SilkRoad, a leading global provider of cloud-based talent management software recently conducted a study of over 700 of its customers in how they hired new employees in 2011. 

The participating companies ranged in size from as few as 100 employees to much larger companies, including:

• 10 of the Fortune 500
• 50 of the Fortune 1000

Combined, the data gave insight into:

♦ 222,308 job postings
♦ 9.3 million applications
♦ 147,440 interviews
♦ 94,155 hires

An overview of the study can be found at Silk Road's Website.

When you take a look at this data, the information is stunning.

Perhaps the most revealing item of information is that there were 222,308 job postings yet only 94,155 new hires. What that tells me is that only 42% (94,155/222,308) of all job postings actually resulted in someone getting hired. In other words, of every 10 job postings online, does that mean only 4 are for real opportunities? That is how I view the data.

The Bureau of Labor Statistics has quoted over the years that over 70% of all jobs are found through networking. Yet, many people are failing in the job search because they are spending 80% of their time searching for jobs online.

If you just lost your job, avoid any temptation to tell people outside of your family that you lost your job for at least one week. Obviously, it is okay to tell your spouse and immediate family. But, resist the temptation to tell anyone else just yet. There is a very important reason for this. It is human nature for people to want to help you in your time of need.

When you tell people you lost your job, they will want to help you as quickly as possible.

According to most studies more than 80% of all new jobs are found through networking. Hiring managers prefer to hire people who they know or come referred to them. It is typically only when there are no known "best candidates" that a position will then be posted online for the world to see. 

There are a couple of great networking events coming up in Chicago that could provide jobseekers with a wealth of opportunities to meet key people that can help drive job opportunities.