Sourcing




Sourcing is the use of one or more strategies to attract or identify candidates to fill job vacancies. It may involve internal and/or external recruitment advertising, using appropriate media, such as job portals, local or national newspapers, social media, business media, specialist recruitment media, professional publications, window advertisements, job centers, or in a variety of ways via the internet.

Alternatively, employers may use recruitment consultancies or agencies to find otherwise scarce candidates—who, in many cases, may be content in the current positions and are not actively looking to move. This initial research for candidates—also called name generation—produces contact information for potential candidates, whom the recruiter can then discreetly contact and screen.

Referral recruitment programsedit

Referral recruitment programs allow both outsiders and employees to refer candidates for filling job openings. Online, they can be implemented by leveraging social networks.

Employee referraledit

An employee referral is a candidate recommended by an existing employee. This is sometimes referred to as Referral recruitment encouraging existing employees to select and recruit suitable candidates results in:

  • Improved candidate quality ('fit'), Employee referrals allow existing employees to screen, select and refer candidates, lowers staff attrition rate; candidates hired through referrals tend to stay up to 3x longer than candidates hired through job boards and other.). The one-to-one direct relationship between the candidate and the referring employee and the exchange of knowledge that takes place allows the candidate to develop a strong understanding of the company, its business and the application and recruitment process. The candidate is thereby enabled to assess their own suitability and likelihood of success, including "fitting in."
  • Reduces the considerable cost of third party service providers who would have previously conducted the screening and selection process. An op-ed in Crain's in April 2013 recommended that companies look to employee referral to speed the recruitment process for purple squirrels, which are rare candidates considered to be "perfect" fits for open positions.
  • The employee typically receives a referral bonus, and is widely acknowledged as being cost effective. The Global Employee Referral Index 2013 Survey found that 92% of the participants reported employee referrals as one of the top recruiting sources for recruiting.
  • As candidate quality improves and interview to job offer conversion rates increase, the amount of time spent interviewing decreases, which means the company's employee headcount can be streamlined and be used more efficiently. Marketing and advertising expenditures decrease as existing employees source potential candidates from the existing personal networks of friends, family, and associates. By contrast, recruiting through third party recruiting agencies incurs a 20–25% agency finder's fee – which can top $25K for an employee with $100K annual salary.

There is, however, a risk of less corporate creativity: An "overly homogeneous" workforce is at risk for "fails to produce novel ideas or innovations."

Social network referraledit

Initially, responses to mass-emailing of job announcements to those within employees' social network slowed the screening process.

Two ways in which this improved are:

  • Making available screen tools for employees to use, although this interferes with the "work routines of already time-starved employees"
  • "When employees put their reputation on the line for the person they are recommending"

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