In today’s digital age, companies have access to a pool of more than forty-one million independent professionals. With unprecedented growth in this labor market, 61% of organizations say they expect to hire more contingent workers in the next three years.
More and more organizations are looking to solve the big question – “What if we can acquire contractors directly?” And the industry is already looking at a significant shift and Direct Sourcing as a solution.
Direct Sourcing is not a new concept; in fact, many organizations have contingent workforce programs that leverage the benefits of sourcing contractors from their curated pool of talent.
But for organizations looking to explore direct sourcing, it’s essential to understand the benefits a program like this brings to the table before they decide to implement it.
Enterprises can post opportunities to source and select contingent workers that fit their needs using direct sourcing tools. Willhire, for example, uses a matching algorithm to pair qualified talent—already in your network and from the platform—with available opportunities, reducing the time managers have to spend reviewing candidates.
This is cheaper and faster than a traditional staffing agency. Direct sourcing reduces the cost of giving contingent workers what they need to start their professional engagement in one place to use internal resources better and minimize the risk of compliance.
Along with your existing employer branding program with direct sourcing, you can tap into the contingent workers market. A good employer branding exercise can increase the number of quality applicants, reduce the cost per recruitment, and help create a differentiated proposition from competitors.
With your direct sourcing tool, you can now extend your employer branding program to contingent workers. Enabling excellent candidate experience to turn candidates into business advocates – ensuring top talent keen to work with the organization.
A curated pool of contingent talent makes it easier to find and engage when required. Enabling organizations with flexibility and allowing the recruiter to function in-house. Engaging with this pool can increase output and higher satisfaction. Overall reduce the time to fill open positions.
Many organizations face challenges while hiring contingent workers with a niche skillset occasionally. But having a curated talent pool of these contract talent makes it much easier to find and re-engage as and when services are needed.
Diversity in today’s world is not just jargon or compliance mandate but also a proven change agent to include people from diverse backgrounds for business growth.
D&I technology in a direct sourcing program will help an organization leverage a diverse contingent workforce’s true potential. Features like talent diversity analytics, measuring diversity stats, diverse talent acquisition channels, etc., are readily available on direct sourcing platforms to step-up talent diversity.
A staffing agency securing top talent might contract qualified people’s services but could be way out of budget, not an ideal organizational fit.
But with direct sourcing keeping it in-house, organizations have more control over the recruitment budget, enabling better planning and budget optimization.
Direct sourcing reduces the time managers spend reviewing candidates, creating a simplified, easy-to-follow process.
Faster hiring also allows organizations to deliver a better candidate experience. A private talent pool available to an organization will enable them to attract and repeatedly engage with contingent workers, allowing them to build deeper relationships and develop trust. In turn, candidates also let their peers know what a fantastic employer they have worked for.
To engage and hire contingent workers, Direct Sourcing can be an excellent strategy for your organization. It can deal with fluctuations in workforce needs during times of uncertainty. Plus giving you the advantage of cost-saving leveraging the talent pool that’s readily available.
Technology plays a massive role in how talent is attracted, screened, shortlisted, and managed. Research and building a robust strategy is the key to reap the benefits of direct sourcing.