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Oakland, CA – November 17, 2011 - Bersin & Associates, the premier research
and consulting firm empowering Human Resource (HR) organizations to drive
bottom-line impact, today announced its first-ever “Talent Acquisition
Factbook®” a study that shows U.S. spending on talent acquisition rose 6
percent to about $124 billion in 2011 compared with 2010, with more of that spending
focused on professional networks, social media and CRM technology at the
expense of job boards and agencies. This new Factbook is part of Bersin &
Associates’ series of Factbooks that let HR, learning, and recruiting
organizations benchmark their spending, resource allocation, and program design
to improve performance and efficiency.
The study, Talent
Acquisition Factbook® 2011: Benchmarks and Trends of Spending, Staffing, and
Key Talent Metrics, contains responses from more than 400
organizations, and was conducted via qualitative interviews and online surveys
of the Bersin & Associates database and the LinkedIn network. It shows that
while the volume of applicants for jobs is high, companies are still struggling
to find quality candidates. The research also found that due in part to the
costs and the difficulty of finding qualified candidates, companies with more
advanced talent acquisition practices are fostering internal mobility programs
to fill positions with existing employees.
“We estimate that U.S.
companies are spending an average of $3,500 for every new hire brought into the
organization – about three times the amount spent on training per employee,” said
Josh Bersin,chief executive officer and president, Bersin & Associates. “This large expense is
primarily going to agencies and job boards today, but companies increasingly
are turning to professional and social networks for their recruiting needs. Our
research shows that talent markets are out of balance: even with the high unemployment rates in the
U.S., companies must invest heavily in recruiting to find the ‘right
candidate,’ leading to a greater-than-ever focus on social networks as a major
The study found that today, 10 percent of open positions are
filled using professional networking sites. This percentage is expected to rise
rapidly as recruiters and job seekers become more adept at using these sites.
In addition, the study found that:
For example, CH2M Hill, a full-service engineering and
construction firm, diverted more than 50 percent of its recruitment advertising
budget from job boards to professional networks such as LinkedIn and Viadeo, as
well as to general social media tools including Twitter, Facebook and blogs, in
order to get higher-quality candidates.
Bersin & Associates’ research found that increasingly,
companies also are finding qualified candidates within their own ranks. For
example, a global financial services provider is staging its first-ever internal
career fair in London. The one-day,
employee-only event aims to make employees keenly aware of opportunities
outside of their individual departments, while keeping them within the
“Our research found that about at least one in every five
open job requisitions is filled by an internal candidate,” said Karen
O’Leonard, principal analyst, Bersin & Associates and author of Talent Acquisition Factbook® 2011. “The
figure for internal moves likely is even higher because some positions may be
filled with internal employees without a requisition going to the recruiting
department. Such efforts aid in filling vacancies, bolster employee engagement
and trigger an influx of fresh ideas into new areas of the business.”
To download a complimentary copy of the Executive Summary of
Talent Acquisition Factbook® 2011:
Benchmarks and Trends of Spending, Staffing, and Key Talent Metrics go to
full report is available today: $995 for a PDF and $1,045 for a print copy. For more details, go to: Talent
Acquisition Factbook® 2011
Register to join Karen
O'Leonard, Principal Analyst and Kim Lamoureux, VP of Research for their online
webinar at 2:00 p.m. ET/19:00 GMT on December 8, 2011, Talent
Acquisition: Spending Too Much and Getting Too Little?
Those interested in learning more about Bersin &
Associates and its WhatWorks® membership may email firstname.lastname@example.org or call (510) 251-4400.
For media queries, email email@example.com
or call (510) 251-4406.
About Bersin &
Bersin & Associates empowers HR and learning
organizations to drive bottom-line impact through world-class research and
consulting. The company's WhatWorks® membership gives human resources,
learning, and talent acquisition professionals the information and tools they
need to drive change in their organizations as strategic business partners.
Bersin & Associates members use our insights and tools
to benchmark themselves against best practices, design and implement programs
across the HR and learning spectrum and select and implement systems. A
piece of Bersin & Associates research is downloaded every other minute
during the business day. More than 5,000 organizations worldwide, including
more than 60 percent of the Fortune 100, use Bersin & Associates research
and consulting to guide their learning, talent, and human resources strategies.