There are more job openings today than there has been in nearly 20 years. However, most recruiters know that the unemployment rate is below 4%, leaving the battle for talent as one of the most challenging yet important priorities of a growing business. Some of the most serious challenges for small and growing businesses are the culture of reactive hiring, the time to hire ratio that culture creates, and the lack of a dedicated sourcing staff that could have avoided the dilemma in the first place.
In a reactive hiring culture, a job opening is communicated to the recruitment department, which in turn starts posting job ads on job sites teeming with similar ads. With a very small percentage of the workforce even available, both the turnaround time and the quality of candidates are heavily impacted.
In today’s blog, we tackle reactive hiring and the benefits of creating a proactive recruitment process.
Time to hire
With such a competitive talent acquisition landscape, hiring periods can easily double or triple in length. Additionally, if your business only relies on passive hiring methods like job boards, the available position will likely only be seen by those who are either unemployed or are actively trying to exit their current situation. This ultimately limits your overall access to applicants as you are incidentally targeting only a very small percentage of the talent pool. When targeting this very limited population while competing with other companies hiring for more positions than ever before, your qualified candidates are going to be bombarded by multiple offers, which can extend your negotiation stages. Additionally, the need to fill positions can create a pressure for your hiring manager to rush the process and settle for candidates that they would otherwise not be interested in. The choice here usually comes down to settling for suboptimal talent or waiting for months for the right applicant to apply. Both of these options will negatively impact your company’s momentum.
But the solution is relatively straight forward.
Dedicated sourcing staff
Human Resource departments can be extremely busy units. They have their hands in many business processes simultaneously, and recruitment often becomes a delegated effort, falling to whoever is free at the moment. Because of this, there is sometimes no true owner of the recruitment process. And even if there is a dedicated hiring staff, they can only do so much while employing a reactive recruitment strategy.
On the other hand, dedicated sourcing teams can scour LinkedIn, reexamine applications in your applicant tracking system (ATS), and routinely post job ads for highly repeatable positions to keep the queue full at all times. In addition to gathering large sums of qualified resumes, your sourcing team can proactively screen candidates and introduce your company so that your hiring manager can request prequalified applicants as soon as a position opens up.
Imagine the impact on turnaround time if there was a dedicated team who only searched for qualified professionals within proximity to your business. These same employees could constantly screen candidates and be proactive in making sure that your company is well known among the professionals that mattered.
Now, if for logistical or economic purposes you cannot create a dedicated sourcing team, you still have options. There are companies that can build an offshore solution of sourcing professionals. These companies can consistently source, screen, and interview candidates on a 24/7 basis. This will allow your internal recruitment team to focus and optimize on the larger recruitment process. Lastly, due to the locations of some of these companies, you could reduce your sourcing staff cost by 30-40% or more. These companies help in overall business productivity and cost efficiency and will empower you to establish a proactive recruitment culture.
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