Had the pleasure of taking in the ERE Social Recruiting Summit in Seattle this week, and one of the highlights for me was the presentation by Mike Vangel from TMP Worldwide on the ROI of Social Recruiting.
Here's the rundown of the social campaign that Mike outlined for us:
-Fortune 100 company
-Created social recruiting strategies from scratch in 2009 on Twitter and Facebook
Now, the Fortune 100 company in question has a big brand that people respect. That's why the stats shared are so important and should make you think about social recruiting.
Here are the stats of where they ended up from an ROI perspective at the end of 2009 related to jobs traffic and the resulting candidate flow:
-1,500 clicks on jobs posted
-40 completed applications
-Cost per hire: $1,071
-3,000 clicks on jobs posted
-50 completed applications
-Cost per hire: $625
So what do you think? First, let's acknowledge that we only know about 10% of the details necessary to judge whether the campaign was successful or not.
Now, let's judge.
It's a Fortune 100 with a big brand and thousands, if not tens of thousands of open jobs. I'm disappointed in the overall volume of the candidate flow. With that in mind, it seems like 19 hires is a very small number for what they have to offer.
BUT: I'd take the cost per hire any day. That's not bad, especially since it likely includes some ramp up costs on the development of the Twitter and Facebook strategy...
AND: One thing that was shared by Mike is that the company in question really didn't have an open philosophy in terms of developing content to really drive traffic and interest in the social media properties.
-Disappointed in the candidate flow and quantity of resulting hires.
-The Fortune 100 needs to sexy up the content to drive more traffic and hires.
-We don't know the influence that the company's social media presence had on other sources of hire - of course, some of the people found opportunities through Twitter and Facebook and then classified themselves as something else later in the process. One of the hard things about ROI in social media.
So what do you think about these numbers? It's one of the rare examples of ROI related to direct hires from a social media campaign. Is it good, bad or somewhere in between?