Social Media in Recruiting

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1 Social Media in Recruiting Using New Channels To Source Talent Benchmark Research White Paper Aligning Business and IT To Improve Performance Ventana Research 2603 Camino Ramon, Suite 200 San Ramon, CA (925) Copyright Ventana Research 2011 Do Not Redistribute Without Permission

2 MEDIA SPONSORS Ventana Research 2011 Page 2

3 San Ramon, California November 2011 Ventana Research performed this research to determine attitudes toward using social media in recruiting and talent management. This document is based on our research and analysis of information provided by organizations that we deemed qualified to participate in this benchmark research. This research was designed to investigate the social media-focused practices and needs of individuals and organizations and the potential benefits from improving their existing recruiting and talent management processes, information and systems. This research is not intended for use outside of this context and does not imply that organizations are guaranteed success by relying on these results to improve recruiting or talent management. Moreover, gaining the most benefit from initiating or improving the use of social media in this area requires an assessment of your organization s unique needs to identify gaps and priorities for improvement. We certify that Ventana Research wrote and edited this report independently, that the analysis contained herein is a faithful representation of our evaluation based on our experience with and knowledge of both social media and talent management, and that the analysis and conclusions are entirely our own. Ventana Research 2011 Page 3

4 Table of Contents Executive Summary... 6 About This Benchmark Research Methodology Qualification Demographics Company Size by Number of Employees Company Size by Annual Revenue Geographic Distribution Industry Job Title Role by Functional Area Key Insights Organizations increasingly use social media tools and systems for recruiting most positions Most have much room for improvement in using social media for recruiting Organizations are less permissive in their general policies regarding social media and networking during work hours Quality of hire is the most important metric for recruiting Organizations are more confident in using social media for recruiting than in managing social collaboration and learning Top social networking sites have taken the lead over the corporate career portals for new recruiting Human resources professionals are the primary users of social media for recruiting, and they spend the most time sourcing applicants Using social media can reduce recruiting and talent management costs, but most organizations are uncertain about the exact impact Most organizations do not pay for social networking as part of recruiting today but might consider doing so Most organizations use conventional tools for internal collaboration Knowledge sharing, collaboration and learning initiatives are primary purposes of social media use in talent management So far most organizations find only fractions of their new hires through social media sites, and many plan to change how they use them Advanced tools, particularly webinars, are starting to gain adoption for collaboration within organizations Few organizations have adopted software to work with social media for recruiting HR and recruiting organizations usually will fund future investments in social networking technologies Organizations will consider deploying recruiting processes in the cloud What To Do Next Assess your organization s maturity in using social media for recruiting Review your policies regarding social media and networking during work hours Use qualitative metrics for social recruiting as well as quantitative ones Ventana Research 2011 Page 4

5 Increase confidence in using social media for recruiting and collaboration and learning Ensure that you can perform at least the basics of recruiting on social networking sites as well as corporate portals Accommodate the needs of human resources professionals, who are the primary users of social media for recruiting Determine whether social media is having an impact on your recruiting and talent management costs Open a dialogue about whether to pay for social networking as part of recruiting Review the tools your organization uses for internal collaboration Assess how social media can help you improve talent management Consider changes that will help you find more new hires through social media and reach other goals Evaluate more visual tools for collaboration and interviewing Evaluate software dedicated to working with social media for recruiting Be clear about who will fund future investments in social networking technologies Consider deploying your recruiting processes in the cloud How Ventana Research Can Help About Ventana Research List of Figures 1. Participants by Company Size (Number of Employees) Participants by Company Size (Annual Revenue) Participants by Region Participants by Type of Industry Participants by Job Category Participants by Functional Area Ventana Research 2011 Page 5

6 Executive Summary Social media, initially created to enable individuals to use the Internet to connect with each other or broadcast their opinions, have taken the world by storm. Hundreds of millions of people use these sites and tools daily to do everything from post family pictures to challenge repressive political regimes. Now businesses are realizing that they too must ride this tidal wave, for both proactive and defensive reasons. Because so many employees are adept at using social media, it provides a ready-made channel for communication, collaboration and decision support. On the other hand, because anyone can comment publicly on a company s products, services and business practices, they must take steps to monitor and respond to comments and even try to anticipate them, shaping the dialogue while promoting their brands and protecting their reputations. This form of communication is naturally suited to the process of talent acquisition, from posting job announcements online to accepting and evaluating applications, to sharing relevant content with applicants and colleagues and to finding out more about potential hires through their participation in social networking sites. Once employees are on board, internal social media can help companies create talent communities that have the potential to make the whole organization more collegial and productive. They also can be a platform for new approaches to human capital management processes such as performance reviews, promotions and training and development. The impact of social media has only begun to be felt in business, but there s little doubt that it will be forceful. Organizations must take steps to use this technology to their advantage in recruiting and managing talent or risk losing the best and brightest candidates and employees to others that do. By mid-2012 companies expect to be using social media to source 82 percent of the kinds of jobs we inquired about. Ventana Research undertook this benchmark research to acquire real-world information about levels of maturity, trends and best practices in organizations use of social media in recruiting and talent management. It explores how they do this now, how people at various levels feel about the current processes and tools, plans they have to change or improve them, and benefits they hope to gain by doing so. Social recruiting is an emerging trend of which most organizations are aware: 57 percent of participants in this research said that social networking tools are important or very important in recruiting and applicant tracking activities. Almost every organization accesses external social media to augment those efforts; 59 percent use it at least monthly. By mid-2012 companies expect to be using social media to source more than four-fifths (82%) of the kinds of jobs we inquired about, including finance and administration roles, the front office, IT, line-of-business operations and education or learning functions; that will be an increase of 14 percent from current levels of sourcing. Additionally, more than half of participants expressed some level of confidence in their management of their social recruiting processes, although only 7 percent were very confident; this finding suggests that while usage is broad and increasing, organizations are not certain that they are reaping the full benefits from social media in recruiting. Ventana Research 2011 Page 6

7 The research findings show that organizations are moving beyond career portals and job boards to commercial social recruiting tools. While 6 percent of organizations still use corporate portals daily, weekly or monthly, 59 percent of all the social media recruiting that happens every month takes place on LinkedIn (which ranked highest in usage and importance among participants), Facebook or Twitter. Social media tools such as these introduce new ways of sourcing and enable a focus on what companies reported as the most important aspects of recruiting: finding high-quality hires who fit into the organizational culture, improving candidates experiences as well as hiring managers satisfaction, and reducing time and cost to hire. This benchmark research also uncovered several challenges in processes, technology and information that impede an organization s ability to benefit from social recruiting. The first of these is procedural and focuses on systems access: 23 percent of organizations actively prohibit social media use and social networking during business hours, yet the majority of these same organizations report that social networking is important to their business for recruiting and talent acquisition. Also, companies reported that they spend most of their time today on sourcing applicants (58%) and posting job opportunities (49%), More than one-third (38%) of companies are not confident in the effectiveness of their social recruiting processes. rather than on the later, potentially more productive steps in the hiring process. Insufficient information about the impacts of social recruiting on key recruitment measures is another impediment to organizational success with social media tools and technologies. More than one-third (38%) of companies said they are not confident in the effectiveness of their social recruiting processes. Close to one-quarter reported they do not know the impacts of social media usage on their talent acquisition costs. Similarly, 41 percent do not know what percentage of recent new hires were sourced with social media. These findings demonstrate the need for more education on how organizations use social media in recruiting and how to improve processes to deliver tracking, metrics and results from social recruiting. Most organizations still use conventional technologies not specifically designed to support social recruiting. Almost half use their existing applicant tracking system, and 16 percent use their human resources management system. More than onefourth (26%) rely upon spreadsheets and documents for tracking purposes. Such manual processes cannot enable full exploitation of the dynamic and often real-time opportunities that develop while interacting with candidates in social media environments. Along with unfamiliarity with the new environment, these technology impediments bear some responsibility for the relatively few actual hires sourced from external social sites: 55 percent of participants recruited fewer than one-quarter of their new hires in the past three months through social media sites. The research finds that only 15 percent of organizations are satisfied with their current efforts in social recruiting, indicating a market ready for rapid growth. This is underscored by the findings on the main reasons organizations will change the way they use social tools: to identify new talent pools (cited by 81%), gain competitive advantage (75%), improve recruiting processes (67%) and develop the talent Ventana Research 2011 Page 7

8 pipeline (58%). All of these are innovations or improvements not feasible using traditional HR tools and processes. Large majorities of those considering new technology reported that the capabilities they want from social recruiting software are to help them post jobs to social media sites (85%), promote their employer brand on those sites (80%) and track sourcing and referral information (73%). Given that the majority of time now spent on social recruiting is taken up by sourcing and posting jobs, these findings come as no surprise. However, these priorities do not square with the top measures participants identified as their criteria for effective recruiting: quality of hire, cultural fit and others. Capabilities that could help in these areas, such as providing for hiring manager feedback or ratings on candidates (46%) and having a virtual interview management system (43%) ranked low, an indicator of immaturity and lack of understanding of the innovative potential of social recruiting; people look to new systems first to address existing issues they now have to deal with. For these and other reasons, our Maturity Index analysis found only one in five organizations (19%) to be Innovative, the highest of our four maturity levels, while more than twice that many (41%) rank at the lowest Tactical level. Among the four categories in which we assess maturity, the fewest organizations are mature in Process (43% Tactical vs. only 7% Innovative) and Technology (55% Tactical vs. 18% Innovative). They are most mature in the People category (18% Tactical vs. 36% Innovative), largely because of recognizing the importance of social media in recruiting and willingness to use it. When asked about their organization s openness to begin paying for social media tools and services, half of participants were unsure, indicating that the volume of work is manageable with current free versions (48%). Those that said they would not pay cited concerns about the efficacy of social recruiting such as poor candidate quality (43%), unreliability (30%) and the lack of integration with core recruiting systems (26%). Overall, we believe there is an opportunity for companies that use social media in recruiting to examine and perhaps reconsider how they are measuring their recruiting effectiveness, and also to align their software requirements to ensure that features can improve business outcomes, not just make current processes more efficient. The main reasons organizations will change the way they use social tools are to identify new talent pools (cited by 81%), gain competitive advantage (75%), improve recruiting processes (67%) and develop the talent pipeline (58%). The research also reveals that more companies are using internal social collaboration tools to improve their talent management processes. Knowledge sharing, collaboration and learning are the areas in which most reported benefits from social tools. But here again the tools in use are conventional: company intranets, Microsoft Outlook ( ) and SharePoint, webinars and internal online communities. Despite the high value placed on internal collaboration tools and relatively frequent access by users (46% access these tools at least monthly), fully half of the Ventana Research 2011 Page 8

9 organizations participating in this research indicated they are not encouraging and managing informal social collaboration and learning very well; another one-third said they are doing only OK. Here as well, high activity levels are not necessarily producing significant business results: For example, fewer than 5 percent reported that the majority of their promotions were identified with internal social tools. In addition, most participants said they don t know if these social talent processes have an effect on their talent management costs. In social talent management, as in social recruiting, advances in technology and processes are required to determine the full potential to be gained from these tools. Our research shows opportunity for HR and Recruiting to take the lead in these social initiatives across the organization. These are the groups that most often will fund technology investments (45%). Software as a service (SaaS, 23%) is the deployment model of choice by a small margin in those with a deployment preference (which, however, 38% do not have); SaaS can free HR and Recruiting leadership from complex IT support and cost concerns over implementation and maintenance. Incorporating social media into recruiting and talent management has the potential to change people processes for all involved, from individuals to enterprises. To use these increasingly popular communication channels with success, though, organizations need to be clear about the objectives they are looking to achieve, to involve all pertinent people in supportive processes and to adopt tools that can help provide complete information and interactive capabilities. The day of social media has dawned; smart companies will prepare themselves for it as soon as possible. Ventana Research 2011 Page 9

10 About This Benchmark Research Methodology Ventana Research conducted this benchmark research over the Web from July through September We solicited survey participation via blasts, our website and social media invitations. invitations were also sent by our media partners and by vendor sponsors. We presented this explanation of the topic to participants prior to their entry into the survey: What began as a way for individuals to use the Internet to connect with each other or broadcast their opinions to the world has become a significant form of public social discourse and learning. Businesses are scrambling to catch the wave and explore ways to take advantage of social media to gain access to the most qualified pool of candidates. This benchmark research is designed to provide broadbased, authoritative analysis of the use of and interest in integrating social media into both acquiring talent and generating candidates to improve an organization s recruiting processes. We included the following definitions: Social Media Websites or Internet-using services that enable social interaction Social Networking The process and practice of interacting with others, typically using social media, to communicate and share information Social Recruiting Sourcing and hiring talent via social networks Talent Acquisition and Generation Identifying, sourcing and reviewing candidates as part of the recruiting process. The following promotion incented participants to complete the survey: All qualified participants will receive a report on our benchmark research findings and a quarterly membership to the Ventana Research Community valued at US$125 or 92. In addition, all qualified participants will be entered into a drawing to win a benchmark research report of your choice valued at US$995 or 732. If you re one of the first 50, we ll even throw in a Starbucks card loaded with $5. All those individuals who cannot receive a gift for participation will instead have a donation made to a nonprofit organization. Qualification We designed the research to assess the use of and plans for deployment of social media in recruitment and talent management. Qualification to participate was presented as follows: This survey is designed for HR, recruiting and business managers who acquire, develop and retain talent for their organization or are involved with the purchasing of social marketing tools, systems or services for talent acquisition and management. Solution providers, software vendors, consultants, media and systems integrators may participate Ventana Research 2011 Page 10

11 in the survey, but they are not eligible for incentives and their input will be used only if they meet the qualifications. Incentives are provided conditional on provision of accurate contact information including company name and company address. Further qualification evaluation of respondents was conducted as part of the research methodology and quality assurance processes. It entailed screening out responses from companies that are too small, questionnaires that were not materially complete, or those where the submission is from an inappropriate submitter or appears to be spurious. Demographics We designed the survey used for this research to be answered by executives and managers across a broad range of roles and titles working in organizations. We deemed 258 of those who clicked through to this survey to be qualified to have their answers analyzed in this research. In this report, the term participants refers to that group, and the charts in this section characterize various aspects of their demographics and qualifications. Ventana Research 2011 Page 11

12 Company Size by Number of Employees We require participants to indicate the size of their entire company. Our research repeatedly shows that size of organization as measured by number of employees is a useful means of segmenting companies because it correlates with the complexity of processes, communications and organizational structure as well as the complexity of the IT infrastructure. In this research, participants represented a broad range of organization sizes: About half the companies they work in are larger, and the other half are on the smaller side. One-fifth are very large companies (having 10,000 or more employees), about three in 10 are large companies (with 1,000 to 9,999 employees) or midsize companies (with 100 to 999 employees), and somewhat less than one-fifth are small companies (with fewer than 100 employees). This distribution is consistent with prior benchmark research and our research objectives and provides a suitably large sample from each size category. Figure 1 Participants by Company Size (Number of Employees) Very Large 20% Small 16% Large 31% Midsize 33% Source: Ventana Research Ventana Research 2011 Page 12

13 Company Size by Annual Revenue When we measured size by annual revenue, the midsize category lost more than half its share, and the small more than doubled to go from having the fewest to the most of all. By this measure, 6 percent fewer are very large companies (having revenue of more than US$10 billion), 3 percent fewer are large companies (having revenue from US$500 million to US$10 billion), 18 percent fewer are midsize companies (having revenue from US$100 to US$500 million), and 27 percent more are small companies (with revenue of less than US$100 million). Figure 2 Participants by Company Size (Annual Revenue) Very Large 14% Small 43% Large 28% Midsize 15% Source: Ventana Research Ventana Research 2011 Page 13

14 Geographic Distribution In this research all but 5 percent of the participants were from companies located or headquartered in North America. Those based in Europe accounted for 3 percent and in Asia Pacific and Central and South America for 1 percent each. While less diverse than usual, this result was in keeping with our basic expectations at the start of this investigation, since organizations participating in our research most often are headquartered in North America. However, many of these are global organizations operating worldwide. Figure 3 Participants by Region Europe, 3% Asia Pacific, 1% Central and South America, 1% North America, 95% Source: Ventana Research Ventana Research 2011 Page 14

15 Industry The companies of the participants in this benchmark research represented a broad range of industries, which we have grouped into four general categories and a miscellaneous one, as shown below. Companies in services accounted for nearly half of participants. They were followed by those in manufacturing (25%) and finance, insurance and real estate (FIRE, 13%). Government, education and nonprofit organizations and others accounted for the balance of 15 percent. Figure 4 Participants by Type of Industry Government, Education, Nonprofit 11% Other 4% Manufacturing 25% Services 46% Finance, Insurance, Real Estate 13% Source: Ventana Research Ventana Research 2011 Page 15

16 Job Title We asked participants to choose from among 13 titles the one that best describes theirs. We sorted these responses into four categories: executives, management, users and others. More than seven in 10 identified themselves as having titles that we categorize as users, a grouping that includes senior manager or manager (33%), director (25%) and staff (12%). About one-tenth are executives, and one-eighth are management, by which we mean vice presidents. The remaining 7 percent have other titles. Figure 5 Participants by Job Category Other 7% Executive 9% Management 12% User 72% Source: Ventana Research This is how we aggregated the 13 title response options: Executive CEO, President COO or Head of Operations CFO or Head of Finance Other CxO Management EVP or SVP VP User Director Senior Manager Manager Ventana Research 2011 Page 16

17 Analyst (Business, Financial, etc.) Staff Other Consultant Professor or Teacher We concluded after analysis that this response set provided a meaningfully broad distribution of job titles. Role by Functional Area We asked participants to identify their functional area of responsibility as well. This enabled us to identify differences between participants according to their roles in the organization, as shown below. The largest group, more than two-thirds, identified themselves as working in Human Resources; 7 percent are in Training, and 5 percent are executives. Seven other functions, each at 2 percent, accounted for 14 percent of the total; along with 10 other areas, each with 1 percent orless, they make up the Other category. Figure 6 Participants by Functional Area Other, 17% Executive / Management, 5% Training, 7% Human Resources, 69% Source: Ventana Research Ventana Research 2011 Page 17

18 Key Insights Our benchmark research yielded the following important general findings and key insights regarding the use of social media, processes and technologies in recruiting and managing talent. (We discuss the maturity levels of this market in the Maturity Index portion of the full research report; the actual questions asked in our survey are in the Appendix to the research report.) Organizations increasingly use social media tools and systems for recruiting most positions. This benchmark research finds that almost every participating organization (93%) uses Web-based social media in recruiting new employees. In addition, 56 percent incorporate internal collaboration tools and processes into their talent management initiatives. These adoption rates correlate to the level of importance organizations place on social processes: More than half of all participants said that social recruiting is important or very important to their organizations, and only 10 percent said it is not important for them. While this was generally consistent across all industries, it is notable that government and nonprofit agencies said that social tools are not relevant to their recruiting processes twice as often as companies in other industries, even though their policies around social media access are consistent with others. The research finds a willingness to use social media regardless of the type of position being filled. Among five general categories we asked about, the most (56%) said they currently use it to hire in finance and administration, but the front office, IT and operations all garnered more than 50 percent, and 49 percent use social media for the category of education and learning. From 19 percent to 23 percent plan to use it soon (within six months), and another 10 percent to 16 percent with a year. Thus in a short time social media will be a ubiquitous tool for business recruiting. Most have much room for improvement in using social media for recruiting. As part of our benchmark research, Ventana Research assesses the maturity of organizations in four categories: people, processes, information and technology. In areas where technology is well established, we often find that organizations struggle to bring their employees understanding and their business processes up to the levels of sophistication of the information and tools they use. In this emerging area, that is not the case. Our Maturity Index analysis finds organizations to be most mature in the People category, where more than one-third (36%) reach the highest Innovative level, substantially more than the next-most mature category, Information (24%). In this research, participants are least mature in Technology. This category has highest percentage of the four, 55 percent, at the lowest Tactical level. The Process category follows closely behind, with 43 percent Tactical and a mere 7 percent Innovative. More than half of participants in this benchmark research view social media as important for recruiting, and roughly the same percentage use it for that. But wielding the right tools effectively eludes many of them, as most still employ tools designed for other uses, such as spreadsheets and HRMS or applicant tracking software. And in process terms, so far the use of social media is sporadic and doesn t produce strong results: More than half (55%) said that just 25 percent or less of new hires in the last three months came through this channel. Ventana Research 2011 Page 18

19 Organizations are less permissive in their general policies regarding social media and networking during work hours. Despite the importance of these tools and the prevalence of their use, 23 percent of organizations have policies that actively prohibit accessing social media tools and networking sites (such as LinkedIn, Twitter, posting blogs and other online networks) during work hours. Those in management (that is, vice presidents, 80%) most often said there is a prohibition against such use. Nonetheless, more than half of all participants said their organization has a policy that allows their use. We conclude from the high adoption rates that access is available to at least some individuals even in the more restrictive organizations, likely in order that they can benefit from the broader talent pools and candidates available via the social networking forums. These research findings suggest that when this technology is used for a targeted purpose, organizations are more comfortable than when use could be indiscriminate. Quality of hire is the most important metric for recruiting. Participants overwhelmingly chose quality of hire (88%) as their most important recruiting metric overall, and nearly as many (79%) said that this is the most important metric in determining the value of using social media for this purpose. Cultural fit of candidates ranked second in both cases (68% in general, 66% for social media value). The source of the hire is important to only one-third (32%) of organizations in either case, suggesting that little bias exists against using the new channel of social media. Source of hire is important to nearly half (48%) of those in manufacturing companies, but only 22 percent in the Finance, Insurance, Real Estate (FIRE) sector said it is. Time to hire is important to more large (72%) and very large (60%) organizations than to small (33%) and midsize (40%) ones. Organizations are more confident in using social media for recruiting than in managing social collaboration and learning. Almost three in five (57%) organizations expressed some degree of confidence that they manage their social recruiting effectively. As further evidence of this confidence, almost three-quarters (74%) reported that they either use external social media sites to recruit all job functions we asked about or will do so within six months. When it comes to encouraging and managing informal collaboration and learning, though, half of organizations said they do not do it very well. This gives cause for concern because the top three priorities for utilizing social media in talent management are knowledge sharing, collaboration and learning. It is notable that when asked about the talent management areas that benefit from the use of social tools, a significantly large number of companies (27%) said there are none. Coupling this with the finding that 43 percent of companies do not know how social media impacts their talent management costs, we conclude that users of these tools and processes are not being provided with the metrics and identifiable business outcomes that would increase confidence in social talent management. Top social networking sites have taken the lead over the corporate career portals for new recruiting. Almost three-fifths (59%) of all the social media recruiting that happens on a daily, weekly or monthly basis is done via the top three social media channels (LinkedIn, Facebook and Twitter), far outpacing the usage of company portal career sites. As the resource cited as the most important and used by 87 percent of organizations, LinkedIn is the dominant recruiting resource; three-fourths of companies use it on at Ventana Research 2011 Page 19

20 least a monthly basis. However, the second-most important site (named by 47%) is the company s own career portal or online community, and nearly as many (46%) use it on a daily, weekly or monthly basis. The ability to post jobs to networking sites is the top requirement for users of social recruiting software. When asked about the capabilities they seek in social recruiting software, 85 percent of organizations predictably said that such software should be able to post jobs on social media sites. This is the task in which almost half (49%) of participants spend most of their time while using those sites, and so ensuring efficiencies in this process is paramount. The ability to promote the employer s brand on external social media sites was the second-highest software priority (chosen by 80%). More than half (57%) said that they want mobile access in this software, enabling those involved in recruiting to review candidate information at any time. Currently the least desired capability is virtual interview management (43%), but this could grow in importance as more organizations focus on mobile process management and adopt virtual meeting and video tools. Human resources professionals are the primary users of social media for recruiting, and they spend the most time sourcing applicants. More than two-thirds (69%) of participants identified their functional area of responsibility as Human Resources, and the research finds that they are the main ones using social media to procure talent. In nearly half of organizations (46%) two or three people manage this process, and in an additional 28 percent a single employee does so. Thus we conclude that at this point social media-based recruiting is not a team activity. The amount of time people spend using social media sites varies; one-fifth spend one to two hours a week, nearly as many spend three to five hours (17%), and 15 percent spend five to 10 hours. On the high end, another 20 percent spend more than 10 hours a week, while at the low end only 9 percent spend less than one hour. So more than one-third of organizations invest what amounts to about one full workday per week in wielding social media as a recruiting tool. As for how they spend that time, it most commonly (by 58%) is used to source applicants. Ranking second (49%) is initiating the process by posting job opportunities. And reviewing applicants is third (41%). Actually interacting with applicants consumes less of these professionals time: Only about one-third (36%) spend most of the time communicating with them, and even fewer share content (16%) or request referrals (15%). For this purpose, therefore, the definition of social is likely to be different than for the population at large. Using social media can reduce recruiting and talent management costs, but most organizations are uncertain about the exact impact. By using social media sites and/or services in their recruiting efforts, more than onethird (36%) of organizations have reduced their talent acquisition costs, 8 percent significantly. Only 7 percent have experienced slight increases. Optimizing time to hire and cost per hire ranked fifth (chosen by 41% each) in the list of metrics organizations use to measure the value of external social media sites and services, yet almost one-quarter (23%) of organizations don t know whether their talent acquisition costs have actually increased or decreased as a result of the use of social tools, and 34 percent said they have seen no impact. These responses raise the question of whether most organizations have the right measures in place to fully Ventana Research 2011 Page 20

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