Social Media Sites Make Referrals Easier and Even Cheaper to Find

According to software recruiting company Bullhorn, about one-third of recruiters say referrals set candidates apart while a general token of industry knowledge states that they also typically deliver the best candidates, as well. With the dawn of social media, those referrals have now become both cheaper and easier to find. But the networking technology is most efficiently used if companies use social media sites to talk up corporate culture, job vacancies, and allow employees to share experiences across the network.

As a tool for recruiters, social media helps tap into wider networks with large pockets of high-quality candidates in the labor market. SuccessFactors has reported that 39 percent of HR leaders use social media to communicate with job candidates and 34 percent use social media for targeted recruiting campaigns. Jobvite’s new Social Recruiting Survey states that 43 percent of recruiters think social recruiting has improved the quality of applicants and 20 percent said it takes less time to hire.

Social recruiting also costs less per hire compared to traditional methods, largely due to the need for fewer recruiters, less advertising, and better candidates. Recruitment also becomes more of an internal issue, avoiding the need for third-party agencies. Social media is not only beneficial as a free referral and recruitment tool but as a creative means for building and maintaining a brand.