How To Efficiently Hire From Employee Networks

[fa icon="calendar'] Mar 18, 2016 7:54:48 AM / by Andy Wolfe posted in Recruiting, Sourcing, Referrals

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How much time do you spend combing through your employees’ networks?

If your answer is “not much,” read why the best hires come from employee connectionsIf your answer is “a lot,” here are some tips on how to mine employee networks more efficiently to improve quality of hire, time-to-hire, and cost-per-hire.

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How To Engage Employees To Identify Top Connections

[fa icon="calendar'] Mar 10, 2016 1:12:14 PM / by Andy Wolfe posted in Recruiting, Referrals, Sourcing, Hiring

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It's no secret that employee networks are full of great candidates, but did you know that companies only regularly hire from a pool of about 5-10% of their employees' connections? This is because: (1) most of an employee's connections are not very strong (e.g. they're acquaintances from a conference), (2) most of an employee's former colleagues aren't the standout few who were fantastic, and (3) most employees don't regularly participate in even the most robust employee referral programs. Probably no big suprises, here, but the implications are.

We've already seen that big bonuses are not that effective in identifying top employee connections; so, how do you drive participation and find more great people?

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Why Big Referral Bonuses Don't Yield Big Results

[fa icon="calendar'] Mar 2, 2016 3:31:29 PM / by Andy Wolfe posted in Recruiting, Sourcing, Referrals

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Identifying top employee connections is crucial for companies that want to hire great people fast. 

That's why most companies offer a monetary reward when employees refer their friends. While large referral bonuses seem like a great incentive, they're not always as useful or cost-effective as one would think.

Why is it that big bonuses don't actually yield big results?

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The Recruiter's Dilemma: Quality Of Hire vs. Time To Hire

[fa icon="calendar'] Feb 24, 2016 5:00:39 PM / by Andy Wolfe posted in Recruiting, Sourcing, Hiring

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Every recruiter is faced with the age-old dilemma of having to decide between hiring fast and holding out for the perfect candidate.

You want to accelerate time to hire, but you also need to ensure you’re bringing qualified players to the team. How do you decide on: quality of hire vs. time to hire? 

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Save Time, Hire Better With Smarter Sourcing

[fa icon="calendar'] Jan 28, 2016 10:47:52 AM / by Andy Wolfe posted in Recruiting, Sourcing, Hiring

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Time-to-fill and quality-of-hire are two of the most important metrics for typical recruiting teams. However, they seem to be at odds with each other. It's no surpise that sourcing top talent is time consuming and imperfect. In fact, U.S. companies spend $5B a year on recruiting software, yet 50% of hires are mistakes.

So, how can heads of talent save time and hire better? The answer: smarter sourcing.

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