What is talent sourcing?
Talent sourcing is the process of identifying, researching, generating, and networking with potential job candidates to try to convert them into job applicants. It is part of the broader talent acquisition process of identifying, assessing and recruiting new employees. Talent sourcing is different from recruiting in that it involves actively pursuing and seeking candidates for open or future positions, whereas the focus of recruiting is on filling open positions. In large companies, the sourcing and recruiting roles are often delegated to different people, but in smaller companies, one person usually performs both roles. Having effective talent sourcing strategies in place can help you by creating a pipeline of qualified talent, which you can draw on when you need to fill a position.
Talent sourcing strategies
When it comes to finding quality talent, it’s important to try different approaches. If you’re struggling to find quality candidates for positions at your business, here are 11 talent sourcing strategies that you can try out.
1. Create an employee value proposition (EPV)
Having a well-defined EPV can help you to stand out from the competition and attract quality talent. An employee value proposition highlights the reasons why jobseekers should join your business. It is all the rewards and benefits that you offer your employees in return for their skills, experience and the contributions they make to your business.
Talent sourcing has changed dramatically in recent years—jobseekers today are looking for more than remuneration. A global study by Gartner found that work-life balance is the most important consideration for Australian jobseekers. That’s why an EPV is so important—it gives you an opportunity to highlight the non-monetary benefits you provide.
When you build your EPV, focus on what makes working at your organisation a unique experience for employees. For example, is it your business values, structure or workplace culture?
2. Get creative with promoting your EPV
EPVs commonly take the form of a statement, which businesses communicate through hiring channels, such as their website, social media and job advertisements. To increase your chances of being noticed by the right talent, find creative expressions of your EPV. Try to think like a marketer. For example, you could ask your team members to write blog articles, describing what it’s like to work at your business. To attract attention, it’s important to use visuals as well. Show plenty of photos or videos that tell your story and give jobseekers a sense of your values and culture.
3. Use social media
Using social media is a great way to attract talent. The various social media platforms allow you to promote your business and build a community of followers. It’s also a place where you can advertise available roles and connect with people who might want to join your business. You could upload a post about a job vacancy and encourage your followers to apply directly or tag a friend who might be a good fit.
You can also use your social media channels to communicate your employee value proposition. Show prospective future employees your workplace culture and what makes your business a great work environment.
4. Focus on your strengths
In the competition for talent, large corporations usually have the upper hand over SMBs when it comes to salary and benefits. Rather than trying to match these, focus on what you can offer in your small business that big companies can’t. For example, if you’re a growing small or midsized business, you can probably offer faster and better career progression. Perhaps you can give employees more flexibility in their roles and the opportunity to take on exciting projects. Or it could be your location in the suburbs—there’s a whole market of people who would love to work locally rather than commute to the CBD. There are some areas where it’s almost impossible to compete with large corporations, so focus on the areas where you can outperform them.
5. Have a diverse and inclusive workplace
Building a diverse and inclusive workplace isn’t just good for your employees and your employer brand—it can also help you in sourcing and attracting talent. Firstly, diversity expands your talent pool. There are plenty of diverse candidates who might normally be discouraged from applying for jobs because they think they will face discrimination. Secondly, it can help you to attract Gen Z candidates. A commitment to diversity and inclusion is an important attribute that Gen Z candidates look for when choosing an employer. However, for them, diversity and inclusion are about more than age, religion, gender, race and physical ability. It’s about having a mix of experiences, identities, ideas and opinions and the extent to which these are accepted and valued. Focusing on creating a culture of diversity and inclusion will expand your pool of candidates and help you to attract younger talent.
6. Establish an employee referral program
A great way to find new employees is to ask your existing employees for referrals. They may know suitable candidates from their training programs, universities or colleges, past workplaces or industry events. You can always simply ask your employees if they have any contacts. However, offering an incentive (usually financial, but you could get creative) through an employee referral program may be a more effective way to encourage your employees to refer their contacts. An employee referral program is a good option if you want to hire talent fast. Another benefit is that your new hire will have a head start on getting to know the team and workplace culture.
7. Approach passive candidates
A passive candidate is someone who isn’t actively looking for a new job, but who would be a good fit for an open position in your organisation. Identify passive candidates by asking people in your networks—employees, colleagues, friends, family—for referrals. Rather than contacting the person directly, ask your mutual contact if they can facilitate an introduction. By doing this, you will establish a sense of trust before you start telling the passive candidate about your business and the available role. Even though the person isn’t currently looking for a job change, they might be persuaded by what you have to offer. If not, they might think of your business if they decide to leave their employer in the future.
Related: Recruiter Checklist for Successful Candidate Outreach
8. Keep candidates warm
If you’re hiring for a role and it comes down to a close decision between two outstanding candidates, the candidate who you don’t chose could still be a good option for future positions. Make them a ‘warm’ candidate and keep them in your talent pipeline. Do this by being strategic when you let them know they didn’t get the job. Make sure you tell them how impressed you were by their experience and skills and that you think they would be a great fit for your team. Then ask if they are happy for you to contact them about open positions that you have coming up. If the person agrees, you’ll have a warm candidate in your talent pipeline. This is especially useful if you’re planning to hire for a similar role in the near future.
9. Attend industry events
Events, such as conferences, trade fairs, job fairs, award shows and local events provide a fantastic opportunity to network and gain contacts who could become future hires or who could put you in touch with the right people. When you’re networking, be authentic, ask meaningful questions and listen. Avoid using too many buzzwords or too much technical jargon. After the event, don’t forget to make a note of your interactions and follow up with anyone who you think showed potential for future roles.
10. Consider remote workers
The explosion in remote working has opened up a world of new possibilities for employers. If you run a business that allows people to work from anywhere, for example a tech or e-commerce business, why not look for remote workers in other parts of Australia or even overseas? By casting your net wider, you’ll have a greater chance of finding the right hire. You could also discover local talent who are looking for flexible work.
11. Invest in graduates
If you’re struggling to find someone with several years of experience, hiring and upskilling a recent graduate could be a good option. People who have recently graduated from university or trade school may lack experience, but with some training, they could become an asset to your business. The investment in upskilling them might be worthwhile when you factor in the lower rates of pay for employees with limited or no experience, as well as the huge benefits for your business of a talented employee who is looking to progress their career.
