“It’s not about what you know, it’s about who you know and who knows you.” The classic advice is popular for a reason: it’s right. The most successful employees are through connections, either from recruitment networking or employee referral programs. Building talent pipelines is the main concern of 83% of recruiters today.
Networking is known to be one the best ways to recruit the very best. 34% of employees report being proactively approached by recruiters. Networking recruitment for organizations provides a variety of advantages over the traditional approach to recruitment. Networking allows you to meet potential candidates in way of an informal interview before spending time and money on a formal interview. In addition, the 10:5 rule and 10:3 rule respectively states that a 10% increase in slate quality translates to 5% increase in hire quality and a 3% decrease in time to hire.
People do business with people they trust and like. Positions don’t always have to be filled by people who are actively looking for a job, they can be filled by people not looking for a job. This is an effective strategy and it is known as passive recruiting. Advantages to passive candidates include less competition and longer stay with the company. A good example of passive candidates includes students, who if are shown an opportunity and they posses the right skills will excel in that position. Organizations who ignore passive recruitment also miss out on half of the labour market, as only just over 50% consider were scored as active candidates by the Recruiting Roundtable.
In order to be successful with the passive recruitment strategy, you have to market yourself and your organization. Passive candidates are 42% open to hearing about job opportunities from a recruiter. The most effective ways at marketing yourself would include networking and social media. Universities are always open to employers coming to networking events. University clubs and organizations can help provide employers with the right candidate and opportunities to gain access to the large pool of students.
Simply said, organizations looking for the best candidates have to network: passive candidates have been proven to also outperform active candidates. Networking will allow you to recruit and retain the best and will keep your organization competitive in today’s labour market.