As organizations around the globe continue to navigate through the workforce challenges caused by the COVID-19 pandemic, many companies are searching for new strategies to adapt to the changing environment. Both employers and employees needs have been changing frequently over the past few years, and it's up to employers to stay vigilant and pivot as these unexpected changes occur. One of the biggest challenges organizations have been facing is a fluctuating demand for workers. It's essential that they have a plan in place to seamlessly keep up with this demand while still providing a positive experience for candidates.
One way to stay ahead of this fluctuating demand is by having ready access to a qualified pool of talent to fill gaps during a demand surge. For this reason, the talent acquisition strategy that has become increasingly popular is direct sourcing. With a direct sourcing solution, a best-in-class contingent talent pool will be created through continuous candidate engagement and these individuals can be quickly and seamlessly hired as they are needed. Having his immediate access to talent is a crucial factor in allowing companies to overcome one of the most daunting workforce challenges that the pandemic has created.
How Direct Sourcing Will Help You Achieve Your Workforce Goals
Direct sourcing essentially takes the best in talent acquisition practices and applies them to contingent hiring. It's a talent acquisition strategy focusing on efficiency; it reduces the amount of time it takes for companies to seamlessly hire individuals as soon as the demand arises.
Utilizing this solution significantly increases the success of passive recruiting. Finding and engaging with qualified candidates when your organization is not actively hiring is a great way to build a strong talent pool so that you are not overwhelmed when an unprecedented hiring surge occurs.
Direct souring has been gaining additional traction recently because companies have realized that now, more than ever, they need to hire the right talent to hopefully increase retention rates. Since organizations are having a difficult time building their workforces right now, retaining best-in-class talent is essential to their success. To help ensure your company is hiring the right people, a direct sourcing solutions ensures you are bringing in the right talent to fit your unique needs on a continuous basis.
An additional benefit of direct sourcing is that it can improve your temporary to permanent hire conversion rate. Since this solution focuses on searching for candidates that fit your exact needs, these new hires often excel in their roles which leads to their permanent hire.
And the direct sourcing process doesn't stop once an individual is hired - a direct sourcing partner will also manage your contingent workforce if you choose. Having a trusted partner manage your contingent workforce will allow your internal teams to focus on more strategic business objectives while the talent experts handle the rest. Their management expertise will guarantee your contingent workers have a positive employee experience, which also leads to increased retention rates.
Technology Is Key
In an increasingly volatile talent market, finding new ways to innovate will help your business remain competitive. Leveraging proprietary technology to source candidates is one way to enhance your talent acquisition strategy. By using automation, machine learning, AI, etc., in conjunction with your direct sourcing strategy, your organization will be able to achieve its talent goals in a more efficient manner. Having advanced technology in place will allow you to source the best candidates configured to your needs much quicker than any individuals could curate a talent pool without these tools.
Technology can be entirely customized and programmed to target the best talent for you, sometimes in a matter of seconds, which saves you time and money. Reducing the amount of time it takes to identify, hire, and onboard talent is essential to the overall success of any workforce. And the technology that your direct sourcing partner utilizes can go further than helping with recruitment; it can also help with the management of employees. It can be set up to automatically communicate with workers, onboard them, and pay them. These are all key factors affecting employee satisfaction, which in turn affects retention rates.
With all of the benefits included above, implementing a direct sourcing solution in this volatile market should be at the top of every company's mind. An innovative solution like direct sourcing is one of the best ways a company can fill and deploy quality talent very quickly due to the talent pool that has already been created. Implementing a direct sourcing solution will benefit your organization's talent pool, thus benefitting your bottom line.