'Personal Referral' Still a Top Reason to Contact a Candidate

LOS ANGELES April 13, 2016 - An executive survey released today by the Korn Ferry division of Korn Ferry (NYSE:KFY), the preeminent global people and organizational advisory firm, reveals the key skills and attributes business executives are seeking when recruiting college graduates.

When asked what is the top attribute they look for, the largest percentage of respondents (43 percent) listed learning agility, defined as “the ability to learn from experiences and apply those learnings to new roles.” Unfortunately, learning agility virtually tied (30 percent) with business acumen (31 percent) as the largest skills gap among college recruits.

“The pace of today’s global, always connected business environment is frenetic,” said Vivienne Dykstra, Korn Ferry Business Development Director EMEA and global SME for the Graduate Practice. “Organizations need employees who can keep up, change and innovate as circumstances evolve. The best hiring and development initiatives have a focus on learning agility.”

When asked what is the most pressing diversity goal for college recruiting efforts, the vast majority of respondents (71 percent) said “diversity of thought.”

“Diversity of thought is a key goal of all diversity initiatives and is most effectively achieved by recruiting people who have a wide range of backgrounds and experiences,” said Dykstra.

When considering other specific diversity priorities, respondents ranked, in order: gender, ethnicity, veteran status and sexual orientation.

The study also found the majority of college recruiting programs are designed with an eye to the future, as 63 percent of respondents say the programs are focused on developing the next generation of leaders. Eighteen percent of respondents said their programs were designed to build business/corporate/sales capabilities, and 14 percent said they were focused on filling immediate operational requirements.

In other findings, as the colloquial saying goes, “it’s not what you know, but who you know.” Twenty-six percent of executives stated that a personal referral provides the most incentive to make initial contact with a candidate. That was exceeded only by “previous examples of leadership and problem solving,” which accounted for 34 percent of responses.

Finally, the survey found that after deciding that a college candidate is not the right fit for a prospective position, less than a third of respondents (29 percent) say their company has a “keep warm” strategy for future opportunities, and less than one quarter (22 percent) add recruits to their long-term applicant tracking system.

“Not keeping track of applicants is a huge missed opportunity,” said Dykstra. “A college grad may not yet be ready for a particular role, but keeping an ongoing dialogue open for when the ideal position is available will ensure that a candidate will choose your organization over a competitor.”

About the survey

There were 1,753 responses to the global survey, which took place from March 7 through March 29, 2016. Full results* are as follows:

What is the top attribute you look for when hiring a college student?

• Grades  0%
• Learning agility 43%
• Previous Experience  1%
• Drive / Passion  27%
• Fit with our culture  17%
• Motivation  12%

What are the key skill gaps in college recruits?

• Leadership  16%
• Learning agility  30%
• Communication  11%
• Drive and motivation  10%
• Technical skills  3%
• Business acumen  31%

What are you doing to engage college candidates?

• On-campus information sessions  25%
• In-person networking / social events  39%
• Online / Social events  3%
• Online talent communities  7%
• Social media (LinkedIn, Twitter)  25%
• Host conferences  1%

What is the most pressing diversity goal for your college recruiting efforts?

• Diversity of thought  71%
• Gender  12%
• Ethnicity  11%
• Sexual Orientation  2%
• Veteran/ Disability status  5%

What do you assess your college candidates for?

• Cognitive ability (Numerical, Verbal, Abstract reasoning)  22%
• Technical Capability  8%
• Leadership potential  36%
• Cultural fit  24%

My organization’s college hiring program is designed to …

• Support our immediate operational requirements  14%
• Develop our next generation leaders  63%
• Bring in new technical capabilities  5%
• Build our business/corporate/sales capabilities  18%

What is the best method of initial interviewing/vetting candidates when it coes to college recruiting?

• Video interviewing  20%
• On-campus group interview  47%
• E-mail  2%
• Phone  12%
• Networking / Social events  16%
• Conferences  3%

What would most incentivize you to make initial contact with a candidate when college recruiting?

• A referral from someone you know  26%
• Their persistence / enthusiasm  21%
• Video resume  0%
• Online (e.g. LinkedIn) CV / resume  6%
• Social media activity  1%
• Previous work experience at the organization  13%
• Examples that highlight leadership, drive for excellence  34%

What happens when you decide a college candidate is not a right fit for the role for which you are recruiting?

• We send an email thanking for their interest  11%
• We encourage them to apply for future opportunities with us  34%
• We invite them to continue to interact with our brand via social media  4%
• We create a “keep warm” strategy for future opportunities  29%
• We add them to our longer-term applicant tracking system  22%

What is the top reason to stay in contact with college candidates … even those who were not the right fit for a particular role?

• To protect our employer brand  1%
• For future opportunities where they may be a good candidate  75%
• For the possibility that years down the road they may become a good client  16%
• So that they refer their friends to apply to our company  8%

Editor’s Note:

Korn Ferry will host a webinar to explore identifying and developing early talent. Join us on Wednesday 20th April.

About Korn Ferry

Korn Ferry is the preeminent global people and organizational advisory firm. We help leaders, organizations and societies succeed by releasing the full power and potential of people. Our nearly 7,000 colleagues deliver services through Korn Ferry and our Korn Ferry and Korn Ferry divisions. Visit kornferry.com for more information.

More information on Korn Ferry can be found at www.Korn Ferry.com.

For media enquiries please contact:

Tracy Kurschner
Tracy.kurschner@kornferry.com
612.309.3957

*Due to rounding, some totals may not equal 100