2018 Fortune 500 Recruitment Marketing Benchmark Research from SmashFly Reinforces Correlation Between Talent Practices and Positive Business Outcomes
CONCORD, Mass. – February 7, 2018 – SmashFly Technologies, the leading enterprise Recruitment Marketing platform provider, today announced the findings of its third annual Fortune 500 Recruitment Marketing Benchmark Research report. This primary research analyzed 20,000+ data points from 37 criteria across 500 companies in 23 sectors, as well as key external business factors. The findings are compelling; drawing a tight correlation between the adoption of talent acquisition and recruitment marketing best practices and positive business outcomes.
“The depth of research in this study is a first in the industry,” said Mike Hennessy, CEO and founder of SmashFly. “By combining three years of recruitment marketing trends with business performance data, this report illustrates the firm connection between recruitment marketing best practices and the business success of companies that employ them.”
Among the key findings, SmashFly’s research uncovered:
· Companies that have adopted recruitment marketing (“A” scores) demonstrate 62 percent higher average revenue per year than “B” scores and 152 percent higher average revenue per year than “F” scores
· Recruitment marketing adoption and higher Glassdoor ratings and recommendations correlate: A and B scores see more reviews and stronger ratings than C, D and F scores
· There is a huge opportunity to adopt artificial intelligence ahead of the pack; only one percent of the Fortune 500 have implemented chatbot technologies on their career sites
· Fifty-three percent of Fortune 500 companies lack dedicated careers Twitter handles or Facebook pages
· Seventy-six percent of “A” ranked companies have talent networks or talent communities. In sharp contrast, only five percent of companies scoring “D” or “F” have or nurture such talent pipelines.
According to the research, while more Fortune 500 companies are using talent-centric marketing strategies, this trend accounts for less than half of the Fortune 500 (46 percent.) Among the Fortune 500, there are 66 market leaders across the industrial, telecommunications, aerospace/defense, healthcare and technology sectors that earned “A” scores for adopting recruitment marketing strategies to reach, influence and nurture qualified talent. For the second consecutive year, Santa Clara, Calif.-based Intel Corporation was the top ranked organization. Rounding out the top ten were CH2M HILL, General Electric, Thermo Fisher Scientific, Booz Allen Hamilton Holding Corp., AT&T, Aramark, Charter Communications, Inc., Travelers Cos. Inc. and CDW Corp.
“I think what this report shows, more than anything else, is that thinking differently and being brave enough to embrace change can pay huge dividends for a business and a brand,” said Shaunda Zilich, Global Employment Brand Leader at GE. “The best talent — the right talent — can read through a generic brand and marketing. But when you live your values — and your recruitment marketing reflects that — candidates respond. We’re seeing the impact of that at GE and I’m sure other top performers in this report would say the same.”
“In SmashFly’s third year of research, it was crucial to examine not only recruitment marketing practice adoption across the Fortune 500, but also the pace of adoption and how it correlates to overall business success. We know the hype and publicity around transforming talent acquisition doesn’t drive change – a stronger business case, from the top-down, does,” said Elyse Mayer, SmashFly’s lead researcher for the report. “Our intent is to provide practitioners with the benchmarks and insight that support a strong case for urgent change in recruiting. Based on our findings, it’s clear that leaders in recruitment marketing see heightened success in other key business areas like employer brand, candidate experience and revenue.”
Madeline Laurano, Chief Research Officer at Aptitude Research, observed, “Companies that invest in recruitment marketing outperform their peers. This research conducted by SmashFly reinforces the fact that companies with a system to attract and engage talent early in the process not only improve overall efficiency but key business metrics.”
Click here to DOWNLOAD the complete report.
About SmashFly Technologies
SmashFly’s Enterprise Recruitment Marketing Platform helps companies hire people who fit by delivering everything talent acquisition teams need to market their employer brand across all channels, develop and nurture targeted pipelines through intelligent automation and generate rich behavioral insight to optimize experiences and investments in real-time. To learn more about how SmashFly can help your business, visit www.smashfly.com and follow us on Twitter @SmashFly.