Recruitment industry analysis indicates that although 90% of people are interested in learning about new opportunities, only 36% are active job seekers looking out for new job opportunities. A large talent pool of passive candidates remains untapped, and a proactive approach to connecting with passive talent can help talent sourcing specialists find the best candidates. It is also beneficial in developing a robust talent pipeline for the future and is one of the most effective talent sourcing solutions in today’s time.
The talent sourcing process has become highly specialized and streamlined to overcome the challenges arising due to labor shortages and increased competition. A staffing company that merely looks out for active candidates across various digital platforms through job postings and other traditional ways may not find the best available talent. The services of a specialist talent sourcing company will help them optimize their recruitment process, identify the best industry talent, establish contact, and convert potential candidates into actual applicants. Read below to discover how talent sourcing solutions can help a staffing agency find top talent and simultaneously save operational and admin costs.
Talent sourcing solutions can help you stay ahead of your competitors. The recruiting process comprises six stages of the recruiting life cycle, and sourcing is one of the most crucial. While a recruiter focuses on the entire life cycle, including all recruiting activities from sourcing to onboarding, a talent sourcing specialist solely focuses on finding top talent and building a talent pool of potential candidates. Therefore, hiring the services of a leading talent sourcing company can give your sourcing efforts a competitive edge and make the entire process more efficient. Let’s look at the ways your staffing agency can benefit from talent sourcing solutions:
When you seek candidates proactively and focus on connecting with active as well as passive candidates, it helps to nurture a talent pipeline for the future and gradually improve your hiring quality. Actively seeking candidates through the talent sourcing process enables recruiters better understand the role requirements and consequently source the best-fit candidates. Building a strong network of passive candidates benefits staffing agencies in various other ways, such as:
Want to know how to find passive candidates?
Here are the top four Passive Candidate Sourcing best practices you can start today.
Talent sourcing plays a significant role in developing and improving an employer’s brand and reputation as a great workplace. A company that proactively reaches out to passive candidates and informs them about open roles is more likely to create a positive impression. The talent sourcing process effectively improves candidate experience, positively impacting the applicants and increasing their chances of accepting an offer.
Employee referrals or traditional sourcing techniques tend to contribute to a homogenous pipeline. Referrals and active candidates are more likely to recommend people who are demographically like themselves. However, offshore talent sourcing companies can help staffing agencies to hire diverse talent and reach out to a wider pool of candidates across the globe. They already have a talent pipeline of qualified candidates and can give hiring managers more options to fill the open position with diverse talent.
On average, hiring managers spend 15% of their expenses on recruitment, and the average cost-per-hire in the United States for an open position is $4,425. The talent sourcing process can help reduce this cost of hiring, enabling staffing agencies to save up to 40%.
Find out how Outsourced Talent Sourcing Solutions helped a tech staffing agency generate £300,000 in revenue in just nine months and save overhead costs.
Hiring managers spend a lot of time and money on recruiting. The average time to fill an open position is around three to four weeks in the United States of America, and hiring managers spend almost two-thirds of their time in the interview process alone. On the other hand, a talent sourcing company can help reduce the time-to-hire and make hiring more efficient. Such companies have a pipeline of qualified candidates they can readily refer to and close the hiring requirements faster.
QX Global Group is a leading talent sourcing company that offers specialist offshore candidate sourcing services to staffing and recruitment agencies. Our talent sourcing services help you build a talent pipeline for current job openings or future references making your recruitment process more effective.
If you want our team to help you resolve talent gaps and access the best talent for your hiring requisitions, get in touch with our talent sourcing specialists for a free consultation.
Originally published Jan 18, 2023 12:01:16, updated Jan 24 2023