Sourcing – The Secret Power of Recruiting
Sourcing – The Secret Power of Recruiting
Effective recruitment has gained popularity among companies that have struggled in the past to bring the best candidate aboard quickly. This is where sourcing specialists can be saviors. Sourcing – the process of identifying qualified candidates for a job – is the first step in recruiting. It sounds simple, but it’s definitely not a cakewalk!
Here are some challenges faced by recruiting and talent acquisition teams:
Attracting the Right Talent (Sourcing)
- Identifying the right candidate from a pool of talent can be tricky. We need to reach out to prospective candidates who are the right fit AND (the big one) are available for new opportunities, not just candidates who have applied and often are not qualified.
- According to research, 42% of the resumes received by hiring managers are from candidates who don’t fit the job requirements. Candidates are often unaware of the job specifications even after applying. Meanwhile, 86% of the candidates that are qualified, already have a job and are not actively seeking a new job.
- Moreover, 70% of the global workforce are passive candidates, meaning that when you post a job, you only tap into 30% of the workforce.
- Another LinkedIn report states that 90% of global professionals are open to new opportunities, even if they aren’t actively looking for work.
Slow Hiring Process
- Qualified candidates are contacted by recruiters regularly and when the hiring process takes too long, the best candidates find jobs elsewhere.
- Most strong candidates have multiple offers to consider before they make their final decisions. A slower hiring process acts in favor of the other offers the candidate holds, leaving you out of luck.
A correct approach to identifying the right candidate can help resolve the above challenges. Sourcing is the key. Numerous sourcing tools and assessment methods can help us zero down on the best fits by carefully analyzing the candidate profiles. But understand that there is no shortcut to getting the best candidates. You must invest time in the sourcing process.
Globally famous “Sourcing Guru” Shally Steckerl changed how the world perceived “Sourcing as a Service.” In a blog about his sourcing story, he mentioned that sourcing has evolved from an arcane skillset to a widely adopted and mature specialization employing almost half a million people worldwide.
The Power of Sourcing
I have worked with iPlace for over a decade, starting as an associate sourcer and moving up to heading sourcing delivery operations for global clients. I can share first-hand the benefits our clients experienced from working with a team of sourcing specialists, some of which are:
- Faster Hiring Cycle
Hiring the right candidate faster provides a huge strategic advantage over your competitors. Additionally, it helps streamline knowledge transfer and other handover processes.
- Improved Quality of Hire
A sourcer conducts a primary audit to verify prospective candidates’ experience and skills. In turn, the recruiter and the hiring manager get a ready list of candidates who fit the role.
- Broader Reach
No matter the position, location, or geography; sourcing offers an aggressive and proactive approach to hiring candidates using technology. Candidates are sourced from a wide variety of resources, which helps the recruiting team reach a larger pool of candidates.
Intrigued? Well, let me share how our sourcing specialists have helped iPlace clients over the last 16+ years find perfect fits for their jobs faster and at a lower cost per hire.
iPlace has over 900 sourcers and recruiters specializing in different technologies, industries, and geographies. iPlace sourcers work as assistants to our clients’ recruiting teams. They are experts in active and passive sourcing and identify candidates from various resources, using the latest tools to increase efficiency and output. We also use DaXtra, an aggregator that enables our sourcers to simultaneously capture candidates from numerous job boards and iPlace’s resume database.
If you are interested in learning more about iPlace’s sourcing services or want to hear our success stories, reach out to me and I’ll be happy to share.
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