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Talent Sourcing Strategy

How to build a talent-sourcing strategy to hire the right candidates?

Published on February 1st, 2023

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Recruiting talented individuals is essential for your organization's future success. To sustain a competitive edge, you must hire only the most skilled individuals and use the best recruitment tactics to reach your goals. As a result, using new talent-sourcing strategies in recruitment becomes essential.

A good talent sourcing strategy allows HR professionals to identify qualified individuals who can help their organization prosper in the long run. A well-planned strategy can result in more efficient hiring procedures, improved employee retention, and positive candidate engagement experiences. If you are a hiring professional or work in the recruitment sector, understanding the importance of talent-sourcing strategies and effectively utilizing them can help make your hiring process smoother and more productive for your firm.

In this article, we will explore the significance of talent-sourcing techniques, and a number of strategies you can incorporate into your recruitment process to help your business function more seamlessly.

But first, let's take a step back and start from the beginning.

What is talent or candidate sourcing?

Talent sourcing, also known as candidate sourcing, is the process of identifying, evaluating, and communicating with prospective employees to generate qualified job applicants for a specific job opening. During this process, your team will communicate with prospective applicants, who will be added to your talent pipeline to fill any current or future vacancies. The idea is to create a consistent talent pipeline that runs year-round so that the company is well-prepared for any unexpected job vacancy that might show up.

Why is talent sourcing important?

Here are some of the reasons why talent is the most crucial aspect of the whole recruitment process:

  • Creates a talent pipeline: Creating a pipeline of applicants is the most reliable strategy for managing your company's talent needs. Sourcing allows you to reach out to possible candidates well before the vacancy occurs.
  • Saves time for the recruiters: As you already have a pipeline of skilled candidates ready to fill roles as they become available, talent sourcing saves both time and money. Talent sourcers identify a large talent pool, hence, open positions are filled promptly. This shortens the recruiting cycle and reduces the workload of recruiters.
  • Improves hiring quality: During the active search for qualified and suitable applicants, you gain a better understanding of the type of person that this specific role may require. This helps improve the recruiting of higher-quality candidates.
  • Contributes to the growth of the employer's or corporate brand: Talent sourcing helps to grow the employers or corporate brand. In the recruitment process, having a strong employer brand is important. When your company shows interest in candidates, keep them informed about future vacancies and provide a positive candidate experience. This way, the company becomes more known and trustworthy in the eyes of the candidates.
  • Helps expand your reach: A candidate Management system can help you reach potential candidates that traditional job posts on job boards or in print media would never be able to reach. Sourcing takes a proactive strategy to recruit candidates through technology, regardless of location, position, or geography.

13 TOP TALENT SOURCING STRATEGIES TO HIRE THE RIGHT CANDIDATE

Let's look at the various strategies that recruiters, talent sourcers, and HR professionals leverage to find high-quality individuals for their organizations.

1. Maintain a communication bridge between the recruiters and the hiring managers:

Communication between recruiters and hiring managers is essential at all stages of the recruitment process, but it is especially critical during the talent sourcing stage. When it comes to finding a strong candidate, the hiring manager and recruiters must operate on the same wavelength. Remain in dialogue with your hiring managers about the job criteria and specifications, and keep them up to date throughout the process, to ensure that no important information is overlooked and there is no room for miscommunication.

Mutual understanding will not only ensure that your team is looking for great, qualified candidates, but effective communication will also allow you to fine-tune your search criteria depending on the hiring manager's feedback.

2. Integrate sourcing software and AI into your hiring process:

When it comes to predicting effective recruitment, talent sourcing tools and AI-integrated software, such as the applicant tracking system (ATS) and candidate management system (CMS), which frequently employ and leverage algorithms, are starting to outperform recruiting managers in the field.

Furthermore, recruiting software can produce favorable hiring results through automated job advertising, scheduling, and screening options, as well as virtual interviews and pre-employment evaluations.

There are many recruitment tools available online, each tailored to an individual's needs and preferences; some are designed exclusively for start-ups and small businesses, while others are used by global corporations to handle bulk data and candidate management.

While most sourcing tools have a fee, there are plenty available online that are free to use.

Talent-sourcing software can give projected insights by filtering data from candidates from a range of sources, not just resumes or submitted applications, thereby saving time in the recruitment process and lowering the cost per hire.

3. Diversify and expand your sourcing channels:

Some recruiters use professional networks, while others might use popular platforms such as LinkedIn to find their candidate pool. The most frequent methods of candidate sourcing are popular for a reason: they seem to work.

However, consider bringing some less common sources into the mix and try to expand your reach. Candidates may be more open to outreach messages on less traditional websites, and profiles on such sites can provide unique information that can be utilized for a more tailored outreach.

4. Follow up on all your candidates from time to time:

Follow-up emails can be even more effective than your initial email strategy. Send news about your firm to prospects, congratulate them on professional accomplishments, inquire about the status of a significant project, and notify them about job openings that might be relevant to their professional background. Even if these check-ins do not yield immediate results, they will keep you at the top of the minds of the strongest candidates. You'll be the first person they think of when they're ready to look for a new job. And even if the candidate is not interested in your organization, they may be able to refer someone who is.

Polite persistence is a great way to keep applicants informed while staying on their radar.

5. Exploit social media platforms for sourcing:

Social media is one of the most popular tools for talent sourcing since it allows sourcers and recruiters to verify applicants more promptly. Despite being under the umbrella of the marketing department, social media can be an important instrument in showcasing a company’s brand and corporate social responsibility.

The use of social media is prominent in most organizations' recruiting sourcing techniques. LinkedIn, Facebook, Twitter, and Meetup are all good places to connect with any prospective candidates.

6. Don't overlook the value of offline recruitment methods:

There is no disputing that internet platforms improve your engagement. However, offline recruitment methods continue to be an important talent-sourcing strategy. Going offline and meeting people in person at events is a great way to uncover viable talent.

Attend job-related or industry-specific conferences and events or organize meetings to bring people you want to meet together. Your business will face less competition to stand out, and prospects will be more likely to respond to follow-up communications after engaging with you in person.

7. Make good use of job boards and platforms:

In addition to professional social networking sites, job boards and platforms are also effective tools for sourcing talent.

By allowing recruiters and candidates to search and filter through vacancies that match defined keywords and advanced filters, job boards can assist organizations in filling specialized roles in certain industries.

8. Emphasize internal hiring and evaluation:

Many hiring managers believe that one of the best places to identify suitable applicants is within their organization. You can allow the current employees to apply with their organization and have their performance assessed. You can also transfer or promote existing professionals.

Furthermore, recognizing internal talent can help you make better use of resources and also save time.

Many hiring managers prefer internal hiring of existing employees because they can adapt quickly to the workplace and job position.

9. Focus on building your talent pipeline:

Hiring managers gather and save data on all candidates who apply for available roles. The sourcing pipeline is a method of gathering information that allows hiring managers to find people with crucial attributes and qualifications. When a candidate applies for a certain post, put the candidate's information into the database and use it when needed.

Adding important information to the pipeline can help you connect with potential candidates for future openings.

10. Seek out job roles for the future:

The most effective talent sourcers are adept at locating talent for positions that are not presently available but could be required by the company in the near future. That demonstrates their commitment to their employee recruitment strategy.

Inquire about your employer's five-year business expansion plans.

Researching current job trends to see where the market is headed is one of the best practices for sourcing strategies.

It is critical to plan your approach by deciding when, where, and how many additional roles will be necessary.

You can start creating an ideal archetype for the roles you're attempting to fill once you've ascertained where you need to develop and reached an agreement with HR and Finance on the level and skill set required for the particular job position.

11. The candidate’s time is as valuable as yours:

Respect suitable applicants' time and become flexible with their schedules when communicating with them. When speaking with a candidate on the phone, first inquire about their availability. Consider specifying the amount of time you require so that you can explain all relevant details about the job opportunity. You can give them several communication options and times throughout the week. It can make candidates feel more valued and improve their perception of the organization.

12. Keep track of your metrics.

Hiring managers need to track their metrics after the recruiting phase.

You can review the hiring process to determine which strategy performed best. Evaluate the number of attempts at communication made to generate a response from applicants.

You can go over the message again and use it during the next hiring cycle. If it does not show a positive response, make changes to improve it. You can also find out which channels brought in the most applications and continue to hire through them.

13. The importance of employer branding:

Your corporate brand could mean the difference between a candidate responding to or ignoring your outreach.

Candidates are unlikely to respond to your outreach if they hold a negative perception of your employer brand, and an unfamiliar employer brand can also stymie your efforts.

A strong employer brand, on the other hand, is the most effective recruitment tool in your toolbox.

To wrap it up

Keep in mind that different firms, depending on their size, industry, or workforce requirements, need different talent-sourcing strategies. What your organization requires will be vastly different from what someone else desires.

However, talent can be found in many places, and no plan is ever perfect. Some businesses choose the ‘immediacy and quantity’ hiring approach of the internet, whilst others might choose a more direct, human, and loyalty-based strategy.

Whatever situation you are in or the strategy you adopt, embrace the potential around you and be mindful to not leave any stone unturned.

Now that you have utilized the hiring strategies to create your talent pool, it’s time to take the next important step and find top talent among your list of candidates.

HireQuotient could be the perfect tool for the job. HireQuotient provides a variety of pre-employment assessments and virtual interviews to assist your firm in better-evaluating candidates and finding skilled individuals

For more information, please visit our website.

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