89% of U.S. Companies Will Use Social Networks For Recruiting

Jobvite released an interesting report looking at employers’ use of social media in the recruiting process. The biggest takeaway, as illustrated above, is that 89% of U.S. companies will use social networks for recruiting.

That’s a lot. However, it also means that 11% aren’t even bothering to check out LinkedIn, which I find pretty interesting, given how much professional information there is on the network.

Some other key findings:

  • 55% will increase their budgets for social recruiting; referrals, corporate career sites and direct sourcing are other top categories for increased investment.
  • Referrals, direct sourcing and social networks are the top rated external sources for quality candidates.
  • Only 16% will spend more on job boards and a third of respondents plan to spend less on job boards, third party recruiters and search firms
  • LinkedIn has led in recruiting usage each year and now almost all of those surveyed (87%) use the professional network, up from 78% last year.
  • Recruiting usage of other major networks stayed fairly steady with 55% using Facebook and 47% using Twitter.
  • But now, most (64%) have expanded their social recruiting programs to two or more social media channels; and 40% use all three top networks – LinkedIn, Facebook and Twitter.
  • 77% of survey respondents expect increased competition for talent.
  • Nearly 2/3 of companies intend to recruit from competitors in the year ahead.
  • Among companies anticipating increased hiring this year, 95% now use or plan to start using social recruiting.

Source: http://www.webpronews.com/89-of-u-s-companies-will-use-social-networks-for-recruiting-2011-11

Social Network Ad Revenues to Top 5 Billion in 2011

Source: http://www.marketingpilgrim.com/2011/10/social-network-ad-revenues-to-top-5-billion-in-2011.html

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To quote an old cigarette commercial, you’ve come a long way, baby. As recently as 2009, social media ad revenue barely crossed the $2 billion mark. This year, eMarketer predicts the number will hit $5.54 billion, rising to $9.99 in 2013.

Right now, the US is responsible for most of the spend, but the rest of the world is coming on strong. By 2013, 51% of the ad revenue will come from outside the US.

As you can probably guess, most of the money is going to Facebook, but Twitter is pushing for more and more. eMarketer added LinkedIn to their predictions this year, figuring them for 3% of the ad revenue in 2011. This represents a big jump over the last few years, but eMarketer says that growth spurt is already leveling off.

Of course, the best thing about social media marketing is that you don’t have to spend $5.54 billion in order to make it work. Sometimes all you need is a free Twitter account, a free Facebook Fan Page and a content producer who knows how to speak to your audience.

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