If you think job sites are not as significant any more, there is news for you. A good 65 per cent organisations continue to rely on job sites, such as LinkedIn, Monster, Indeed, Glassdoor and others, for effective hiring. These sites score high in terms of their reach and target audience.
Are job sites the only source of reliable hiring? Not really. About 11 per cent of the over 7,500 human resource leaders from across 48 countries and over 50 industries who were part of the Mercer Mettle survey admitted to depending on referral programmes. About seven per cent said they relied on social-media post, while six per cent said internal mobility was their go-to hiring channel. About six per cent referred to their company website for candidates.
Why do companies depend so much on job sites?
Well, these platforms act as hubs for companies to showcase vacancies and opportunities to an enormous pool of active and passive job seekers. The job seekers themselves find it convenient to access opportunities and present their candidature and profiles to a wide range of companies and employers.
The Mercer Mettle Global Talent Acquisition Insights 2024 report says that job sites are not merely websites with job postings. They serve as active ecosystems where companies/employers meet with job seekers/candidates, and vice versa. It is a common ground for talent seekers and job seekers to benefit from each other.
Employee-referral programmes are the second most popular hiring channel. After all, existing employee networks are a trustworthy way of finding suitable and qualified candidates. They also ensure that the candidates are good cultural fits.
In 2023, organisations did hire, but they hired with great caution reveals the report. About 56 per cent of the companies admitted that their hiring had dropped or had stagnated. Out of these, about 54 per cent were large corporations.