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It wasn’t very long ago that most people found jobs through friends, and companies filled positions through employee referrals.
Yet according to a survey released the week of May 12 by Jobvite, the recruitment times have a-changed, and worker referrals are being pushed out by online social networks.
Jobvite found that the clear majority (78 percent) of companies surveyed were using social media outlets such as Facebook and LinkedIn to find candidates. Recruiters were behind on this trend, but only slightly (64 percent).
Meanwhile, eight out of 10 employers said fewer than half of their employees refer candidates, despite bonuses offered through employee referral programs. Though most bonuses were between $1,000 and $1,500, companies said they paid out less than $25,000 a year.
So what gives? Are workers less inclined to recommend their friends and associates for jobs because sites like LinkedIn are doing such a good job that they no longer need to? Or are there other factors at work?