About July 20 2022 Jul 20 2022 by Paul Athy
Components of a Successful Sourcing Strategy

Much has been written about how difficult it is to find top talent these days – especially in high-demand industries such as IT, although that’s hardly the only area of concern. We keep having this conversation because the hiring challenges are very real. And the inability to attract the right people – not to mention in a timely manner – impairs a company’s current operations and future growth.

With so much at stake, you need a hiring strategy that can get the job done.

Sourcing Is an Outbound Activity

You know that old adage about leaving no stone unturned? It should be the guiding principle of your sourcing strategy. You have to work the funnel in all areas and get creative about looking in new areas. Certainly you have inbound candidates, those who respond to your job postings.

But it’s your other strategic actions that drive those responses and, more importantly, uncover top talent who will probably never see your ad:

  •         Internal outreach

This is the work your own TA person or team does every day to build awareness of your company as an employer and to promote specific job openings.

  •         Internal referrals

Tap into your internal networks. Employees all know different people, personally and professionally, who might be interested in a move to your company – or at least interested in accepting an initial overture. Whether employees directly refer someone or simply provide their contact information, this is so much better than making cold contacts.

Your goal is to build a pool of high-probability candidates, so keep working to narrow that funnel. As a bonus, these individuals may also serve as another referral source.

  •         External outreach

This work is handled by an outside sourcing agency, either as a stand-alone effort or in conjunction with your in-house team.

Passive Candidates Are Gold

They are not overtly looking and not necessarily interested in even considering another offer. Still, no one stays at a single job for their entire career anymore. Reaching out to passive candidates to establish a relationship could benefit both of you.

So make a point of meeting passive candidates. Think of it as an information exchange, keeping in mind that your goal is two-fold -- selling the desirability of your company and inspiring interest in the position you hope they will consider. If they show any interest, then you can proceed as appropriate knowing that you and they are on the same page.

And speaking of being on the same page, a well-orchestrated sourcing strategy succeeds because everyone involved understands that they need to be in “sell mode” whether they’re prospecting for passive candidates or responding to inbound candidates. Even those who are actively looking don’t have to choose your company or job. Be prepared to share job descriptions with candidates but, just as important, be able to articulate your company’s value as an employer and the job’s value to that specific candidate.

Contemplate Your Competition

Your competitors, within your own industry or among companies trying to hire similar talent, can be an excellent source of top passive candidates. For example, which companies use the same technology you use (or want to adopt)? Is there someone within their ranks who would be just-right to join your organization? Experienced TA professionals and sourcing agencies always consider resources like this.

Be Flexible

Most of today’s candidates expect flexibility when it comes to the working environment. But flexibility starts with sourcing. It shows the candidate that you respect and value them as a person as well as a potential future business asset. If the candidate is working – and the best ones generally are – arrange to speak with them at their convenience, not yours. That may mean when they’re on a break, at lunch or after-hours.

Write Clear, Concise Job Descriptions

Clarity and brevity are appreciated by everyone. However, the less-is-more approach also speaks to your company’s flexibility. Job descriptions with long lists of requirements automatically weed out people who could be your best new hire ever, because you’ll never get to meet them. When you keep must-haves to a minimum, you open doors to candidates who have tangential but relevant expertise and those whose accomplishments outweigh their years on the job.

Stay in Touch

Be prepared to describe your entire hiring process up front, once a candidate expresses interest. Skills tests, drug tests, interview timing, etc. vary from one job and company to another. The process can be complex, especially for high-value jobs. If you want the candidate to do a ride-along, make a presentation, or there are other unusual elements to the process it is vital to let them know what to expect and when.

And Always Follow Up

This is crucial during the process because timing can kill any deal. Regardless of your timeframe, communicate closely with the candidate every step of the way. If it turns out they aren’t your final top pick, follow up right away to let them know. This is common courtesy. And you never know if one of them may be a future applicant or the source of a fantastic referral.