobs are filled using job networking sites (most notably, obviously, LinkedIn). [4]
- 73% of recruiters filled a position using social media in 2012, a 15% increase from 2011. [9]
- 89% of recruiters have filled a position using LinkedIn at some point in time. [9]
- Only 3% of all recruitment spending goes toward job networking sites. [5]
- 97% of all HR and staffing professionals use LinkedIn in their recruiting efforts. [5]
How long will recruiters continue to spend more on job boards and recruiting agencies when LinkedIn delivers more recruits at less expense?
Not long: LinkedIn rates are expected to raise rates on recruiters in 2013, between 4 and 9%. [8]
- $1.44 billion: expected revenue in 2013. [8]
- 80% The number of users on LinkedIn who aren't currently seeking employment. Recruiters can pick and pursue the candidates of their choice, people who aren't even looking for work. [6]
- 40%: LinkedIn's market share in the online job search industry. [5]
- Increased honesty: It's difficult to lie about one's experience when every contact you've ever known can view what you've posted about your professional exploits.
- Globalization: Case in point, Etisalat in the United Arab Emirates, contracted with LinkedIn to transform their hiring services. LinkedIn has the ability to impact the job hunt well beyond this nation's borders. [7]
- 37 million: LinkedIn users to begin 2009
- 187 million: LinkedIn users to end 2012
- Social Recruiting
- 54% of recruiters use twitter to search for candidates
- 66% use facebook to recruit
- 93% use LinkedIn [9]
All recruiting professionals are aware (though a pesky few still resist) that LinkedIn has been a major influence in the industry. But with a greater ROI than just about any other source than internal hiring programs, LinkedIn has the potential to completely revolutionize how companies fill their vacancies. The tides of change are already swelling - look for a tidal wave in the coming years.
And please, for the love of all that is good, complete your profile.
- [1] http://blog.linkedin.com/2013/01/09/linkedin-200-million/
- [2] http://theundercoverrecruiter.com/infographic-linkedin-user-statistics-network-profiles-groupsapplications/
- [3] http://www.bullhornreach.com/cmsites/default/files/BullhornReachRankingsReport%20Final_1.pdf
- [4] http://www.reuters.com/article/2011/11/17/idUS176507+17-Nov-2011+PRN20111117
- [5] http://beta.fool.com/adamlevy/2013/02/20/linkedin-recruiting-room-run/25009/? ticker=LNKD&source=eogyholnk0000001
- [6] http://www.ere.net/2012/07/02/20-reasons-why-linkedin-will-be-the-1-recruiting-portal-of-thefuture/
- [7] http://press.linkedin.com/News-Releases/290/The-Etisalat-Group-Chooses-LinkedIn-to-Transform- Talent-Acquisition
- [8] http://www.ere.net/2013/02/07/as-revenue-soars-linkedin-announces-plan-to-raise-recruiter-rates/
