Businesses today are looking beyond traditional hiring models to better their growth prospects. The shift in talent acquisition strategies is evident with the large-scale recruitment of consultants, contractors, or freelancers over full-time employees.
Flexible solutions are what global staffing agencies like High5 excel at. Contingent workers with their specialized skills facilitate your company to meet project-specific demands. By focusing on building a substantial pool of contingent staff, you gain access to quality talent.
What is Direct Sourcing?
The method of building a talent pool for your company without the intervention of a third party refers to direct sourcing. Identifying candidates with potential directly from the labor market allows you to hire them when the need arises instantly. Unlike your permanent employees, this section of your workforce only gets paid for the work assigned and completed.
Your entity’s ability to engage and re-engage such top talent via direct sourcing depends on your business size, recruitment budget, and project requirements. Straightforward processes and transparent dealings are central to a fruitful association and generate interest among prospective candidates.
How Does Direct Sourcing Cut Recruiting Time and Cost?
By properly managing your direct sourcing strategy as industry specialists at High5 recommend, you shorten the time and costs involved in hiring the best fit. Instead of focusing on earning an ’employer of choice’ reputation, market your company as a ‘client of choice.’
Adopting this wider strategy makes independent workers eager to associate themselves with your brand. You save on costs incurred on vendors who otherwise assist you in identifying appropriate talent. Moreover, actively engaging with your labor pool allows you to fill vacancies in record time.
When you treat your contingent workforce as supportive partners, they deliver quality results and guarantee higher returns. Leaning on a growing population of high-quality contractors allows your entity greater staffing flexibility.
While working with independent talent, your company has a role from start to finish. Whether it is sourcing, engagement, compensation, or management and re-engagement, putting a centralized system in place is beneficial.
Strategy for Direct Sourcing
Your venture can boost its bottom line when existing employees actively advocate and refer future talent. Compellingly position your brand as adding value to the career graph of every workforce category you target. Doing so enables your entity to attract the best talent.
The different strategies your company can consider to source talent directly could include:
- Encouraging existing employees to tap their networks for potential independent talent
- Using the internal recruitment resources at your organization’s disposal by sifting through resumes submitted
- Reaching out to your HR business partners for suitable leads
- Creating a centralized engagement program open to all employees to help streamline your company’s direct sourcing initiative
Leadership support and ongoing internal communication across levels are critical to building an independent talent pool. More than a third-party agency, the employer can deliver a seamless experience for the candidate with a committed and focused approach.
How Does The Organization Benefit From Direct Sourcing?
A direct sourcing strategy benefits your organization in multiple ways, as enumerated here:
Facilitates Greater Control over Your Recruiting Budget
Not having to depend on placement agencies to source contingent workers saves you on paying service fees. Besides avoiding this significant expense, you can also identify candidates that fit your budget and organizational culture. All these aspects give you greater control over how you spend your allocated budget for recruitments.
Quickens Your Hiring Process
When you have a pool of talented people whom you have identified and engaged with all along, filling your available vacancies does not take time. Dipping into this interested pool of candidates associated with your organization in the past cuts down your hiring time.
Thanks to the latter, you deliver an enhanced candidate experience. Starting the hiring process from scratch is very time-consuming, and direct sourcing simplifies the exercise of identifying the right person for the job.
Retains Niche and Quality Talent
Certain projects may demand niche skills, and your diverse pool of freelance workers supplies such talent on a need basis. Your brand benefits from those who contribute productively to its success as they further the tradition of building on your industry reputation.
As long as your venture provides self-employed professionals with fulfilling work and remunerates them proportionately, they remain loyal. Whenever an opportunity arises again, you can re-engage their services with ease.
Potential independents prefer collaborating with brands that match their work ethics, aspirations, and career goals. Direct sourcing gives you the power to engage, attract and hire top contingency talent.
Partner with a dynamic platform that offers innovative talent strategies to manage contingent labor.
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