Alternative Candidate Sourcing Strategies for Industries with Low Unemployment Rate

Finding qualified candidates is becoming increasingly challenging for highly competitive industries such as technology, engineering, and healthcare. There is a huge demand for qualified professionals, and unemployment rates in many industries are at their lowest in nearly 50 years. It is time to use alternative candidate sourcing strategies to attract and place qualified candidates. Let’s look at five unique talent sourcing techniques that can help find suitable candidates for jobs in industries facing talent shortages.

The jobs are growing in the tech and digital industry, financial and healthcare sectors creating a huge demand for workforce. Still, the limited availability of talent has made it highly challenging for recruiters to fill open positions. The skills shortages and growing jobs have forced the recruitment industry to rethink its talent acquisition and candidate attraction strategies. The number of candidates actively searching for jobs is few, and talent sourcing strategies focusing on attracting candidates from a passive candidate pool are the need of the hour.

Many candidate sourcing companies now offer different types of talent sourcing services that are not just focussed on traditional techniques such as advertising on job boards and website career pages but take a more comprehensive approach. Recruiters are broadening their search by utilizing a multi-prolonged approach to finding qualified candidates and meeting all hiring requirements. Listed below are some alternative candidate sourcing strategies to strengthen your efforts and complement traditional sourcing techniques, including advertising and posting on job boards.

Five Alternative Strategies for Talent Sourcing

1. CV Sourcing

CV sourcing is a technique used to reach out directly to suitable candidates with the required skill set. Many CV sourcing companies offer specialist services and tools to help recruiters search for resumes of qualified candidates in less time and connect with potential employees directly without waiting for them to apply on job postings across job boards. This direct approach helps tackle two major challenges- getting the job vacancy out in front of suitable candidates and overcoming competition by finding candidates before your competitors. CV search tools can be extremely useful in matching the job specifications with candidates’ resumes and also enable recruiters to search multiple databases in one go, shortening the entire recruitment process.

2. Talent Pipeline

A talent pool or pipeline of active and passive candidates is a rich resource that allows recruiters to quickly find suitable candidates for a job from a pre-existing database. Many candidate sourcing companies maintain their own database of candidates, which can be used to fill hard-to-fill or urgent roles. A talent pipeline allows you to quickly find candidates that match job specifications lending an instant advantage over other recruiting agencies that rely only on advertising and job postings to source candidates. Maintaining a robust talent pool gives the ability to retrieve matching CVs within a few hours of receiving the job requirement and contacting potential employees immediately.

3. Social Media Sourcing

Engagement on social media platforms is a great way to reach out to potential candidates and communicate with candidates. Social media presence helps to build a company’s brand image by maintaining a strong online presence. Many networking sites, such as LinkedIn, also offer dedicated platforms for job posting and are a great way to reach out to passive candidates that may not be looking for a job but might consider a good job opportunity. Staying active on social media channels, engaging with related business communities online, and making interesting posts about your job opening can boost talent sourcing efforts and reduce hiring time and costs.

4. Employee Referrals

Employee referrals are one of the best ways to source candidates. Referrals from the network of current and past employees can help recruiters find qualified candidates quicker and efficiently. A referral scheme or bonus can improve the referral process motivating employees to refer other candidates for open jobs. Moreover, current or past employees who have already worked with the company are aware of the job requirements, work conditions, and skills required and can attest to the employer or recruiters building trust and confidence in applicants and improving their chances of accepting the offer.

5. Job Fairs and University Career Fairs

The traditional career fairs organized for university graduates are highly effective in recruiting for entry-level jobs. Job fairs allow recruiters and companies to contact potential candidates in person and speed up the entire recruitment process. Many recruiters interview the candidates on-spot, make job offers and hire qualified candidates saving time and cost. Another advantage the job fairs offer is that there is a captive market in one place- all the people attending the fair are actively looking for a job or considering their options, hence more likely to accept offers. Job and career fairs allow recruiters to build their talent pool and expand the candidate database by recording their details for future openings.

Finding qualified candidates with the best candidate sourcing companies

QX Global Group is one of the best companies offering talent sourcing services for highly competitive industries, including technology, healthcare, manufacturing, engineering, and many more. Contact us for a free consultation today if you want to learn more about our offshore and nearshore RPO solutions.

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Originally published Nov 17, 2022 02:11:56, updated Feb 05 2024

Topics: Candidate Sourcing, CV Sourcing, Resume Formatting, Talent Sourcing