On April 17, I attended a presentation, “How to Build a Real Social Recruiting Process,” by Ed Newman, Chief Analyst of Inside TMT. He spoke to an audience of professionals involved in corporate leadership recruitment. This meeting was sponsored by the Recruiting Affinity Group of the Technology Association of Georgia (TAG). I was familiar with social media, but curious what “real social recruiting” was. Here are the highlights of what I learned.
There is a talent war going on, as corporations compete against one another for talent, particularly for managers and leaders. While there has been a plethora of new social media products and services to aid corporate recruiters, the value proposition, “quality of hire,” hasnot been achieved consistently. Why? HR and corporate recruiters have been using social media to identify and contact potential employees but not to initiate and sustain relationships.
Mr. Freeman asserted that HR and corporate recruiters need to adopt “real social recruiting,” defined as long-term scouting for potential future hires, initiated and sustained by social media and complemented by periodic face-to-face contacts, driven by third-party referrals. This allows recruiters to build a long-term relationship with potential hires, evaluating them and confirming the validity of referral recommendations. This is a networking model supported by relationship management with the goal of achieving “quality of hire,” selecting the rightcandidate for the right position in the right company. What do all of these “rights” mean?
First, a potential new hire must fit very well the company’s mission and organizational culture. Second, the potential new hire’s skills, knowledge and goals must match very well the position into which she is being placed. Third, the quality of the match will reduce the likelihood of a quick turnover, that is, the new hire will stay with the firm long enough for the firm to recoup it’s initial investment in hiring and training the new hire. Unfortunately, traditional HR recruitment efforts only yield a 50% success rate at this matching process. This is very costly for US firms.