Finding a suitable candidate is more challenging than ever before owing to today’s competitive job market. So, many businesses are exploring new and innovative ways to source candidates beyond conventional talent hunting. This blog post explores the innovative candidate sourcing strategies that can help companies bring top talent.
1. Harnessing Social Media
While LinkedIn remains a leader in professional networking, other platforms also offer a great candidate sourcing opportunity. Social media platforms like Instagram, Facebook, Twitter, or even TikTok are becoming more relevant for company branding and talent acquisition.
“92% of employers use social media to recruit talent, and 86% job seekers use it for job hunting”
CareerArc.
Example: A tech company can share videos on TikTok showcasing their innovative projects and team culture, attracting a younger, tech-savvy audience who resonates with the brand.
2. Leveraging Automation and AI
Automation and AI are revolutionizing every industry in today’s world and the same goes for the recruitment industry. AI-enables recruitment tools can read resumes and profiles to identify the potential candidates who are best fit for the positions. In addition to this, these tools can also analyze candidate’s online activity such as their engagements or comments on any platform. This capability of AI-powered tools allows employers to gauge the interest and expertise of candidates in a precise manner.
“It is estimated that AI can reduce hiring costs by 30% and time-to-hire by 50%”
Example: A company using AI tools to analyze social media platforms to identify potential candidates based on their interest in social media may result in a 30% increase in qualified applicants.
3. Employee Referral Program
Employee referral programs proved to be a very effective and promising candidate sourcing strategy. By offering extra perks and rewards on referral programs, companies can encourage employees to actively participate in the hiring process.
“Referred candidates are 55% faster and 25% more profitable for any company”
EmployeeReferrals
Example: A company can launch a referral program where employees can earn points for each successful referred hiring. The points can be redeemed for various rewards and perks.
4. Networking and Community Engagement
Networking and engaging with the local community are some of the most valuable candidate sourcing techniques. To establish strong networking and community engagement a company can sponsor events, and participate in conferences and industrial exhibitions.
“70% of all jobs are found through networking”
US Bureau of Labor Statistics
Example: An engineering company can sponsor a local hackathon, providing resources and training to participants. Consequently, engineering companies can identify and recruit talented engineers from the event.
5. Creative Campaigns and Job Postings
Conventional job postings can be tiring, boring, and easily overlooked. So, creating creative campaigns like videos, infographics, and other interactive materials can stand out and attract candidate’s attention. In addition to this, running precise and targeted ad campaigns on social media is quite helpful in reaching the right audience.
“Job Seekers are 2.5 times more likely to apply to a job if the employer actively manages their employer brand”
Glassdoor
Example: A startup in the USA created a video job posting showing a day at their company. The video went viral, attracting thousands of applicants.
6. Talent Pools and Communities
Building a talent pool or a talent community involves a database of potential candidates, even if they are not actively searching for a position. To keep a connection with these individuals through newsletters, or exclusive content, a strong relationship can be nurtured.
“60% of the candidates in talent pools are interested in learning about new job opportunities”
SmashFly
Example: A healthcare company maintained a talent pool of nurses who had previously shown interest in the company. When new positions rolled in, healthcare companies reached out to this pool resulting in quick hiring.
7. Let Recruitment Agencies Do the Heavy Lifting
Doubtlessly, the candidate sourcing strategies discussed above can a daunting, time and money-consuming task for businesses. Implementation of these strategies requires a tremendous amount of money, time, effort, and expertise. For many organizations, managing these activities can be overwhelming.
So, this is the place where a professional recruitment company can make a difference. Companies can enjoy access to a vast pool of professionals and talented resources by leveraging the expertise of a recruitment company. Recruitment companies are well-versed with all these strategies to find qualitative candidates. Furthermore, these companies handle everything from screening, interviewing, negotiating, and ensuring that you get the best talent while saving your resources and valuable time.
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