Hiring Trends

In a recent Career Tools cast (http://www.manager-tools.com/2010/01/how-transfer-between-states-industr...) we told you that the way to move between states, industries or specialisms was to take small steps, looking first at opportunities within your current organization, and that working your network was even more important than in a 'normal' transition.

A recent hiring trends report from Careerxroads.com shows one of the reasons why this strategy is likely to be successful. 51% of hires in 2009 within their surveyed companies were filled by internal applicants. That number, of course, is inflated in 2009 by the effects of the economic downturn, but it shows that if there are capable internal candidates, hiring managers will take them. There is a common misconception amongst candidates that external candidates are favored. Wise hiring managers know that the ramp-up time of internal candidates is far shorter than for external candidates, and that their existing internal relationships have a value which needs to be taken into account when selecting a new employee. Obviously, the recession increased the wisdom of hiring managers.

The second interesting point in this report (at least as it pertains to the cast - there are many interesting points), is that 26% of external hires are made as a result of referrals. Recruiting departments know that referrals often have a higher quality of hire, and are cost effective when weighed against advertised positions. Referrals often take priority over other hiring sources within the recruitment system. That's why it's important for you to have a network and to use it when in transition. Whilst referrals aren't always the single biggest source of hire, recruiting departments are always trying to make them the single biggest source due to their benefits.

Finally, the report predicts 29% in growth in hiring in 2010. That's good news for everyone.

http://www.careerxroads.com/news/SourcesOfHire10.pdf