Kevin Walker, Director of Employer Insights at Indeed, revealed the truth about active and passive job candidates and the best way to recruit talent.
Walker began his thought leadership presentation at the 2016 Human Capital Leadership Forum held in Chicago on May 5 by noting that Indeed collects six terabytes of data daily on people looking for work, and 80.2 million people visit Indeed’s site each month looking for jobs.
“We hear that 80% of job candidates are passive and companies have to go out and find good candidates,” said Walker. “I couldn’t find information to confirm the truth of this statement, so we asked the Harris polling company to ask questions of job seekers to get accurate data. We found that 81% of respondents to this poll said they actively look at job opportunities; of these, 58% look at job opportunities at least monthly. Only 19% said they never look at job opportunities.”
“We found that 81% of respondents said they actively look at job opportunities; of these, 58% look at job opportunities at least monthly.”
Most people who are looking for work are currently employed, and 90% of employed adults hired within the past year took some kind of action to find a job six months prior to being hired, Walker reported. Regarding job alerts, 44% of currently employed people receive such alerts, and many do so on mobile devices.
“This brings us to something you need to be aware of,” said Walker. “Check your company’s job site on your mobile phone so you can experience what a job seeker is going to find. Can you read the job descriptions? Can you apply online?” Many companies haven’t solved the challenge of making it possible to apply to a job using a mobile phone, he observed.
“Interestingly, 65% of people are back on Indeed looking at job opportunities within 90 days of being hired,” said Walker. “Half of new hires making $100,000 to $110,000 annually are looking at job opportunities within 28 days of being hired. This doesn’t mean all of these people want to switch jobs; it’s simply that they’re keeping abreast of the job market.”
Candidates must make seven major decisions before they become a new employee. These steps are:
• Consider a change.
• Consider a company.
• Consider a position.
• Commit to the process (interview, drug screen, offer consideration)
• Accept the offer.
• Show up the first day of work.
“The first of the seven steps mentioned above is by far the most stressful,” said Walker. “So why do people decide to make a change?” There are two reasons: They see an inspiring opportunity or they’re so disillusioned that they’re pushed to look for something else. Sometimes it’s a combination of the two.
“Active candidates have already done most of the psychological work to prepare themselves for change. In addition,” said Walker, “I believe it’s never been easier to find talent. The challenge is finding the skillset and culture fit that aligns with the company’s needs.”
“It’s never been easier to find talent. The challenge is finding the skillset and culture fit that aligns with the company’s needs.”
Walker emphasized that the whole idea of active and passive candidates isn’t relevant anymore. “Rather, I invite you to think about candidates in terms of inbound and outbound,” he said. “Inbound refers to candidates that apply to your organization, and outbound refers to candidates that you contact.”
Walker offered three effective practices for finding the right talent:
• Sequence recruiting tactics to maximize quality, cost, and performance. This means focusing on free inbound traffic (post a job on your APS) and using paid inbound recruiting only as a last resort. Focus outbound efforts on the jobs that are likely to be chronically unfilled.
• Shape your candidate pipeline by paying attention to 1) creative job titles and descriptions that draw the kind of talent you want and perform well in searches, 2) the way your career site is conformed, 3) streamlining your application process (making it easy to apply on mobile devices), and 4) generating third-party company reviews.
• Build a platform for inbound recruiting. Recruiting technology is continually evolving and looking more like marketing technology, Walker noted.
ABOUT KEVIN WALKER:
As Director of Employer Insights at Indeed.com, Kevin Walker works directly with employers to deliver actionable insights through recruitment data analysis, best practice sharing, and industry trend exploration.
Prior to joining Indeed, Kevin spent time in the hospitality and technology industries. He holds a Bachelors Degree from the University of Washington and a Masters of Business Administration from Booth School of Business at The University of Chicago.