Sourcing

What Is Sourcing?

In any sector, the first step in the hiring process is sourcing, during which the business starts actively seeking new employees to fill open positions. It signifies the very first step in the process of obtaining information about possible applicants, such as names, academic and professional backgrounds, and professional titles.

HR specialists search for possible job candidates as part of the sourcing procedure. These may include both passive (those who are not seeking a new job right now) and active (people who are actively trying to join a new firm) applicants. HR frequently searches employment portals, social media platforms, associations, and other places for applicants as part of the sourcing process.

What Are The Types Of Sourcing?

Passive Sourcing:  In passive sourcing, recruiters get in touch with potential job seekers who aren't actively looking for work but could be curious about rewarding employment options.

Active Sourcing: When recruiters interact with job seekers who are actively seeking employment, this is known as "active sourcing."

Direct Sourcing: Direct sourcing is the practice of choosing candidates for a specific position and recruiting them directly from recruiters as opposed to using job boards or any other type of third-party employment platform.

What Is The Process Of Sourcing?

Although the specifics of resource sourcing might differ from organization to organization, the majority of recruiting departments follow these four fundamental steps:

• Formulating a sourcing strategy and plan: This entails identifying people that suit the company's culture and the open or upcoming openings well. This phase could also involve figuring out exactly where sources will look for candidates.
• Implementing the sourcing strategy and plan: Recruiters locate and connect with the qualified prospects outlined throughout the planning phase. It could take the form of interacting with individuals on social media, contacting and speaking with potential hires, going to events, or looking through alumni and trade school lists.
• Evaluating the talent pool: Once a respectably sized group of candidates has been assembled, recruiters quickly evaluate the list to identify which applicants they believe would best match the needs of the organization and carry out the responsibilities of a particular job.
• Passing qualified applicants via the talent pipeline: After recruiters have evaluated their list for the greatest talent, they pass their potential prospects on to those in charge of the talent pipeline, who then compile a smaller list of those judged qualified to move forward in the recruiting process.

The sourcing process is finished here, and each prospect will now be thoroughly examined until a hiring choice is made. The remaining steps of the process include recruiting, onboarding, and interviewing.

Sourcing Strategies

• Examine a database of candidates

The internal hiring process is launched using an applicant tracking system (ATS). In addition to automatically publishing job descriptions, an ATS keeps track of each applicant that applied for the position. A candidate database that is always accessible for viewing, evaluating, and searching contains all of the information, including name, state, zip code, email, and resume. Starting a search in the system improves the relationship with previous prospects while saving time and money.

• Make candidate personalities to help you decide where to hunt for talent

A candidate persona is a fictitious depiction of the ideal job applicant for a particular post in your firm. Candidate personas are often developed by recruiting managers and contain the ideal candidate's desired skill set, job experience, educational background, location, and communication style.

Making candidate personas benefits in sourcing since it gives recruiters a clearer sense of the type of person they are trying to locate and where to seek them.

• Utilize Employee Referrals

Referral-based recruiting is another popular hiring method that many hiring managers employ. Many businesses advertise a referral scheme wherein workers may be compensated with a bonus upon successfully referring a candidate.

The hiring manager might encourage current staff to suggest qualified applicants for available positions. Employee recommendations are viewed as a cost-effective strategy by many recruiting managers. Businesses may also empower current workers to apply for new positions.

• Organize a Meet & Greet

A wonderful strategy to find prospects is to attend in-person events when you can. If you can interact with someone in person, you can offer a better candidate experience. Additionally, you'll have the chance to present potential employees to your business culture, which frequently makes the difference between you and your competitors.

Candidates can learn more about your business and employee perks when you meet them in person.

• Create a Powerful Employer Brand

It takes time, money, and strategic planning to build and expand an employer brand, but it may also lead to business success.

A smart place to start is by making sure that the business website and external marketing materials are consistent, as well as that the social media profiles are updated often. Employer brand may be strengthened by:

• Creating job postings that feature the goal statement, colors, and logo of your business.
• Whether you plan to hire an applicant or not, you must respond to every application. 
• Offering advantages that are significant to employees (and making them known).
• Ensuring that your careers page is simple to locate.
• Streamlining the application process.
• Connect job posts to your website, social media, and other branding initiatives.

Sourcing Vs. Recruitment

While sourcing and recruitment are different, they work well together. A successful recruitment effort is made possible via sourcing.

The discipline of sourcing in talent acquisition is concerned with finding, evaluating, and engaging potential applicants for positions.

"Recruiters" is the usual term for people who specialize in sourcing. Recruitment is the process of assisting candidates through the selection process, negotiating offers, and, to some extent, onboarding. While sourcing has progressively but certainly become a specialist area, some firms employ recruiters who handle both sourcing and recruitment. Reduced hiring expenses and time-to-hire can be achieved by optimizing these two processes.

Conclusion

Sourcing is a stage in the recruiting process that takes place before applications are checked, or interviews are arranged, in which talent experts look for and interact with possible applicants to fill existing and future available opportunities.

HR specialists utilize a variety of methods to find applicants. Effective recruiting practices, greater retention rates, and good applicant experiences during the hiring process may all be attributed to a solid sourcing strategy.