5 Ways Talent Sourcing Solutions Find Top Candidates

Recruitment is not just about filling open positions; it’s about building relationships with both active and passive candidates to create a talent pipeline. Research shows that while 90% of professionals are open to hearing about new job opportunities, only 44% are actively seeking employment.

This leaves a vast pool of passive candidates who are often overlooked. Leveraging talent sourcing solutions allows staffing firms to tap into this untapped potential, building a sustainable talent pool for current and future needs. The talent sourcing process has become highly specialized and streamlined to overcome the challenges arising due to labor shortages and increased competition.

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 | Benefits and Analysis

Talent sourcing solutions can help you stay ahead of your competitors. The recruiting process comprises six stages of the full life cycle recruiting, 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 firm can benefit from talent sourcing solutions:

1. Better Hiring Quality

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 firms in various other ways, such as:

• A strong talent network gives your company a more significant competitive advantage.
• Such candidates are more likely to be up to date with industry trends as they are currently working and less likely to require skill development and training.
• Talent sourcing specialists can help you find the best-fit candidates for a vacancy by identifying the right skill set in potential candidates helping your business improve productivity.

2. Enhanced Employer Reputation

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.

3. Diversity and Inclusion

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 firms 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.

4. Lower Cost of Hiring

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 firms to save up to 40%.

Generate Revenue with Talent Sourcing Solutions

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.

Download Case Study

5. Reduced Time to Hire

Hiring managers spend a lot of time and money on recruiting. According to SHRM’s, the average Time to Fill is 36 days. (Note that the average Time to Fill differs substantially between industries, types of positions, and hiring locations) 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.

Best Talent Sourcing Companies

QX Global Group is a leading talent sourcing company that offers specialist offshore candidate sourcing services to staffing and recruitment firms. 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 Sep 20, 2024 12:09:16, updated Sep 23 2024

Topics: Recruitment Outsourcing Services, Talent Sourcing Company, Talent Sourcing Solutions