Written by Kimberley Startup | March 26, 2013
Looking to use LinkedIn as part of your finance recruitment strategy, but unsure where to start?
Social media has become the word on everyone’s lips when it comes to recruitment. But without understanding who you’re targeting and why they’re using a particular platform, it can easily become a tedious and time consuming task.
webrecruit’s latest survey explored candidates’ use of social media when it comes to finance recruitment. Over 200 banking & finance professionals completed the survey providing us with valuable insights on where and how they look for jobs using social media.
So to help you with your finance recruitment strategy, we’ve decided to summarise the results to help you get the most out of social media, and in particular, LinkedIn.
Where do you most commonly look for finance-related vacancies?
Whilst generic job boards, such as Monster, TotalJobs and Reed are still a firm favourite when it comes to looking for new opportunities, the use of social media is undeniably on the rise.
49% of respondents said they now use LinkedIn as part of their finance job hunting strategy – above and beyond just 37% of candidates who use industry specific job boards like GAAPweb. 10% of respondents said they use other social media sites such as Facebook and Twitter.
What do you find LinkedIn most beneficial for?
45% of survey respondents said when using social media for finance recruitment, they find LinkedIn most useful for building their network and engaging with other finance professionals. This was closely followed by 42% of respondents who said they find it most beneficial for identifying new opportunities.
Just 9% of respondents use the professional networking site to learn about other companies, and 4% use it to engage in discussions and polls that are relevant to their industry.
How much time do you spend using LinkedIn per week?
According to the survey results, 40% of finance job seekers spend, on average, up to an hour using LinkedIn to benefit their professional life. This was closely followed by 35% who spend 1 – 3 hours per week using the platform.
These results demonstrate the increasing importance of LinkedIn as part of today’s job hunting process with 25% of respondents spending anywhere from 3 hours to 10+ hours per week leveraging the sites professional value.
Are you a member of any finance-related groups on LinkedIn? If yes, how many?
LinkedIn’s groups have become an invaluable way for job seekers and employers alike to engage with like-minded professionals and promote themselves as thought leaders.
However, it would seem that job seekers are still unaware of the professional benefits of being a member of such groups with responses being quite closely split between yes and no.
Furthermore, those that did answer yes, the majority of respondents (84%) were only in 0-10 groups compared to just 2% of respondents who were making the most of this feature and had joined 41 – 50 groups.
If you find a role you’re interested in, which of the following are you most likely to do first using LinkedIn?
From joining groups and connecting with professionals to sharing content and following companies, there is a multitude of things you can do on LinkedIn that will benefit your professional career. But what do you do first?
When asked which of the following are you most likely to do first on LinkedIn if you find a role you’re interested in, 45% of respondents said they would follow the company page.
33% said they would request to connect with the hiring manager, and 22% would join their careers group.
Therefore, as an employer, it’s definitely worth ensuring that your company profile is complete and up-to-date since the majority of respondents would head there first if they want to work for your company.
Understanding where and how finance and accountancy job seekers search for opportunities is of paramount importance if you want to improve your finance recruitment strategy.
Not only can you improve your hiring process, but you will also know what platforms are best when it comes to advertising and sharing your vacancies.
If you’re looking for more information about finance recruitment, you might find our free finance & accounting salary checker of use. You can access it by clicking on the button below.