Stop throwing good money after bad was one piece of recruiting advice for companies offered by Jim Milton, director of product marketing for SelectMinds, which produces talent acquisition and social recruiting software, when I interviewed him recently.
If you're posting jobs in the same places, but making fewer hires there, you've got to step back and reassess, he told me. Of course, his company's software makes it easier for employees to match internal jobs with folks they know from their social networks and he certainly wants to promote referrals.
But for job seekers and employers alike, a piece in The Wall Street Journal highlights just how inefficient the big job boards can be. It reported earlier on a Corporate Executive Board survey that found that 80 percent of companies plan to use alternatives to the major job boards this year.
Based on an analysis of hiring data, Jobs2web found companies look through about:
Jobs2web analyzed 1.3 million applications and 26,000 hires in 2010.
The article doesn't break out niche job sites, though the number of them has doubled since 2000, according to Workforce Management. It quotes consultant Peter Weddle saying:
When it comes to finding a job, even social-network aficionados know to go to the job site with the most impact.
A January study by consultancy CareerXroads found that half of all openings are filled internally. And the report added:
Reports of job boards' death are, perhaps, premature.
It put hiring from referrals at 27.5 percent, job boards at 24.9 percent, company career sites at 18.8 percent and college recruitment at 18.8 percent.