Direct sourcing is becoming a crucial part of the talent acquisition strategy. It involves developing a private talent community of contingent workers that companies can quickly identify and communicate with for temporary contract positions. Direct sourcing allows companies to find the talent they need that have a great interest and awareness of the company’s employment brand because these candidates have formed a relationship with the company’s brand through relevant communications. As today’s workforce continues to change, experts believe that direct sourcing will prove to be a talent sustainability engine that will be very important in the workforce management landscape of tomorrow.
Companies use direct sourcing to prioritize talent curation and known populations, such as interns, referrals, alumni, and retirees. The best way to use direct sourcing is by making sure candidates are ready to work, are engaged, have the skills the company needs, and include those who are new and are currently looking for work whether actively or passively. Talent pools should be maintained continuously to ensure they remain relevant and continue to meet the company’s talent needs. Companies can actively engage with talent pools through newsletters, job alerts, events, social media platforms, forums, and professional networking opportunities.
Direct sourcing is more than just simple convenience. It’s a dynamic solution to issues like talent shortages, cost savings, and employment expenses. If companies do not confront talent shortage issues, this could lead to $8.5 trillion being lost as unrealized revenue by 2030. Currently, new hire pay is approximately 9% greater than before, meaning we need cost-effective recruitment strategies, and direct sourcing is looking to be a good one with more than 90% of businesses deriving cost savings from their direct sourcing solutions.
With increasing need in the labor market for faster hiring and talent access, direct sourcing provides several benefits to the situation. Besides providing higher quality candidates, quicker hiring cycles, and the power to create a better candidate experience, direct sourcing can also help companies improve their employer brand, build productive relationships with talent, and create more diversity in the candidate pool. Direct sourcing is a very helpful tool for companies looking to stay relevant in today’s workforce while helping companies find talent they need quickly and efficiently.
