Sourcing in recruitment is the quest for talent acquisition. It's all about where and how you seek out potential candidates with the skills and expertise your company needs. It could be setting the stage for recruiting, and laying the groundwork for finding qualified candidates who are the perfect fit for your organization.

The goal is to connect with candidates even before they become active job seekers, nurturing relationships that could benefit both them and your company in the long run. 

Here, we’ll go over everything you need to know about sourcing.

Understanding recruitment sourcing

What is sourcing? 

In the recruiting arena, sourcing is akin to the act of mining — delving into the vast market to unearth gems, or in this case, top-notch candidates. This approach not only fills your immediate hiring needs but also builds a long-term talent pool for the future. 

The main goal of sourcing is to identify and engage with potential applicants, often before a position becomes available. 

By tapping into various sourcing strategies, such as leveraging LinkedIn, referral programs, job boards, and premium candidate-finding tools, you bolster the recruitment process. 

A healthy talent pool ensures you're not left scrambling when it's time to hire.

To sum it up, an effective sourcing strategy will help you:

• Build a talent pipeline by storing a database of potential candidates.

• Reduce time-to-hire by having pre-vetted applicants on hand.

• Improve your quality of hires: More options lead to better choices.

Sourcing vs Recruitment

Sourcing is the process of identifying and attracting potential candidates for a job opening. It involves researching, finding, and engaging with individuals who possess the necessary skills and qualifications.   

Recruitment, on the other hand, is the broader process of filling a job opening. It encompasses everything from sourcing candidates to selecting and hiring the best fit for the role. This includes screening resumes, conducting interviews, and extending job offers.   

In essence, sourcing is a part of recruitment, with recruitment involving a wider range of activities.

TL;DR:

Sourcing: Finding potential candidates.   

Recruitment: Hiring the best candidate from the pool of applicants.   

Effective sourcing techniques

In the competitive landscape of talent acquisition, diversifying your approach can greatly improve your ability to discover and engage with potential candidates.

Here are a few strategic methods that can bolster your efforts.

1. Leveraging online platforms

Online platforms have become indispensable tools for recruiters. Platforms like LinkedIn are great and using an AI-powered talent sourcing engine like Juicebox AI is even better: you can tap into your desired demographic and create a targeted sourcing pipeline. 

Other lesser-used ways are online job boards such as Indeed, where active job-seekers submit resumes and recruiters search for potential matches. 

Pro tip: Try PeopleGPT by Juicebox AI, an AI search engine that understands exactly who you're looking for and will pinpoint your ideal candidate using natural language. 

2. Developing a strong employer brand

Your employer brand is pivotal in attracting top-notch talent. It reflects your company's identity, culture, and values, and it should resonate with the kind of candidates you want to attract. 

Consider showcasing company news, employee testimonials, and career development opportunities through your website and social media platforms to build an authentic representation of your work environment. 

Remember, candidates are looking for more than just a job; they're searching for the right cultural fit and career progression opportunities.

3. Building relationships through networking

Networking isn't just about attending events; it's about creating and sustaining relationships that could lead to promising referrals. Participate in both professional networking and industry networking events to boost visibility and build a web of connections.

Here are some suggestions:

• Get involved in professional networks relevant to the industries you're recruiting for – there are a ton of LinkedIn groups you can find in your industry.
  
  

• Encourage your team to partake in networking events, as they can become a source of employee referrals.

Pro tip: Start local and touch every base before expanding your recruitment activities.

Identifying and engaging with candidates

Identifying and engaging with the perfect candidates is the cornerstone of successful recruitment. 

To truly excel, you have to delve deeper than qualifications and understand the intrinsic qualities and motivations of ideal candidates, coupled with communication and cultural fit. 

Here are a couple of ways you can identify and engage with your ideal candidate:

Creating ideal candidate personas

Imagine your ideal candidate. List the skills, qualifications, and experience they might have. This is more than a job description; it's about knowing their career aspirations, what type of person they are, and even the type of technology they prefer to use.

• Skills: Itemize specific, role-related abilities.
  Example: Proficiency in Python for a software developer role.
  
  

• Qualifications: Degrees or certifications necessary.
  Example: CPA for an accountancy position.
  
  

• Experience: Past job roles and industry exposure.
  Example: 5+ years in digital marketing for a senior marketing manager.

Employing this method lets you tailor your outreach messages and appeal more to both active job seekers and those who are considered passive candidates.

Outreach strategies and communication

Now, think about how you approach and speak to these candidates. Engaging with candidates means crafting personalized outreach messages that resonate with them. 

Consider their possible current job situation, and use databases to keep track of previous interactions. 

Here's a structure you might use for an outreach message:

1. Introduction: A brief and engaging hello.

   • Hi [Candidate Name], I came across your profile and…

2. Highlight: Why they stand out.

   • Your impressive experience with [Skill/Project] caught my eye.

3. Value Proposition: What's in it for them?

   • We offer [details about job perks/work culture].

4. Call to Action: Encourage a response or action.

   • Would you be open to discussing how your talents fit with our team?

Approach them with no other reason than getting to know them, their job, and career aspirations rather than always going in for the hard sell – this will pay off in the long run. 

Top metrics for sourcing

To effectively measure the performance of your sourcing efforts, consider tracking these 5 key metrics:

1. Source of Hire: Determines which channels (job boards, networking platforms, referrals, etc.) yield the most qualified candidates.

2. Time-to-Fill: Measures the efficiency of the sourcing process.   

3. Candidate Quality: Assesses the suitability of sourced candidates for the role.

4. Sourcing Cost-Per-Hire: Calculates the cost of finding and attracting a candidate through specific channels.   

5. Candidate Pipeline: Tracks the number of candidates at each stage of the sourcing funnel.  

FAQs

What are the various methods used in recruitment sourcing?

Your recruitment efforts can be improved through multiple methods, such as using online job boards and leveraging the right sourcing platforms. Professional networking and referrals are also options for discovering potential candidates.

How much time should I spend on sourcing?

As a rule of thumb, spend at least 4 hours per week sourcing candidates who aren’t actively looking for a job.

Create your ICP and continuously add and update relevant candidates to your pipeline. 

Adjust your sourcing time based on the urgency of the roles you’re working on. Hard-to-fill roles should always take the back seat over easier roles you’re familiar with. 

How can I implement sourcing metrics in my recruitment process?

Follow these steps and revert back to this: 

1. Identify key metrics

Determine which metrics align best with your recruitment goals. Prioritize metrics based on the specific challenges your team faces.

2. Collect your data

Implement a system to track and record relevant data for each candidate. Use advanced tools like PeopleGPT.

3. Set goals

Establish clear benchmarks for each metric based on industry standards or your company's historical performance. Set realistic and achievable goals for improvement.

For example: Add 100 quality Python engineers to the database per week. 

4. Analyze

Regularly analyze sourcing data. Generate reports to share insights with the recruitment team and hiring managers. Use data to optimize sourcing strategies and allocate resources effectively.