Finding and attracting the top talent to work for your company has never been more competitive. The perfectly qualified professionals are hard to find and even harder to hire. According to the study conducted by LinkedIn, only 36% of people are active job seekers. Nevertheless, 90% of them are open to learning about new opportunities. That’s why around 80% of companies engage in talent sourcing and proactively search for candidates they want on the payroll. However, sourcing the top talent is far easier said than done. So how can your organization streamline the hiring process, while still recruiting the best candidates?
If you want to recruit the top talent for your organization, you should know the fundamentals of talent sourcing including candidate sourcing strategies and tools.
What Is Talent Sourcing?
Talent sourcing refers to identifying, researching, and networking with potential candidates in order to convert them into job applicants. The broader task of candidate sourcing is to generate a consistent flow of qualified applicants. During the talent sourcing process, recruiters collect applications, resumes, and other candidate information and pre-screen potential candidates for current or future job positions. Sourcing is no longer considered just the process of collecting candidate names and resumes. It is an essential part of a company’s overall recruitment strategy to find and engage passive candidates. After all, passive candidates are 25% more likely to stay at a company long-term, and their overall performance is 9% higher than active candidates.
Talent Sourcing Strategies
Having a smart candidate sourcing strategy in recruitment not only helps you to enrich your talent pool but also creates a candidate engagement and improves the candidate experience. Below we listed the top three talent sourcing strategies you should implement in your recruitment process:
Target passive candidates
Passive job seekers are great for companies to target as they can generally be more reliable than active candidates and will settle down in a new role much quicker. In addition, passive candidates usually have less competition because they are not looking for other jobs. Finally, don’t forget that 70% of the global workforce are passive candidates. So not sourcing passive candidates means missing out on an opportunity to hire and retain great talent.
Engage through your employer brand
Your employer brand is where the talent sourcing process within the candidate journey begins. It is important to have a strong employer brand and web presence to capture the attention of potential candidates. Sharing your company culture, office updates, and industry news will all contribute to building an employer brand. You can also ask your current employees to leave reviews on hiring platforms such as Glassdoor and Indeed. If potential candidates can see loyalty from your existing or past employees, they are more likely to apply for your open position.
Source your ATS
There are many places you can source candidates from. The key is to use your applicant tracking system (ATS) so potential candidates for different sources flow into one place. It makes ATS an invaluable resource for sourcing top talent. It offers a direct sourcing channel full of applicants who may not have been the best fit for one position, but have qualifications needed for current or future job openings.
Even though most ATSs are great at performing tasks such as collecting and storing information, and automating communication, they usually lack tools for efficient sourcing. Therefore, we recommend using additional software designed specifically to improve talent sourcing.
Talent Sourcing Tool
Sourcing candidates can be more of a challenge but with additional technologies, it becomes much easier. MatchMiner by Employa is an AI-driven research assistant that makes talent sourcing more efficient with the use of advanced sourcing tools. MatchMiner can become a great addition to your current ATS. It helps recruiters and hiring managers quickly fill the talent pipeline by leveraging the database of resumes the company has collected in its ATS. MatchMiner saves up to 5 hours per 100 candidates sourced while shortening the hiring cycle’s length and saving sourcing overheads. If you are thinking about how to source candidates more efficiently, contact Employa and we will help you!