zoominfo pixel

What is Candidate Sourcing? Overview of Talent Sourcing

What is candidate sourcing?

Candidate sourcing meaning: Candidate sourcing involves taking a proactive approach to finding the most qualified people to fill open job positions. Talent sourcing should include the use of different platforms, like job boards and social media to attract both active and passive job seekers. Your company will need the following for successful talent sourcing:

  • Dedicated resources.
  • Efficient technology.

There have been considerable changes in the talent market, within the last decade. Previously, the strategy for talent sourcing was to post adverts in various publications and see who responded. This approach meant that only candidates who were actively looking for work were targeted. Companies had to be reactive, instead of proactive with recruitment sourcing methods.

The popularity of the internet, in particular social media changed candidate sourcing techniques. Today, talent sourcing is not only limited to people who are actively seeking work. The right candidate sourcing techniques should reach people who immediately want to find work and also those who are content in their current job, but are still willing to explore new opportunities.

Traditionally, talent sourcing required expert knowledge, with a great deal of experience of finding the right candidates. This approach gave large companies the advantage when it came to talent sourcing. However, advances in talent sourcing solutions have levelled the playing field and enabled smaller companies to compete to attract the most suitable candidates.

Whether you operate a franchise, or run a large or small business, the following candidate sourcing techniques will improve your chances of securing the most suitable candidates. The tips below can be used if you are sourcing contract workers or employees.

Create a talent sourcing strategy

Talent sourcing is one of the most important aspects of your business. The right hire can improve productivity, your bottom line and contribute to a positive work culture. On the other hand, sourcing the wrong candidate can lead to negative consequences, which include wasted time and loss of business. Therefore, strategic recruitment sourcing methods are important to help you to be clear about the type of person you need to join your business.

A talent sourcing strategy is also required if you run an on-demand business, which is associated with a high turnover rate. Unfortunately, it is likely that employees in this type of business will move on within a short time. However, you will still need to specify the type of on-demand worker that will provide the best customer service while in the job.

The following should be included in a talent sourcing strategy:

Definition of the role for talent sourcing

You should create a detailed description of the role, including all of the tasks required to do the job. The tasks should be filtered according to importance. Firstly, list tasks that are non-negotiable, followed by tasks that are nice to have. Ranking tasks in order of importance will help you to make a quick decision about unqualified candidates.

Establish a candidate persona before engaging in talent pool sourcing

A candidate persona is a list of all the characteristics, traits and skills your ideal candidates will have. This is a fictitious representation of what you would like in your ideal candidate. The closer the candidate is to your persona, the more likely it is that they will be suitable for the job.

Work out the number of vacancies for your talent sourcing strategy

The number of vacancies you require for a role will impact your talent sourcing strategy. If you are a high-turnover business, you may need to source a large number of candidates at one time. It is generally perceived that a low sourcing consultant to candidate ratio would provide better results. However, with the right talent sourcing solution, one recruiter can manage nearly 2,000 candidates without compromising on quality.

[Read the real story of how one recruiter is able manage nearly 2,000 while reducing their time-to-hire!]

Choose the best job title for talent sourcing

When sourcing candidates, you need to think about all of the titles that will be used to describe the same job. This is because different companies refer to the same job using unique titles. You should include all possible job titles that you can think about to ensure that you find as many qualified candidates as possible.

Take time to find the right candidate regardless of your recruitment sourcing methods

Although time to hire is a very important metric, you should still allocate the right amount of time when sourcing candidates. The first candidates may be suitable but people who apply later may be a better fit for your company. Using talent sourcing solutions or various recruitment sourcing methods will help to eliminate candidates that are unsuitable for the job.

Use your applicant tracking system (ATS) as a talent sourcing solution

If you use an ATS or another type of talent sourcing solution that keeps a record of people who have applied previously, you should use this platform to source candidates. Some candidates may have been declined previously because there were other applicants who had a small advantage. Ideally, your ATS will have a powerful search function to function as a candidate sourcing technique. The benefits of searching your ATS for candidates who have already applied, is that you know they are interested in your company. Additionally, you can save time and costs in relation to advertising externally.

Develop a pipeline for talent pool sourcing

Being understaffed has a negative impact on your business. To reduce the likelihood of being understaffed, you should use talent pool sourcing continuously so that your pipeline is always full. A continuous talent sourcing pipeline is of particular

importance for companies that deal with gig workers. Although you may not have any current vacancies, having a full pipeline will ensure that you are ready to source and recruit, as the need arises.

Continuous talent pool sourcing also helps to embed candidate sourcing into the culture of your company. Hiring managers should always be proactive when looking for the best candidates, irrespective of whether there are open vacancies. Candidates can be added to your pipeline if they are currently in employment and are not ready to move on. You can use message automation to nurture the relationship with candidates in your pipeline, so that when they are ready to move on, your company will be their first choice.

Track and analyze talent sourcing metrics

You need to set sourcing targets for your business. These targets could be based on past experience or knowledge of your industry. Your recruitment sourcing methods should be informed by data that has been collected over a specified period of time. There are different types of talent sourcing metrics that can be tracked, depending on your company’s needs. One of the most important types of metrics is where your qualified candidates come from. You should also be aware of your time to hire for candidates. It is recommended that you aim to reduce your time to hire without compromising the quality of the candidates.

[Find out how to reduce your time-to-hire rate by 50%!]

There are a number of different talent sourcing metrics that can be tracked in order to make improvements to the sourcing and recruitment process. Fountain provides a comprehensive analytics feature to help you track and monitor the data that is important to your company.

With Fountain, you can track the following metrics in one convenient dashboard:

  • Stage metrics – Get a visual representation of the delays that cause bottlenecks in different stages of the sourcing and recruitment process.
  • Applicant conversion – Optimize your funnel in order to improve the conversion rate at different stages.
  • Interview attendance – Find out the best days and times for optimal interview attendance.
  • Hire rates – Get an understanding of how many people need to apply to reach your hiring objectives.‍
  • Drop-off insights – Discover the reasons that applicants are rejected from the hiring process.

Utilize the best talent sourcing solutions

Implementing the best practices in relation to talent sourcing will give you limited results if you do not make use of the right technology. Your ATS and talent sourcing solutions should use automation to help you to improve the most important sourcing and hiring metrics. Fountain’s practical use of automation helps companies to manage a high number of

candidates, while saving time. Automation helps you to provide a personal experience to qualified candidates, without neglecting applicants that are not a correct fit for the job.

Fountain is your pragmatic partner in talent sourcing and is also suitable for companies that already do their sourcing and recruiting in-house. Additionally, Fountain is also a practical option if you do not have the budget to use an external hiring agency.

Fountain makes a positive difference to sourcing candidates in the following areas:

Finding candidates for your talent sourcing 

Fountain’s sourcing service – Boost, has taken away the need to post your job vacancies on different platforms or pay an external agency to do this for you. With Boost, candidates are sourced and presented to you for selection of the next step of the hiring process. This efficient process includes posting your job vacancy to free job boards with a few clicks. You have the choice of widening your candidate search by allocating a budget. Fountain will then post your job to the most appropriate paid job platforms.

In effect, Boost gives your company an external hiring agency service and results without the high agency fees. In addition to saving money, you can also save time as there is no need to log in, check and select the best candidates from different platforms.

Fountain’s Boost provides you with a constant stream of candidates that you can review in one simple to navigate dashboard.

Request a demo today for a personalized tour of how we can streamline your candidate sourcing, save you money and cut down on the time spent on finding the ideal candidate.

Managing candidates from your talent sourcing efforts

Now that you have realized that there is an easy, efficient and cost-effective way to find the best candidates with Fountain’s Boost, the rest of the recruitment process should be equally as seamless.

Your ATS or talent sourcing solutions should remove the need for using manual processes, like spreadsheets. Managing your recruitment process manually involves storing different information in different systems. This approach will cause frustration and confusion, which may become apparent to the candidate.

Your ATS should be capable of managing the recruitment process from sourcing, hiring and onboarding.

Fountain has the features to manage the full sourcing and recruitment process.

Here are just some of the functionality that Fountain contains:

  • Workflows and stages – You can allocate different workflows to every job you post.
  • Screening functions – Carry out background checks and other pre-employment screening functions.
  • Team management – Control the level of access that different team members have in relation to various parts of the sourcing and recruitment process.
  • Integration – Integrate seamlessly with other tools, like electronic signature software and pre-employment screening services to provide a complete recruitment service.

Communicating with candidates from your recruitment sourcing methods

The timeliness and the way you communicate with candidates will have an impact on how your company is perceived. Every candidate should receive an acknowledgement after they have submitted an application to your company. This should be the case even if you are hiring thousands of candidates at one time. Delays in contacting candidates or substandard communication can be reported on company review sites, like Glassdoor. Job seekers may then be reluctant to apply for jobs at your company based on these reviews.

Fountain uses automation to help you to effectively communicate with as many candidates as you need by SMS. The messages are fully-customizable, so you can communicate with candidates in your company’s voice to remain on-brand. Your candidates will continue to receive communication from you throughout the hiring process.

Fountain lets you take your communication with candidates even further with video interviews. Your candidate can record an interview so that you can get a better feel for how they communicate, before you invite them to an in-person interview.

With the popularity of the internet and social media, using the right tools to source your candidate is no longer an option.