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5 Key Steps in Creating a Sourcing Strategy | Hello Talent

| 02/16/2017 2:44 PM

Five Key Steps for Your Recruitment Sourcing Strategy

 

A long term plan relating to talent sourcing is integral to creating sustainable recruitment processes within your organization. The more thought out and polished your approach to sourcing is the deeper and better your hiring pipeline will be. In turn, you’ll be able to create a sustainable, strategic recruitment process rather than frantically jumping to fill vacancies as they arise.

These benefits are available to businesses and organizations of all sizes. Regardless of how large or well known your company is, a properly developed plan can help you edge out the competition in a crowded market while also solving a wide range of recruitment challenges. To help you maintain a competitive edge here are five crucial steps to the build an effective recruitment sourcing strategy:

1) Identify Your Goals

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Your talent sourcing strategy should be derived from your overall business plan and long term company goals. This is the very first step in identifying the future employment requirements of any business, and is a crucial component of sustainable recruitment sourcing strategies. By knowing what your company wants to achieve and when/how it plans to do so you can ensure that you are not only looking for the right talent to meet those needs, but you’ll be able to plan your hiring pipeline to ensure people come on board right as you need them.

For instance, you’ll need to take into account whether offering relatively low or average salaries with a training and development plan to develop younger talent is best, or if a high salary and/or generous bonus plan for highly skilled and experienced candidates is a better approach. Once you’ve identified skill levels you need you’ll also need to work together with other stakeholders to determine how many employees will be needed at what times. The more clearly aligned your strategy is with company goals the more effectively you’ll be able to plan and the more easily you’ll be able to request the resources needed to achieve your goals.

2) Designate Specific Sourcing and Recruitment Needs

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Sourcing and recruitment, like many other aspects of HR, can sometimes struggle in gaining internal support and approval. In creating your strategy be sure to carefully define exactly what you will need to get it done. Once you’ve done this, present it to both management and other stakeholders and gain their commitment and support. Doing so will allow you to spend your time executing your strategy rather than fighting for resources.

3) Define the Talent You Are Targeting

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There are a variety of ways to identify and define the types of talent you are going to source and recruit. You can base it on specific skill sets, personas, academic backgrounds, broad candidate descriptions, internal versus external hires, and more. Regardless of what criteria you use, the more detailed the profile is the easier it will be to prepare for it. In some instances you’ll be able to build your pipeline in advance, before the vacancy has even gone live.

4) Know Where and How to Source

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The actual work of sourcing and recruiting serves as the culmination of the hard work that has gone into your strategy. If you’ve done things right you’ll start to see the dividends be paid out, allowing you to quickly and easily target (and hire) the right candidates. When it comes to the sourcing itself, understanding where the talent is now and where it is likely to be in the future is key to keeping your strategy sustainable. Which networks do you need to use? What’s the best way to approach candidates? Knowing this will help you work faster and more effectively.

Hello Talent is the ideal tool to support your sourcing strategy. Use the browser extension to source candidates from any website, then work in talent pools to aggregate their information to determine how to approach them, and finally work with your team to manage each candidate once the recruitment process has begun. Create your free account today!

5) Set Checkpoints and Conduct Analyses

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The final component of an effective sourcing strategy is incorporating the ability to review and improve it. Set checkpoints (based on dates or key events) where your team will review how things are going. In conjunction with that, determine what key metrics you will need to measure in order to determine the effectiveness of both your strategy and how you have executed it. By making continuous improvement a core part of your strategy you’ll ensure your team is able to be constantly improving.

Creating and implementing a sourcing strategy can demand time and resources you may not feel you have, but by making the effort you’ll save yourself a lot of time in the long run and position your team to deliver talented candidates at a faster rate and with less wasted effort.