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Definitive Guide to Candidate Sourcing Strategies

4 Minute Read
guide to effective candidate sourcing practice

An efficient candidate sourcing practice helps in identifying prospective candidates that ideally match the targeted profile. The process involves searching, researching, and discovering candidate resumes online using a wide range of techniques and technologies. So what are the benefits of sourcing, and what are the strategies used in it? Find out in this guide.

Benefits of Effective Candidate Sourcing Practice

1. Improved Quality of Hires

One of the most important aspects of candidate sourcing services is that it requires spending more time describing the ideal candidate. The better planning and understanding of the role improves the quality of the search. The result is a significant improvement in the quality of hires. Candidate sourcing allows you to find prospects with matching experience and skills for the position. They also have the right location and are highly likely to accept compensation and other relevant variables. Job postings alone canoe ensure access to qualified talent.

2. Reach Passive Talent

One of the most important reasons for investing your time and resources on sourcing is that it allows you to reach passive talent. Passive candidates are not currently looking for open job positions. Since they are not searching for jobs, the traditional approach to job posting and candidate searching will not help you find them. There are many reasons why matching passive talent is so important:

  • Passive talent is 120% more likely to make an impact on your organization
  • They are 33% more likely to seek challenging work
  • They are 17% less likely to require training for skill development
  • Passive talent is currently employed, which means they are up-to-date with the latest in industry technologies, regulations, and developments
  • Passive talent is more likely to present its true experience, skills, and capabilities because it doesn’t have the urgency to find a new job
  • They select your company for the right reasons
  • They are also not giving multiple interviews elsewhere like active talent

There are many more reasons why including matching passive talent is your recruiting process is more beneficial. You do not expect them to exaggerate. When you hire them, there are lesser chances of turnover. This further helps in reducing the costs associated with recruiting and onboarding.

3. Save on Time & Cost of Hiring

Most organizations have an average time to hire of 5 weeks to 8 weeks. Hiring becomes much faster and cost-effective with outsourced candidate sourcing services. This is because sourcing focuses on nurturing relationships with talent a long time before a job opening is created. You will already have a pipeline comprising of pre-checked talent that can be reached as and when a position opens up. The benefits are galore:

  • The recruiting cycle gets shortened, and roles are filled quickly
  • There is no more waiting for the right candidates to apply against the job posting
  • Sourced candidates are over 2 times more efficient to hire
  • When time-to-fill is reduced, it also helps reduce the cost of hiring

According to a study involving HR professionals, 54% agree that candidate sourcing has helped them reduce the cost of recruitment (https://www.hellotalent.com/blog/why-sourcing-is-so-important/).

4. Build Your Employer Brand

A typical talent sourcing process will create and run nurturing campaigns. This involves building and keeping your talent pool up-to-date with everything about your organization’s brand, including:

  • Product and event updates
  • Funding rounds
  • Personal stories from employees
  • Social responsibility initiatives

When your talent pool receives constant messaging from you, they tend to perceive your brand with more trust. They see your sourcer as a potential friend or ally. Words about brands travel fast. Your sourcing team and your organization’s reputation will spread out to your talent pool’s community and to individuals who may not have heard about you earlier.

There are many more reasons why you should invest more time and resources in candidate sourcing. For one, it also helps improve your organization’s workforce diversity. If your organization has a diversity initiative, this can be a big reason to make sourcing a part of your recruiting process.

Proactive Candidate Sourcing Importance

Best Candidate Sourcing Strategies

So what are the best candidate sourcing strategies used by the experts? Here are 5 strategies that your company must also embrace and follow to improve the quality of your hires and make the process much more efficient.

i. Post Jobs on Strategic Job Boards

It has been found that 30% of hires originate on job boards (https://www.icims.com/hiring-insights/for-employers/ebook-the-new-era-of-talent-acquisition). You must post your open positions on multiple job boards. You should advertise on websites where your potential candidates are looking for matching job positions.

ii. Build & Maintain Relationships

Your organization must build a talent pool and maintain positive relationships with it.

  • Keep candidates up-to-date on not just job openings, but also company news through emails
  • Personalize all emails and other modes of communication

You should market not just your employer brand, but also your culture. This will help keep your brand on top of their mind. The results will be stronger candidate pools and faster filling of open jobs.

iii. Leverage Social Sourcing

The current social media ecosystem’s unique influence has programmed almost everyone, including candidates, to seek information fast.

  • Ask your employees to share job openings and company news on their individual social media accounts
  • Your employee networks can help you grow brand awareness and candidate reach
  • 47% of employers report that LinkedIn has been their most effective branding tool
  • 43% report that professional social networks have been their leading source of quality hires
  • Social media is a platform that encourages conversation, making regular sharing and feedback important for your company

iv. Offer Great Candidate Experience

Over 8 in 10 rewriters now think that employers are no longer the ones who have the upper hand when it comes to the recruiting process.

  • The best CV sourcing strategies focus on creating a positive candidate experience
  • Candidate experience begins from the moment a candidate visits your site’s career page and continues up to the onboarding process
  • Reduce the time and number of clicks and keystrokes it requires to apply to an open position
  • Career website should render well on both desktop and mobile
  • Keep your job applicants informed about the status of their application

v. Use Employee Referrals to Source Candidates

Your current employees have the network and potential to be an excellent source for potential candidates. Employee referrals can help you in sourcing high quality hires. This quality measures in terms of the following:

  • Meeting all the job requirements
  • Reducing employee turnover

When you create an employee referral program, you are able to hire high-quality talent. Create a system that allows your employees to share profiles with the experience and skills from their networks that your organization is looking for.

Additional Tips for Candidate Sourcing

Define Your Target Group

Before you build a candidate sourcing strategy, it is important to understand your target group. You will be able to determine the channels that are most useful. You can start using the channels that are most commonly used by the targeted group. For example, recently graduated students are more likely to be found on social media sites.

Research Keywords

Keyword research is not the first thought that comes to a recruiter’s mind when it comes to traditional recruiting.

  • Keyword research helps improve your reach
  • It helps you find more qualified candidates
  • It requires understanding the job titles used by your target group

Explore New Channels

When it comes to searching for candidates, you should never be limited to a single channel. You should explore new channels that are relevant to:

  • Your organization
  • Open job position
  • Your target group

The more channels that you search on, the more skilled talent you will be able to find.

Build Your Talent Pool

This is one of the most important strategies, followed by candidate sourcing. Create a system that keeps filling up your talent pool. This will help you build a database of qualified candidates and their information for most future positions. This also helps in keeping candidates warm, as you will have a platform for staying in regular contact with them.

Learn to Keep Candidates Warm

Learn to keep candidates warm, as this will help them keep your brand in mind when future positions open. Keeping candidates warm means you have to stay in regular touch with them. This can be done by sending automated newsletters that inform them about your company. Some of the tips that should help you here include:

  • Promote your company values and culture
  • Treat candidates like they are your customers
  • Serve them with relevant and useful content when communicating
  • Stand out from the crowd by being unique

Create an Employer Brand Strategy

When you create a positive and popular employer brand, sourcing will become easier and faster. When potential candidates already know about your company and can easily understand your brand from your messages and website, they will show greater interest in your future job positions.

Stay Up-to-date

It is important to realize that sourcing strategy is always changing with changes in technology. Your recruiting team should stay up-to-date about the latest sourcing channels and tools. This will give your organization the edge by sourcing and hiring the best talent.

Use Multiple Touch Points

It is important to use multiple touchpoints to reach and get a response from high-quality talent. You cannot just send an email to a passive candidate once and expect to get a response. Multiple touches on multiple channels are required over time to get the attention and response of higher-quality talent. You should also explore other mediums of reaching talent than just using the email.

Conclusion

The recruiting process has become increasingly complicated in a world where job seekers don’t have much difficulty in finding new opportunities and taking the leap. It will not be wrong to say that it has become the candidate’s world. So recruiters have to be more innovative than ever before to find and hire the right talent.

There are dedicated candidate sourcing outsourcing service providers that can make the task of candidate sourcing and recruiting much simpler, efficient, and cost-effective for your organization. Outsourcing CV sourcing process can make a huge difference. They follow unique strategies that prepare their systems from an early stage to meet all future job openings. You can also embrace these strategies to streamline your recruiting process. Whether you have an in-house team and the talent to source the best candidates or you want to outsource the service, it offers many advantages to your organization. It can also give you an edge in a competitive market that may just help you gain the upper hand.







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