How Sourcing Tools Are Revolutionizing The Hiring Process for Small Businesses

The advent of 21st century brought along technology and there has been no looking back since. Technology has been revolutionizing each and every aspect of human lives and will continue to do so in the near future.

One such aspect falls in the recruitment sector, where hiring managers are taking advantage of technologically advanced sourcing tools and making the entire talent sourcing process easier and faster. Sourcing tools in recruitment have created a boom in the market and every employer is now eager to lay their hands on one.

The obvious question here is – how are sourcing tools revolutionzing the hiring process for small businesses? How are sourcing tools taking the recruitment process to another level?

We are here to give answers to such questions and paint a clear picture of the advantages of sourcing tools in recruitment.

What did the Hiring Process look like before the Emergence of Sourcing Tools?

Prior to the inception of sourcing tools, the hiring process was very much manual and relied heavily on traditional recruitment methods.

Employers would typically advertise job openings in local newspapers, on job boards, or through word of mouth. This meant that the pool of potential candidates was often limited to those in the local area or who were connected to the employer's personal network.

Once applications were received, they were reviewed manually by HR personnel or hiring managers to identify potential candidates. This could be a time-consuming process, as it involved reviewing resumes, cover letters, and other application materials. It also meant that there was a risk of bias or subjective decision-making, as each reviewer may have different criteria for what makes a strong candidate.

After reviewing applications, potential candidates would be invited for an in-person or phone interview. This was often the first opportunity for the employer to get to know the candidate and evaluate their fit for the position. If the candidate was deemed suitable for the position, they would be invited for further in-person interviews, which could involve meeting with multiple members of the organization and potentially taking skills-based tests.

This was about old traditional hiring methods, but then came the Internet. And the recruiters went from offline hiring methods to online. This included posting jobs on online job boards, finding candidates on social media and interviewing them online.

But the biggest bottleneck was the large number of applicants and the mountainous task of screening them. While online job boards and social media made the recruitment process more efficient and convenient, it also introduced new challenges which led to a more automated and use-of-technology approach towards hiring.

Where was the Hiring Process Falling Short?

The traditional hiring methods had a large set of drawbacks. For example, job postings were typically limited to newspapers, industry publications, or job fairs, which meant that job openings had limited exposure and could only reach a limited number of potential candidates. Recruiters also had to rely heavily on referrals from existing employees, which often led to a lack of diversity in the candidate pool.

Moreover, the traditional hiring process was time-consuming and expensive. Recruiters had to manually review resumes and applications, schedule and conduct interviews, and perform background checks, which took a lot of time and resources. This made it challenging to fill job openings quickly and efficiently.

With the shift to online hiring methods, problems such as limited reach to candidates, lack of diversity and the expensive cost of recruitment process got solved, however, Internet brought with itself another set of shortcomings that left the recruiters hanging out to dry and looking for more efficient methods.

How Are Sourcing Tools Becoming Every Recruiter’s Favorite?

We are living in a world where a quick Google search is enough to show an earthquake in turkey or finding a long lost friend. If finding everything else is so easy, why should finding and sourcing candidates be such a big task?

With sourcing tools, finding candidates becomes as easy as a quick google search. Just put in your requirements and get a pool of truly qualified and relevant candidates at your fingertips.

To answer the question, sourcing tools are becoming every recruiter’s favourite because it automates redundant tasks and saves a ton of time and effort for them.

To elaborate, with sourcing tools, recruiters no longer have to spend hours searching through job boards, social media platforms, and LinkedIn profiles to find the perfect candidate. Sourcing tools are designed to simplify the strategy of identifying potential candidates by using advanced algorithms and data analytics. They help recruiters to filter out irrelevant candidates and identify the most suitable candidates based on the job requirements and company culture.

By automating the sourcing process, recruiters can focus on other critical aspects of recruitment, such as candidate engagement, assessment, and selection. Sourcing tools also enable recruiters to reach out to candidates more effectively by providing them with a detailed profile of the candidate, including their skills, work experience, and education background.

Read: Talent Sourcing Trends to Follow in 2023

Why are Sourcing Tools a Game Changer for Small Businesses?

Small businesses encompass a whopping 99.7% of companies in the United States. Thus, it becomes all the more important for them to optimize their recruitment efforts and focus on finding the right talent for their organization.

The hiring process is a critical aspect of any business, but for small businesses, it can be particularly challenging. With limited resources and a smaller team, finding the right candidates can be a time-consuming and expensive task. However, sourcing tools are revolutionizing the hiring process for small businesses by making it more efficient, cost-effective, and accessible.

One of the primary ways sourcing tools are helping small businesses is by automating the sourcing process. These tools use advanced algorithms and data analytics to search for potential candidates across various job boards, social media platforms, and professional networks. This eliminates the need for manual candidate sourcing, which can be time-consuming and prone to errors. With sourcing tools, small businesses can quickly and efficiently identify potential candidates that match their job requirements and company culture.

Another way sourcing tools are helping small businesses is by providing access to a wider pool of candidates. Traditional recruitment methods may be limited to local candidates, but sourcing tools can help small businesses reach candidates from all over the world. This expands the talent pool and increases the chances of finding the right candidate for the job. Additionally, sourcing tools can help small businesses to promote their job openings and attract candidates by leveraging social media and other digital platforms.

Sourcing tools also help small businesses to save time and resources. By automating the sourcing process, small businesses can focus on other critical aspects of the hiring process, such as interviewing and selecting the right candidates. This saves time and resources that can be used for other important business operations.

Read: Sourcing vs Recruiting

Case Study of HERE Technologies Using Sourcing Tools

According to the Head of Global Talent Acquisition at HERE, Gabor Talan, due to the year of “great resignation”, they were facing a difficulty in refilling their talent pipeline and at the same time, their Talent Acquisition team was not equipped with the right amount of people to battle and conquer this new situation that they found themselves in.

As a solution, they turned to sourcing tools to find a better way to deal with the problem. This enabled the business to engage more employees to work alongside the Talent Acquisition team and help source skilled professionals.

Read: The most common myths about sourcing diverse candidates

Tips on How to choose the right sourcing tool for your small business

When it comes to choosing the right sourcing tool for your small business, there are several factors to consider. These factors will depend on the specific needs of your business, budget, and personal preferences. Below are some of the key factors to consider when selecting a sourcing tool for your small business.

• Cost: The cost of the sourcing tool is an essential factor to consider. Some sourcing tools may require an upfront payment, while others may have a monthly or yearly subscription fee. It is essential to choose a tool that fits within your budget while also meeting your hiring needs.

• User-friendliness: A user-friendly sourcing tool is essential, especially for small businesses that may not have a dedicated HR department. The tool should be easy to navigate, with a clear interface that enables you to create job listings, search for candidates, and manage applications with ease.

• Features: The features of a sourcing tool will determine how effectively you can identify and manage candidates. It is essential to choose a tool that offers the features you need to streamline your hiring process. For instance, some sourcing tools may offer AI-powered candidate matching, while others may provide applicant tracking systems to manage candidate applications.

• Integration with other tools: A sourcing tool that can integrate with other HR tools can save you time and effort. For example, a sourcing tool that integrates with your company's applicant tracking system can allow you to manage all candidate applications in one place.

• Customer support: Customer support is crucial when using any technology tool, including sourcing tools. Look for a tool that offers reliable customer support, whether through phone, email, or chat, to help you troubleshoot any issues that may arise.

How HireQuotient can Help to Revolutionize the Hiring Process for Small Businesses?

HireQuotient is all set to launch the world’s first fully automated recruitment platform with an embedded ChatGPT that can revolutionize the hiring process for SMBs. EasySource is a magical talent sourcing tool that will iron out all the challenges that recruiters face while finding, engaging and hiring candidates.

Let me spill some beans on EasySource..

It is an easily downloadable chrome extension that works on your LinkedIn profile. Simply download the extension, open your LinkedIn profile and start searching for relevant candidates.

Talking about the features, our talent sourcing tool is designed with well-thought out filters that yields you candidates based on their skills, education, experience, geographic location and US work authorization. Not only that, we have also worked on the problem of mass outreach and created our tool in such a way that it allows you to send emails, LinkedIn Inmails and connection request, all in one click.

If you can’t wait to try out our tool, visit us and we will give you hands on experience to our amazing talent sourcing tool.