Many HR managers are finding their new hires through social media, according to a new study by HiringSolved. The study also suggests that an applicant's social media profile is likely more up-to-date than his or her resume, as well, because only 25 percent of respondents update their resumes more than once a year, and 40 percent don't update it at all.

"In 2014, we expect more companies to ditch the traditional resume in favor of new, unconventional hiring methods that better reveal a candidate's true talents and long-term hire favorability," said Shon Burton of HiringSolved.

What to look for in a social media presence is also important. One study showed that posting about drug or alcohol use does not necessarily indicate that the applicant abuses those substances. One characteristic to avoid in a potential hire is if they post content that criticizes others, however, as this was found to correlate with those who ranked low in agreeableness.

Some companies are escaping the challenges of hiring and firing altogether through HR outsourcing services. Other ways to avoid a bad hire include using contract workers. If the present workers do not agree with the corporate culture, the process for getting new ones is simple.

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