5 Best Strategies for Talent Sourcing

Skilled employees are in high demand today. The war for talent only continues, with estimates suggesting it could reach 85 million people by 2030. More companies are realizing the importance of remaining competitive through effective talent sourcing. Having the right people is crucial.

Top talent can be up to eight times more productive.  As your collective workforce becomes increasingly innovative and creative, more work is completed in less time. As market trends shift rapidly and technology advances further, adaptable employees become invaluable. But top talent won’t just appear out of thin air. For effective talent sourcing, you need comprehensive strategies.

Define Your Ideal Candidate Profile

Before sourcing talent, it's important to know what qualities you are looking for. Begin by creating a profile for the ideal candidate. This should include both hard and soft skills required for the job. Remember, the perfect candidate is not only technically skilled but also fits well with your company's culture.

When hiring for different roles, keep in mind that the ideal candidate will differ. However, it is important to consider certain baseline requirements that apply to most roles, such as soft skills like critical thinking and adaptability. Additionally, it may be a baseline requirement for all candidates' values to be aligned with the company's mission. Knowing what you’re looking for will help you write accurate job descriptions and attract relevant applicants.

Leverage Your Employee Referral Program

Research suggests that employee referrals are more likely to accept offers, be productive, and stick around for longer. When employees refer talent, both the employer and candidate have insights that optimize the match. They can provide genuine first-hand perspectives on the candidate and the company to the relevant party.

Referral programs can be an effective talent-sourcing strategy with shorter hiring timeframes and reduced costs. Because of the mutual trust and likelihood of longer tenure, employers can save on long-term costs that come with high turnover. You can invest these savings into the program’s promotion and rewards.

Employee referrals can also help discover talented individuals who may not be actively searching for employment. Knowing and trusting someone could be all they need to explore the opportunity with your company.

Choose Data-Driven Candidate Recruitment

Enhance your talent sourcing with data. It can help to improve diversity and inclusion in your workplace by identifying representation gaps. It will predict expansion and hiring needs. The data shines a light on turnover rates and candidate experience. The benefits are extensive.

There are different ways you can use data in recruitment. Look at your time and source to hire to determine what resources to focus your efforts on. Conduct pre-assessments to better evaluate candidates. Eliminate unconscious bias by identifying patterns in hiring. Data-driven recruitment utilizes these key metrics to refine and optimize talent sourcing.

The bottom line is, humans make errors, have conscious and unconscious bias, and simply can’t retain information like technology can.

Optimize Company Branding

What values does your company stand for? What kind of working environment do you want to create? Is there anything unique about your company? What kind of people do you want to attract? The answers to these questions establish your company branding. You’ll need to consider your in-house culture, management style, and online presence.

Did you know that 92% of employees would consider leaving their current role for a company with an excellent corporate reputation? Employer branding is therefore key to talent sourcing. Top talent won’t apply for jobs or respond to outreach if they perceive your company poorly.

Companies can leverage data and analytics to verify if their employer branding is being perceived accurately. Utilize regular pulse surveys to gain employee feedback and conduct exit interviews for alternative insights.

Utilize Passive Talent Sourcing

Employers commonly overlook people who aren’t looking for work when talent sourcing. I know what you’re thinking – why waste time recruiting someone who isn’t actively interested? Don’t assume that employed means unavailable. One study found that 39% of people would consider the right offer even if they’re not job-seeking. Passive talent sourcing can be invaluable if you do it right.

Use talent-sourcing channels like LinkedIn and social media communities. Engage with these networks and clearly advertise roles in the company. Consider company alumni and referral programs. Are there opportunities for lateral or upward moves for existing employees? Industry conferences will also have talented attendees to source.

Keep a record of these interactions on an applicant tracking system. This talent-sourcing strategy is a continuous one. You’ll need to grow and maintain your network to get the most out of this approach.

Final Comments

With so many employers struggling to find skilled workers, it’s important to have an effective talent-sourcing strategy. Employees are, after all, the most important aspect of any company – and the demand for top talent is outpacing supply.

Believe it or not, it isn’t impossible to find a candidate who fits your company culture, has relevant skills, and is adaptable. In today's competitive job market, securing top talent requires a strategic approach. Elevate your hiring game and emerge victorious in the war for talent with our expert sourcing strategies.