DirectEmployers Association says the Internet is now the primary hiring source for employers. The study of hiring practices at leading US companies revealed that Internet sources produced 51% of all hires in 2005 with the largest source of hires being the employers’ own corporate web sites, while newspaper classified advertisements were the source of only 5% of the new hires. According to the study, individual percentages of new hires for each Internet source are:
- Corporate Employment Web Sites: 21%
- General Job Boards: 15%
- Niche Job Boards: 6%
- Social Network Web Sites: 5%
- Commercial Resume Databases: 4%
Employers reported that they find the highest quality candidates and receive the highest return on their investment from their own corporate web sites and from employee referrals. Financially, while General Job Boards represent the highest recruitment spending category for corporations, capturing 27% of the recruiting advertising budget, employers in this study reported that such Boards generated only 15% of new hires in 2005. In addition, as the economy heats up in 2006, employers report they will significantly increase employment related spending in the following key areas: Corporate Employment Web Sites: 74%; Employee Referrals: 68%; and Social Networking Technology: 60%.