How To Create Direct Sourcing Success?
Attracted Temp Talent @10x
Today 90% of talent start their job search online either actively or passively. Attract talent from 100 organic and premium talent traction channels online which include job boards, social media networks and deeper niche skill networks.
Built Vetted Private TalentPool
Growing and vetting your talent pool is a combined function, Leverage today's self assessment technology to increase the value of your talent pool which will reduce your time to hire by 10x
Launched Employee Referrals
The talent you want is right under your nose. Your employees & contractors already know the best from their network to fit-in. 29% of TA programs are driven by referrals. Combine modern day referral technology to put your employee referrals work.
Leverage Your Employer Brand
You already have a talent brand that can engage talent better for your current and future temp talent needs. Simply put your employer branding to work for you.
Curate Faster
The modern day TA assessment and screening tools combined with ML/AI enables to identify the right talent faster. Push you temp talent screening to next stage.
Increased Engagement
The shortest un-employment rate doubles your challenge of time to hire. Put your private and public talent pools on auto-pilot engagement with AI/ML where the talent subscribes to work for your future and current opportunities.
THE 5 GOLDEN STEPS FOR DIRECT SOURCING
IN CONTINGENT WORKFORCE PROGRAMS
ASSESS
There are multiple models for direct sourcing. You will need to answer several questions to choose an ideal model which fits your needs based on current program model and maturity level.
For example:
• Do you need to implement this for the whole program or only a particular job category?
• Based on whether you are a MSP driven or self managed program, who would curate the talent, how to curate the talent? Is there a need to co-ordinate with your HR Team, why? And how?
• Do you need a RFP?
• What vendors and partners are more suitable for your program to make this initiative successful?
WillHire has helped several customers take through this journey of assessment to identify the relevant model to customize and launch.
BUILD
Identifying the right model and all the relevant attributes, get you ready to launch. Identifying your MVP (Minimal Viable Product) to launch and measure is crucial. While building an RPF/RFI or market research to identify your direct sourcing provider(s), you build out your total strategy.
• Internal Buy-in
• Employer Branding Strategy
• Talent Attraction Modelling
• Talent Pool Approach
• Talent Curation Process & Owners
• Talent Engagement Models
• Onboarding & EOR/Payroll Services
• Accomodating for cost of acquisition cost
MEASURE
The value of your Talent Pool as good as your curation. Implementing a curation model that is applicable to your program with modern day self assessment tools and automation. Establish KPI’s which will enable to track your program success.
• Recruitment Budget Spend
• Spend by Source
• Total Applicants by Source
• Organic VS. Paid
• Cost per Applicant
• Time to Hire
• Total Members in TalentPool (Growth by Week)
• Total Referrals & Cost of Referral
• Jobs Filled through Direct Sourcing Vs. Supplier Sourced
• Supplier Bill Rate Vs. Direct Sourcing Bill Rate Comparison
OPTIMIZE
Through the initial build and measure, you will learn ton of lessons and start looking to optimzing to eliminate unnecessary steps in the proces to ensure better talent experience and improving the key metrics. In order to prepare for scale you need to ensure the right mix of tech and process is in place. Drive your sourcing as a marketing function setting up the right engagement triggers driven by machine learning/ AI. This can include building self-assessment, faster curation models, ninche talent traffic generators, increasing applicant conversion rate and impacting time-to-hire metrics.
SCALE
The goal of direct sourcing in contingent workforce program is to reduce cost and supplier dependency. Reaching 100% direct sourcing model is a target and it is a step-by-step journey to get there by increasing your program share. Setting up everything on Autopilot and keep growing your talent pool while taking your program to best maturity level.
