The Jobvite Index aggregates social recruiting data drawn from Jobvite customers. Social recruiting applications are used by over 600 companies, such as Whole Foods Market, Starbucks Coffee Company, Zappos.com, Inc., Yelp and Etsy. This edition of the Jobvite Index focuses on Employee Referrals and includes data from 2007 to present.
Recruiters use a variety of sources to capture applications, such as career sites, job boards, agencies, and employee referrals. The top sources of applicants for Jobvite customers are job boards (42.9%) and career sites (32.1%). However, when we look at the top source of hire, we get a different picture. Employee referral programs generate 39.9% of all hires. This is nearly double the SHRM reported average.
Applications by Source Type
Hires by Source Type chart
What's more, employee's hired through employee referral are hired 55% faster than those who came through a career site.
Application to Hire Time in Days
Not only does it take a shorter length of time to hire a qualified candidate via employee referral, those hired stay longer. 46% of employee referrals stay for three years or more while only 14% of those hired from job boards stayed.
Average Length of Employment