How companies source and hire top talent has changed drastically in the last decade. In a bid to stay competitive, employers are now the ones proactively chasing talent. Rather than waiting for resumes to come to them, employers actively search for candidates due to the high demand for skilled workers and the rapidly changing job market.
Effective talent sourcing has become a key part of the recruiting process for employers to attract the best candidates. Therefore, if your organization aims to hire top talent, it's essential to understand the basics of talent sourcing.
This article will discuss 10 actionable tips to help you build an effective talent-sourcing strategy. From building employer branding to leveraging professional networks, these tips will help you gain access to top talent and cut costs in the long run.
What Is Talent Sourcing?
Often confused and sometimes used interchangeably, talent sourcing and talent acquisition are two distinct processes. You'll sometimes find terms like "talent acquisition sourcing" and "talent acquisition sourcing strategy" used by HR departments and hiring managers in the recruitment industry. However, talent sourcing is part of the more extensive talent acquisition process.
While talent acquisition is the collective process of identifying, attracting, and onboarding new talent, talent sourcing is essentially the practice of finding and engaging with potential candidates. It involves proactively seeking out passive candidates who may not be actively looking for a job but have the potential to become great hires. It's an integral part of the hiring process and allows employers to reach a wider talent pool and identify qualified candidates who may not be available on job boards.
Talent sourcing, just like most hiring processes, requires the skills of a specialist to target and approach the right people. A talent sourcing specialist uses various channels and techniques to source candidates from the internet, professional networks, and referral programs. They typically use technology like talent sourcing software and tools to identify, target, and engage ideal candidates for a particular job.
Talent Sourcing Tips
An effective talent-sourcing strategy is essential for attracting and retaining the best talent. Staying abreast of the latest trends and talent-sourcing strategies is important with an ever-evolving job market and high competition for top talent. What may have worked a few years ago may not necessarily work today. Below are 10 expert tips to help you create an effective talent-sourcing strategy.
1. Strengthen Your Employer Brand
Your employer brand is one of the most important aspects of sourcing talent. It's the "face" of your company and a key factor in determining the quality of candidates you'll be able to attract. Therefore, creating a strong employer brand that stands out from the competition is important.
To build an employer brand, you must focus on cultivating and promoting your company culture. This will help you attract the perfect candidate for any role with the right skills and fits your company's values well. Additionally, your message must stay consistent across all platforms and channels, including social media, job boards, and websites. You don't want to send conflicting messages to potential candidates and lose credibility.
2. Offer Competitive Compensation & Benefits
You can have the most eye-catching employer brand and a great recruitment process, but if your compensation and benefits aren't competitive, you won't attract the best talent. To entice qualified applicants, offering competitive compensation and benefits is essential. Therefore, you must research salary trends in the industry and conduct reviews of your compensation packages to ensure you're offering competitive rates.
3. Provide Flexible Work Arrangements
When potential candidates think about the job market, one primary consideration is flexibility. Providing flexible work arrangements and schedules in your organization is a great way to attract top talent. It shows that you understand the needs of today's workforce and respect work/life balance. Employers willing to provide flexible work arrangements often have a better chance of acquiring the best talent because candidates feel respected and valued.
4. Support Employee Development & Growth
It's one thing to hire the perfect candidate and another entirely to retain them. Potential employees will almost always look at a company's growth potential when considering whether to accept an offer. By offering employees the flexibility to learn new skills and gain relevant certifications, you are more likely to attract a larger pool of qualified applicants. Not only that, but you are also showing potential employees that investing in development can create a positive and collaborative work environment.
For instance, providing the opportunity to attend workshops and seminars or offering a mentorship program are fantastic ways of showing you are open to supporting your employees’ development and growth. In addition, actively encouraging employees to aim for certifications or higher qualifications shows that you care about their future and career growth.
5. Craft Robust Job Postings
Job postings are the first thing candidates will see and learn about your company. It's essential to ensure that these postings accurately reflect what you're looking for in a candidate and the company culture you're trying to create.
When crafting job postings, it is important to be specific about duties and responsibilities. This will help you target the right candidates and save time by pre-screening applicants unsuitable for the position. In addition, provide a detailed description of the role and the type of person you're looking for. This will help ensure that suitable candidates apply and that they have an accurate understanding of what you expect from them.
6. Leverage Social Media & Professional Networks
Social media networks are among the best and sometimes overlooked talent-sourcing tools. Using platforms like LinkedIn, Twitter, and Facebook can help you contact potential candidates and quickly connect them to your job postings or organization. These platforms are great for learning about a candidate’s work history, past projects, and industry connections, which can give you an edge in talent sourcing.
You can also use social media to post jobs and highlight any unique benefits that your organization offers to attract the best candidates. On the other hand, professional networks like industry associations and alumni groups provide a great opportunity to identify qualified candidates who are already connected in your field.
7. Implement Employee Referral Programs
Employee referrals are one of the best ways to source talent, as they provide you with a pre-screened list of potential employees. Encouraging current employees to refer qualified candidates can help you fill positions faster and with less effort. By receiving referral incentives, such as bonuses or gift cards, current employees will be more inclined to refer their contacts who could fit the job well. In addition, having an employee referral program in place can help create a sense of camaraderie among your team and create an inviting work environment.
8. Participate in Industry Events & Career Fairs
Attending industry events and career fairs is one of the most effective ways to source talented candidates. It can help you build relationships with potential passive and active candidates and provide a great opportunity to network with other professionals. These events also allow you to showcase your company culture and highlight your company's unique benefits. Furthermore, attending these events can help you better understand the current industry trends, which can be invaluable when finding the right talent.
9. Collaborate With Educational Institutions
Universities, colleges, and other educational institutions are great places to find top talent. By collaborating with them, you can access the new graduates and experienced professionals they produce. You can access their job boards, career centers, and alumni databases to find potential candidates for any role by forging links with universities and colleges. You can also offer internships and student placements, providing access to a vast talent pool in the long run.
10. Maintain a Talent Pipeline
Talent pipelines are a great way to ensure you can access qualified candidates when needed. A talent pipeline consists of potential hires you may have identified and are keeping track of for future roles. In other words, a talent pipeline helps you maintain a pool of qualified leads for a later time to fill an open position. This can help you identify an ideal candidate for any role quickly and efficiently, reducing the time to hire significantly. For instance, if you've identified a qualified candidate who isn't available for the current position, you can add them to your talent pipeline and contact them when a new role arises.
Revelo's Talent Sourcing Solution
The key to building an effective talent-sourcing strategy lies in understanding the current job market, leveraging the right technology, and accessing a vast talent pool. Revelo is one of the leading talent-sourcing solutions that helps organizations quickly identify and hire top talent. Our marketplace connects U.S. companies with pre-vetted remote software engineers from Latin America. This helps companies find qualified candidates quickly and provides a cost-effective solution other than traditional recruiting processes.
If you're looking for a talent-sourcing solution to help you find the perfect candidates for any role, contact us today.