What is the greatest source of external hiring according to CareerXroads 2009 study? If you understand the answer, you'll also understand why networking is so important.
26.7% of external hiring came from referrals!
To me, this speaks volumes about how job seekers should be spending their time. Creating a target list of companies and networking will allow you to better find the opportunities you are searching for!
This is also a good time to remind you that many employers offer "Employee Referral Bonus'". That's right, in many companies, they will pay bonus' to an employee who refers a candidate who is hired. This bonus is generally paid out in two parts- the first payment occurs shortly after the referred candidate is hired, the second payment occurs after the candidate has been with the company for several months.
This is a great incentive for employees to refer past coworkers or people they know for job openings. And this isn't new, it has been around for awhile.
CareerXroads does point out some other interesting points about this reward system:
Have you ever received a referral bonus for recommending someone for a job? Would you do it again?
Thank you to Deborah Cox for reminding me of this important topic!