Imagine a new startup company with 200 empty roles that need to be filled with top and talented candidates, but how does the company get the word out to the concentrated labor market? Mind you, and the labor market consists of both gifted, talented, and exceptionally valuable candidates. One must be able to source the right people effectively. As a firm, how do you recruit the 200 best-talented people among the millions of people out there?
This is where candidate sourcing comes into play. Candidate sourcing is like picking the proverbial chaff from the wheat. It is identifying your desired talents that match the roles and skills you need from the crowd. It involves going into the market and sourcing for the candidate, researching, and sometimes emailing and reaching out to them to create a desired talent database.
After these processes are completed, the recruitment process comes into place to ensure the candidates fit perfectly into the envisioned roles. Sourcing before recruiting might sound stressful and needless since, after all, recruitment is the last step. But the companies that actively engage in it beg to differ.
If you are looking for assistance with candidate sourcing, reach out to the Velocity Resource Group. Our unique process for candidate sourcing, data mining, and pre-screening allows our clients to make the most of every recruiting dollar and connect with quality candidates fast.
The Importance of Candidate Sourcing in Recruitment
Sourcing is all about filtering the pool of candidates. The significant idea here is to make sure that the pool of candidates is at a higher quality level so that the final hire will be fantastic. If you choose from a pack of lower-quality candidates, you are already headed in the wrong direction.
But with the right help, you can obtain valuable professionals that are more vetted, as a firm like Velocity Resource Group combs through resumes, membership sites, and other digital communities to present higher quality individuals.
There are various sources to obtain a pool of candidates, and these sources can vary from social media networks to older methods like calling up individuals at multiple places. The value of sourcing to hiring managers is that it is proactive instead of reactive, which adds immense value to the process. It shows that the firm is looking at the hiring matter from a holistic standpoint instead of from a micro perspective. The truth is that it is better to have more proactive practices as it helps to hire managers to make significant decisions and minimizes their risk, labor, and issues to the company.
The internet and the world wide web present a wide variety of opportunities and many distractions. Remember that having a tried and true recruitment process helps you move through the clutter and get the right hires to your dynamic environment. Whether you are a global financial services company or a healthcare firm at a different job location, you want to have the best-qualified candidates to add value to your firm.
Here are a few more reasons why qualified candidates through the right technical recruiter who follows effective sourcing group policies are beneficial.
It gives the recruiter control.
Sourcing allows the recruiter to choose the set of talents they require; this advantage cannot be found in recruitment as there are loads of resumes to read, which transfers the control to their papers. Thus, the selection process found in recruitment has been removed, and the management of who is fit and who should be discarded lies solely in the recruiter’s hands.
The quality of hire is better.
But did know that among the chosen ones, there is a 5% chance that the top talent has a less attractive resume and will be overlooked. 42% of the resumes submitted for a particular job are unqualified and have little to no relevance, according to recent surveys. 17% of the candidates are still incapable of choosing resumes, but they may somehow have slipped through the filtering process.
In outsourcing, the resume is not the icing on the cake but rather a supplement. The recruiter gets to converse with the candidates and access their capabilities before adding them to the database of the chosen candidates. After a final decision, the quality of the hiring level when compared to straight recruitment is 50% better.
You want to make sure to work with the candidate that meets multiple deadlines, works independently, and conducts similar jobs to be a value add to the organization. That is why it is best to obtain the best talent from the start.
Reduces time and stress for managers.
For 200 vacant posts, there is 100 times the number of submitted resumes. So, who has the time to go through the 20,000 documents for just 200 positions perfectly? Assuming there are individuals to do so, how sure is the quality of the review rate; will all the documents be carefully scrutinized?
Sourcing first leaves you with only 2000 documents that can be checked carefully, saving the recruiter time and effort.
Reduces the cost of hire for managers.
The cost of hiring through direct recruitment is relatively higher than outsourcing because the chosen recruiter or recruitment company gets paid to do all the jobs. The company spends money on digital ads, printing bills, and posters, and erecting billboards to send out the message.
But with sourcing, you can take advantage of vetted and effective processes to obtain better candidates.
It increases the diversity of the hire.
Let’s face it, the issue of diversity is here to stay and will be a critical topic moving forward. So, as a new startup or an entrenched corporation, your workforce should contain top talents from all over the world with diverse skill sets and perspectives.
Recruiting will get you top talents and top talents from different schools of thought, giving you a heterogeneous workforce compared to the regular homogeneity.
Cuts off those without credibility.
A recruiter’s worst nightmare is a talent that looks right for the job but is far from qualified. The desperation that accompanies them is bewildering. They are ready to do, say and write anything as long as they get the job. Unfortunately, 30% of the information provided by potential talent is false, and they are unqualified to be an effective addition to the end firm. Most sourcing centers on passive talents who already have credibility; they are 82% liable, to tell the truth as they already have opportunities, and lying gives them no advantage.
Those with experience and working in current opportunities will undoubtedly be valuable in more ways than one as they will want to find ways to obtain better opportunities.
Also, they are more versed and technologically proficient as they are used to working, giving your company and your team more advantage. These are the best candidates for the job as they will use their drive, ambition, expertise, and knowledge to bring new energy to the job and your team at your location.
Reach Out to Our Team To Review Priorities and Overcome Challenges
Sourcing of candidates before recruitment gives a comparative advantage over direct recruitment. More companies have found the light in sourcing and adapting it as it increases the quality of hire, is less stressful, and provides a heterogeneous set of top talents. However, sourcing has not removed direct hiring as 70% of companies still engage in it. VRG is a recruiting-solutions company that leverages our global workforce to deliver resumes overnight.
Our disciplined process for candidate pre-screening and recruiting efficiency is an unparalleled strategic advantage to companies looking for qualified candidates.
Contact us today at 813-586-1700 to learn more about what we do and to help you with your jobs. Our firm seeks to provide excellent services as we help to identify those candidates with the best qualifications for your open positions. Learn more about how we conduct our sourcing, search for potential hires, and offer support in the hiring process. Find out how our team makes a difference for your firm.