Candidate Sourcing: where others hide, we seek
Building and sustaining relationships with the market’s most talented people, even when they’re not looking to change roles: that’s the key to effective candidate sourcing.
But it isn’t easy. There are time zones to consider, language differences to overcome and new cultural mindsets to learn and project.
Spotting and nurturing elite talent is 24/7 work. And if you go it alone, other business priorities are likely to suffer.
Many senior executives need sourcing support to ensure they can remain focused on other strategic business initiatives. They delight in knowing that extra sourcing power can be turned higher or lower, depending on current business needs.
In recruiting, ‘sourcing’ refers to the process of identifying and attracting elite candidates for current and future roles.
An essential early step in the overall recruitment process, sourcing is defined by extensive research, hiring market analysis, and creative outreach to top-tier talent.
Sourcing in recruitment benefits from multilingual talent acquisition skills. Talent sourcing as a recruitment service evolved in response to today’s talent-driven hiring market and emerging technologies.
Where once recruiters managed early-stage talent sourcing, discovering exceptional candidates now requires strategic research. Sourcers must be able to parse through mountains of information available through job boards, social media, and professional groups.
After pinpointing promising talent, sourcers shift to networking and relationship building. Extensive career platforms and social networks give professionals at every level an unprecedented understanding of the job market and new opportunities in their field—even when they aren’t actively looking to change roles.
Through authentic communication and sustained engagement, sourcers build pools of skilled talent who would consider the right opportunity offered by the right enterprise. These deeply established connections give companies the edge in attracting the best and brightest in their industry when mission-critical roles open, or hiring needs accelerate.
Sourcing is a foundational, proactive hiring strategy. As a result, the process reduces the high recruitment costs and poor hires associated with reactive hiring.
Other sourcing benefits include:
- Faster, streamlined hiring
- Access to niche, industry-specific talent
- Lowered need for agencies
- Higher volume of quality, at-the-ready talent
Finally, sourcing is a flexible function that can accelerate or slow down based on hiring requirements and market changes.
Today’s most innovative sourcing strategies include:
- Talent mapping: identifying and mapping skilled talent by role and industry
- Active talent pooling: developing at-the-ready talent pools through professional network building and timely communication
- Compensation analysis: researching competitor compensation and perks, and talent expectations to improve candidate engagement rates
- Sourcing technology: using research and candidate management tools to discover and engage quality candidates
- Predictive analytics: tracking candidate behaviors that signal interest in changing roles for greater outreach and candidate engagement
- Global sourcing: language and local cultural fluency is a must when sourcing regional talent for a global workforce
The sourcing toolbox is ever evolving. Highly effective sourcers adapt their strategies and harness technology creatively to match the shifting demands of specific companies and the global hiring market.
Sourcing and recruiting are both essential talent acquisition services leveraged at different stages of the hiring process. Sourcing focuses on the top of the hiring funnel and recruiting takes over once candidates are sourced for specific roles.
Strategic sourcers create talent pipelines, research competitor workforces and industry-specific compensation packages, and communicate skillfully with professionals who have limited bandwidth and are not actively seeking other opportunities.
In the past, there was significant overlap between sourcing and recruiting, and in many instances the recruiter managed sourcing. Today, however, sourcing has evolved into a specialty that requires a distinct blend of interpersonal, technical, and research skills.
Our flagship Centre of Excellence (CoE) connects you with top global talent. We speak English, Dutch, Latvian, Polish, Slovak, Czech, French, Italian, German, Hungarian, Norwegian, Swedish, Danish, Russian, Ukrainian, Spanish, Slovakian, Urdu, and Cantonese.
Our sourcers use market-leading search technology to map candidate pools and identify exceptional candidates who may otherwise remain undiscovered. Big data technology helps us deep-dive into how candidates and competitors operate in your market.
Subscription sourcing levels the playing field
Talent drives business growth. But how can smaller organisations compete against well-known, larger companies with deeper pockets and in-house recruitment?
Subscription sourcing is the answer. We scour the market to handpick and recommend elite talent. All you need to do is the interview and onboarding. Subscription sourcing is ideal for 30 to 60 hires per year, but can be used to hire as few as ten people per year.
Subscription sourcing can:
- Reduce total costs by up to 50 per cent
- Significantly reduce time-to-hire
- Be rolled out within six weeks
Pick-and-mix talent sourcing
Your talent sourcing solution can include language services to improve candidate communications. It can also help you with:
- Candidate longlisting
- Industry-specific sourcing
- Candidate management and tracking
- Talent mapping, sourcing and pipelining
- Onsite or offsite sourcing team capabilities
Value-driven strategic sourcing
Strategic sourcing doesn't just uncover great talent for your organisation. It also generates a higher volume of skilled, at-the-ready talent. Value-driven sourcing also enables:
- Streamlined hiring
- Access to niche talent
- Lowered agency costs
- Increased hiring speed
Constructing top talent
Faced with paying a premium for ex-pat hiring, Caterpillar sought to significantly improve their recruitment strategy. They sought to reduce costs while finding top candidates.
Our strategy starts with building relationships with highly skilled students from Africa and the Middle East. These students, who are earning degrees in Europe, are tapped to fill head office and regional roles after graduating. Caterpillar is now set to double its hiring levels.