Social media is changing the way people find jobs, but according to the latest Emerging Workforce Study by Spherion, most companies are out of step. In fact, less than one-fourth have a formal social media strategy in place, and of those, only one-third say they've had success.
Assumption #1: Attracting talent is most successful through traditional means
According to the study, only 4% of HR executives use social networking to recruit. For many, attracting workers remains a sterile, one-size-fits-all approach, regardless of an onslaught of social media that now offers boundless opportunities to target specific candidate groups and tap into markets which might otherwise have been inaccessible.
Assumption #2: Providing a paycheck alone ensures an engaged workforce
The Emerging Workforce Study found that for 75% of workers, their job means more than just a way to earn a living. A full 88% want to think of new and creative ways to do things, with most workers naming growth potential as the top reason to stay beyond pay and benefits. One of the most effective venues to engage workers is social media, yet of the 44% of businesses using it, only 20% use it to motivate existing employees.
Assumption #3: Social media has little to do with retaining workers
Less than 20% of companies leverage social media to retain employees, according to the study. This is not surprising, when only 23% of HR executives said they are concerned about retention. However, utilizing social media to reinforce a company’s commitment to its mission can deliver tremendous dividends in employee loyalty.
The study found that workers who feel their employer has a clear corporate mission—and follows through on it—are nearly 2x as likely to stick around, compared to those who work for companies without a clear mission.