How can we hire top talent efficiency? We significantly need to change our behavior to impact our ability to get new talent. Unemployment rates are low, and demand is much more than supply. Are you ready to implement these new hiring trends? If not, you will get left behind.
We are rolling out several hiring trends to watch in 2019. Today, we will be discussing talent pool and talent sourcing.
Trend 3: Talent Pool Building and Talent Sourcing
Talent pool building is an important strategy. A talent pool is a database of candidate profiles interested in working for your organization. They could be limited to a specific area of expertise or focused on a broad grouping of individuals who can perform a variety of job tasks.
There are several reasons talent pools are being common place in organizations:
- To reduce the cost of recruitment
- To reduce the time to hire and therefore shorten the recruiting cycle
- To identify quality candidates for the future
Whether you are looking to speed up the recruitment process, reduce cost or identify skill sets a talent pool could be the answer for your organization.
Talent sourcing, on the other hand, is a method of generating candidate flow, finding, and networking with prospects eventually aimed at converting individuals into an applicant or providing additional referrals.
So, what is the difference between talent sourcing and recruiting? Many recruiters source talent and candidates for their assigned requisitions through a variety of sources, like LinkedIn and job board databases. Sourcing and recruiting go together, but are two different skill sets and in larger, more sophisticated talent acquisition organizations, these roles are split out into separate functions within the team.
Whereas a recruiter typically manages the recruiting process end-to-end and engages with a sourcer when needed, a true sourcer works a smaller number of requisitions and focuses heavily on building comprehensive search strings, cold calling and networking. The goal is to find the hidden populations of candidates.
A talent sourcer partners closely with the recruiter and hiring manager. Their primary role is to search for great talent, while generating leads and interest in a position. Sourcers use a variety of tools to search for passive candidates.
Talent picks you. Stay tuned for more posts in this series. We would love to hear your thoughts on where hiring technical talent is going in 2019. Book a meeting today and an indulgent holiday beverage is in your near future.