Is hiring on the upswing in 2010?

CareerXroads Releases 9th Annual Sources of Hire Study

February 24, 2010: CareerXroads releases its 9th Annual Sources of Hire (SOH) Study, a snapshot of how large, highly-competitive, high-profile firms maintain and track their SOH data. Why is this important? Monitoring the sources of actual hires tells companies where to dedicate their hiring resources and tells job seekers where to direct their efforts.

Highlights from the study include:

• Internal Transfers and Promotions were the source of 51% of ALL the full time positions companies filled on average - a significant increase from the prior year and one directly impacted by the economy. Expect this to fall back to normal ranges in 2010.
• The most efficient way to hire someone or find a job? Referrals, referrals, referrals. Referrals make up 26.7% of all external hires. Corporate plans for 2010 indicate a strong interest in leveraging referrals.
• 2010 looks bright. Two years ago (January 2008) we asked respondents about their future plans and, for the first time, more firms predicted that they would make fewer hires in 2008 than 2007 (and they eventually confirmed that prediction by filling 22% fewer openings). 2009 was even grimmer. 100% predicted at the beginning of 2009 they would fill fewer openings... and they did... 27% fewer. This year only 10.8% predicted further reductions in hiring while 48% expect to grow and the remainder to hold steady. If realized, the predictions for 29% growth in 2010 would bring the recruiting function back to front and center.

Survey author and CareerXroads co-founder Mark Mehler notes, "Corporate staffing is poised to expand in 2010 and they are looking at creative, cost-effective initiatives. Social media, search engine optimization and methods involving direct sourcing will be key for employers and those looking for work this year."

For a detailed breakdown of all hiring sources and opinions of how these trends could influence 2010 hiring activities, read the full report.

About CareerXroads

Gerry Crispin and Mark Mehler, co-founders of CareerXroads^®, work with corporations to better understand and adopt cutting-edge, recruiting technology solutions for their staffing strategy and process. They are also the personalities behind the CareerXroads Colloquium - a group that brings together recruiting professionals who share a passion for critical analysis and sharing what really works (and what really doesn't) in recruiting. Learn more at www.careerxroads.com CareerXroads is your Staffing Strategy Connection.

###

Media Contact:
Mark Mehler
732.821.6652
mmc@careerxroads.com or 732-821-6652.