Even before the downturn in the economy, the bloom was off the rose for the major job boards. A 2008 Source of Hire (SOH) study recently published by CareerXroads (www.careerxroads.com) shows this as well as some other trends that we believe will help make our referral-based model a success.
According to the study, 27.3% of hires come from referrals representing the biggest source of external hires. 12.3% of hires are from job boards with Monster and CareerBuilder representing about half of this. However, CareerBuilder and Monster are losing ground to the “long tail” of niche site and social networking.
Also interesting to us here at ChumBonus was the insight into survey respondent’s plans for 2009 which included increasing the use of referrals and decreasing the use of agency and print media. One respondent said they wanted to “Develop new avenues that strengthen referrals from employees, alumni and more.” Man, have we got an offering for them.
Launch of the ChumBonus Beta is March 26th .
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