While 72 percent of companies use social technologies in some way, according to the McKinsey Global Institute, very few are anywhere near to achieving the full potential benefit. And few areas have such an immediate benefit as social sourcing—using social media and existing social networks for seeking and referring quality job candidates (see our report “Best Practices in Social Sourcing: Recruiting Talent in the 21st Century” for more information.)
As job board use shrinks, in part because of costs and the failure to provide quality candidates, recruiters are focusing on social sources, using tools such as LinkedIn Recruiter or Jobvite’s social referral solution. But while candidates can now use the “Apply with LinkedIn” button on many applications, often that social bridge to the applicant tracking system has been less than integrated.
SelectMinds, however, has been integrated with the Taleo ATS solutions – now Oracle Cloud Recruiting —for some time. With this acquisition, Oracle seals the marriage, formalizing the permanence of the relationship and adding an established social sourcing tool with support for referrals and mobile recruiting to its rapidly-growing Cloud stronghold. (SelectMinds also includes the ability to automatically optimize job postings for mobile web browsing, an important feature in the light of increased smartphone use by job candidates for both looking for opportunities and for applying directly from their phones.)
We all know that referrals make the best hires: your own employees will only refer friends to positions where they think they will fit and be happy. And good people know other good people (who know more good people...) [This does put an onus on businesses to ensure that they are good places to work or their employees will not recommend anyone!]
Drawing on past employees is also an often-missed opportunity, whether retirees or "alumni" who have gone on to other organizations. The social contacts with these individuals can continue to keep them positively engaged even though they are no longer active employees. Many companies today have vibrant alumni organizations -- rather like universities-- to maintain connections with previous talent. And those alums are often sources of great referrals.
For SelectMinds users, the key advantages to recruiters include the ability to reach passive and active candidates, to manage and attain employee referrals, and to better retain contact with corporate alumni, incorporating their support in recruiting efforts.
According to Oracle, the SelectMinds solution is already integrated with Oracle Cloud Recruiting, Performance Management and Human Capital Management. This acquisition, following its recent significant forays into cloud HCM, puts Oracle right where it wants to be with social integration in human capital management—in the catbird’s seat.