Pre-Internet, job seekers would go door to door with resumes in hand, hoping to be sponsored for the following forty-something years.
Times have dramatically changed and the process of finding a company-candidate fit has become simultaneously simpler and harder. With the birth of the internet, job seekers and talent hunters now have more options available to them. But with increased options come added challenges.
In today’s highly competitive labor market, finding the right people can be difficult.
For starters, hiring is expensive. The Society for Human Resource Management estimates an average cost-per-hiring of $4,129 to fill a position. This includes advertising, interviewing, and training new hires, but it does not include their income until they're autonomous at work.
Not only is it costly, but hiring also takes a long time. On average, takes around 42 days to fill a new position, precious time during which teams are at full capacity and unable to do their best work.
Lastly, employee turnover is the highest it's ever been, 20% higher than pre-pandemic rates. Companies not only have to invest in their hiring pipelines but also in employee retention.
Overall, we can agree that hiring is a time and resources sink. The ability to create an efficient hiring process can make or break a growing business. Arguably, candidate sourcing offers the flexibility to find candidates with the right skillsets and attitude on a friendly budget and timeline.
How Is Candidate Sourcing Done?
As we’ve seen, proactive candidate sourcing is a powerful strategy for finding the right talent for your company. By sourcing candidates, you can find the perfect match for your company's culture, values, and requirements, rather than waiting for them to come to you.
However, sourcing candidates can be a daunting task, especially when it comes to screening and outreaching out to passive candidates who are not actively looking for a new job. To help you navigate this process, we’ve compiled the main steps in the candidate sourcing process so you can start hiring like a pro.
5 Steps to Proactive Candidate Sourcing
Follow these steps to increase your chances of finding the right talent and building a strong and successful team.
- Define your ideal candidate. Before you even start looking for new hires, it's important to have an idea of what kind of person you want on your team. Think of qualifications, experience level, and location, among others. But remain flexible—prioritize core competencies and values over strict requirements.
- Search on the right platform. Depending on the position you’re hiring for, you’ll have an easier time finding the right candidates on industry-specific platforms. The first step is determining which platform(s) will yield the best results. Are they active on LinkedIn? Do they blog? Are they active on social media? For example, if you’re looking for a software engineer, your best bets are looking on AngelList, LinkedIn, or Hacker Earth.
- Communicate your employer brand effectively. Your employer brand is the perception that potential candidates have of your company as an employer. You’re essentially “selling” your company as a good employer, making you more attractive to potential candidates. Some ways you can build your employer brand are by sharing your company’s story, showcasing employee testimonials, and highlighting growth opportunities.
- Personalize your contact attempts. Personalization is key to standing out from other recruiters who may be sending out generic messages. By taking the time to get to know each candidate before making any offers or asking for interviews, you can create a more positive and personalized experience right from the start. This can include researching their background and experiences, tailoring your message to their specific interests and qualifications, and being responsive to their questions and concerns. This way you will increase the likelihood of them accepting an offer to join your company.
- Persuade them to join your mission! Persuading candidates to join your team requires more than just listing your company's benefits and opportunities; it requires a deeper understanding of their goals, aspirations, and what they're looking for in their next opportunity. One of the most effective ways to persuade candidates to join your mission is by listening more than you talk. Take the time to understand their career goals, what they're looking for in their next opportunity, and what's important to them.
Proactively sourcing candidates is a powerful strategy for finding the best talent for your company. By following these steps, you can increase your chances of finding the right talent and building a strong and successful team. Remember, sourcing candidates is not just about filling open roles but also about building a team that aligns with your company's mission and values.
Effortlessly Build Your Dream Team With Pareto
Now you can effortlessly build your dream team with fully customizable candidate sourcing. Get valid contacts, screen resumes, and qualify candidates based on your current needs so you can jump right to interviewing top talent.
With Pareto’s team by your side, you’ll build a team of top talent that will take your business to the next level. Send your candidate sourcing project today.