Companies today list ‘sourcing talent’ as their number one concern – and for a good reason. In order to stay competitive, you need to have the best talent on your team.
But being competitive isn’t the only reason for developing an efficient talent-sourcing strategy. If you don’t have a good strategy in place, it can take longer to find the right candidate for your company, and in some situations, you may not have that time.
Imagine a vital position in your company is suddenly left vacant. If you don’t have a good talent sourcing strategy in place, it could take weeks or even months to fill that position.
A good talent sourcing strategy will help you find the best talent quickly and efficiently, so you can get back to business as usual.
Talent sourcing explained
Talent sourcing is the process of identifying and researching potential talent and networking with them.
A talent sourcing strategy is a system of sourcing tools, procedures, and actions used for locating and attracting qualified people for further employment.
As opposed to recruitment, which focuses on filling specific positions, talent sourcing is a strategic approach to building a steady pipeline of qualified applicants.
The difference between talent pool and talent pipeline
While your talent pool contains candidate information collected from various places (previous job interviews, job fairs, submitted resumes, etc.), your talent pipeline includes only the vetted applicants that have the qualities you need for the open position in your company.
Once you get strong candidates and eliminate those unsuitable for the vacancy, the rest are moved to your talent pipeline for further consideration. A talent pipeline helps you pinpoint ideal candidates in a more efficient way and allows you to make better decisions in the end.
13 proven candidate sourcing strategies
There’s no magic wand for sourcing great talent, but there are certainly some best practices that can help your company succeed.
Here are a few tips for developing the best talent-sourcing strategy:
1. Know the difference between talent sourcers and recruiters
The first step to sourcing great talent is understanding the difference between talent sourcers and recruiters.
A talent sourcer’s job is to find and qualify potential hires, while a recruiter’s job is to handle the process from when a candidate is considered qualified to when they’re hired.
If you have a big enough HR team, make sure that your talent sourcers are constantly supplying strong candidates on one end of the recruitment pipeline and your recruiters are busy scheduling interviews and conducting reference checks on the other.
If your recruiting team is on the smaller side, clearly determine the exact steps of the sourcing and hiring process to make it easier for everyone involved.
2. Define your ideal candidate
The second step is to define a candidate’s persona.
What skills and experience are required? What personal qualities would make someone a good fit for your company? Answering these questions will help you focus your talent-sourcing efforts.
Candidate personas are developed by identifying the characteristics, abilities, and traits that make up your ideal employee, which can be used as a guideline when finding suitable candidates.
3. Understand the job requirements
In order to write an effective job posting, you need to know what the position entails on a day-to-day basis. What responsibilities will this person have? What qualifications are required?
Talk with the hiring manager in your company to get a clear understanding of what they’re looking for in a candidate.
This will help you write a more accurate job posting, which in turn will attract better candidates.
4. Use the right keywords
When writing your job posting, be sure to use industry-specific keywords that candidates are likely to search for. This will help ensure your posting appears in candidate searches.
When searching for candidates, modify keywords to discover additional prospects online. Broaden your search words and semantics – this can help you discover talent in places you hadn’t considered before.
5. Get in touch with former applicants
Former applicants are a great source of talent. They’ve already shown an interest in your company and may have the skills and experience you’re looking for.
Before starting your search from scratch, take a look at your list of former applicants to see if anyone is a good fit for the open position.
6. Use an applicant tracking system
An applicant tracking system (ATS) is a software application that helps businesses track, manage, and store job applications.
An ATS can be a valuable tool for sourcing talent. It can help you keep track of applicants, schedule interviews, and make the hiring process more efficient.
All of your former applicants should be stored in this database which is actually your sourcing pipeline.
Also, fill the pipeline with passive candidates who aren’t ready to move but could be in the future with the right encouragement.
7. Build a strong employer brand
A strong employer brand will make your company more attractive to potential hires. Candidates are more likely to apply for a job with a company that has a good reputation.
There are several ways to build a strong employer brand, such as creating an engaging careers page on your website, writing blog posts about your company culture, and posting attractive videos about the company’s values and culture, as well as positive employee reviews on job sites.
Millennials are more likely to research a company’s employer brand before applying for a job. So if you’re looking to attract talent from this demographic, make sure your employer brand is strong.
8. Use social media
Social media is a great way to reach out to potential candidates. You can use social media to promote your employer brand and share open positions with your network.
LinkedIn is the most popular social media platform for recruiting, but you can also use Twitter, Facebook, and Instagram to reach potential candidates.
Indeed is another great platform for sourcing talent. You can post jobs on Indeed and search for candidates with the skills and experience you’re looking for.
When using social media for recruiting, it’s important to be professional and polite. Don’t spam potential candidates with job postings or try to sell them on your company; this will only turn them off.
9. Utilize employee referrals
Employee referrals are a great way to find talented candidates. Your employees likely have a network of friends and acquaintances who they can refer to you.
Employee referral programs can reduce time-to-hire and increase the quality of hire. They’re also more cost-effective than other recruiting methods.
Encourage your employees to refer candidates by offering a referral bonus. This will give them the incentive to help you find great talent.
10. Keep track of your progress
It’s important to keep track of your talent-sourcing progress. This will help you identify what’s working and what isn’t and make necessary adjustments to your strategy.
Keep track of the number of applicants you source, the number of interviews you conduct, and the number of offers you extend. This data will be helpful in determining the effectiveness of your talent-sourcing strategy.
11. Consider hiring internally
If you have talented employees who are interested in advancing their careers, consider hiring them for the open position.
Promoting from within can be a great way to retain top talent and show your employees there are opportunities for growth at your company.
12. Review your strategy regularly
Your talent-sourcing strategy should be reviewed on a regular basis to ensure it’s still effective. As your company grows and changes, your talent-sourcing strategy may need to be revised.
13. Use a recruiting agency
If you’re having trouble finding the right candidates, you may want to consider using a recruiting agency.
A good recruiting agency will have a network of talented candidates and can help you identify the best match for your open positions. They can also handle the screening process and help you schedule and conduct interviews.
Developing a strong talent-sourcing strategy is essential for any business that wants to hire top talent. By following the tips in this article, you can develop a talent-sourcing strategy that will help you find and attract the best candidates for your open positions.
Hundreds of new candidates are looking for job openings every day, and CIBR Warriors is here to help you find the right one for you.
For more help in advancing your career or finding a qualified candidate in IT and Cybersecurity, contact us. We’d be happy to answer your questions and provide you with the best advice for getting started.