What is Candidate Sourcing: Definition, process, and examples

Introduction

A major function of the recruitment process is sourcing candidates. It also happens to be one of the most challenging tasks for recruiters. Waiting for the right candidates to show up without putting any effort does not work anymore. Trying out different approaches to talent acquisition and reaching out to passive and active prospects is the way to go if companies want to build a talent pipeline. But how do you go about it? In this article we will be seeing the meaning of candidate sourcing and how it is used to find talent.

What is Candidate Sourcing? Definition and Meaning

Candidate Sourcing is a proactive approach that recruiters take to identify, engage and build a rapport with potential candidates, before posting the job openings. It is a long-term process where recruiters actively search from candidates to fill present as well as future positions. A successful candidate sourcing process can help develop a reliable, robust pipeline of candidates that they can get in touch with when relevant job vacancies open up.

Why is Candidate Sourcing Important?

Candidate sourcing is one of the most critical elements in the talent acquisition process. Hiring talent by utilizing resources and putting in your valuable time takes effort. One of the biggest reasons why sourcing is important is to engage passive talent. Here are some of the reasons why candidate sourcing is important-

1. Improved quality of hire

Talent sourcing requires a lot of your time, but it is also worth it as you will have a better understanding of your search terms and the role.

• With candidate sourcing you have control over the quality of candidates because here you actively engage with those prospects with the right skills and experience.
• Passive candidates usually want to make an impact on your business and are also less likely to leave the organization early. Their motives are clear; they choose your company for the right reasons and are more likely to be loyal.

2. Reduced time to hire and cost to hire

The average time to make a typical hire takes between 36 and 52 days. But candidate sourcing helps build a relationship much before the need to fill a role rises, which gives a pipeline of pre-vetted candidates you can contact, quickly when something opens up. Sourced candidates are more than 2x as efficient to hire. Naturally, reduced time to fill reduces costs as well.

3. Improved workforce diversity

For companies that are focused on having a diverse workforce, sourcing is critical. With sourcing you take your time to find the best candidates and are not in a rush to fill positions. You are not dependent on referrals, actively seeking candidates etc, all of which can complicate diversity initiatives. When you are filling your pipeline ahead of time, however, there’s time to uncover, engage, and convince underrepresented talent to consider your organization.

4. Builds employer brand

When you actively source candidates, you are more likely to develop a good relationship with them letting them in on information like your brand’s CSR initiatives, personal stories of employees and more. The familiarity of your company instils a sense of trust in candidates, strengthening employer brand. And because word travels, your team’s and organization’s reputations will spread beyond your talent community to people who would not have heard of you otherwise.

What is the Process Candidate Sourcing?

There are different ways of sourcing candidates. It involves researching, contacting, and building relationships and pre-screening individuals who might be a good fit for future or current job roles, forming a talent pipeline.

1. Attract candidates on social media

The right places in a social media like LinkedIn can prove to be a confluence where great minds interact. Examples are LinkedIn groups or reinitiating older conversations you may have had with candidates who may now be eligible.

2. Leverage talent sourcing tools

Candidate sourcing tools like those from the likes of Workday can simplify the process of sourcing to a great extent. Pick from a pool of passive candidates to bring to the screening stages of recruitment.

3. AI for sourcing candidates

Mining through a talent database, especially to people who have registered for job alerts from you at some point in their careers could be a terrific way to get down to talent that could add value to your organization.

4. Incorporate other unique channels for sourcing

When sourcing, do not restrict yourself to just the above methods. You can consider other unique channels for sourcing candidates too, especially if you are not only looking for passive candidates. You can contact passive candidates by email too.

Top Candidate Sourcing Strategies

Here are some of the best candidate sourcing strategies that can help you fill your funnel with qualified talent.

1. Keep your hiring manager in the loop

Make sure you and the hiring manager are thinking on the same lines as to what you are looking for in a candidate. As soon as the recruiter receives a requisition to learn about a role and align on must haves, have a kick off meeting. Decide on the sourcing channels to use with the hiring manager. Review the overall talent pool and determine if the requirements need to be tightened up or relaxed in order to find the right number of candidates.

2. Source using ATS

Sourcing quality candidates will ensure you have gathered pool of them to recruit for future roles. But for many companies, re-engaging candidates is a missed opportunity. Engage candidates that your team has already sourced in the past. To re-engage candidates,

• assess why they were not hired in the first place
• Offer constructive feedback
• Notify them of their application status

3. Use diverse sourcing channels

Candidates may be more receptive to outreach messages on less conventional websites, and profiles on such sites can yield unique information that provides good fodder for personalized outreach.

4. Offline recruitment

Attend job or industry-specific conferences and events or host your own meetups to bring together groups of people you would like to meet. Candidates will be more likely to respond to your follow-up messages after they have had a conversation with you in person.

5. Employee referrals could help you pick the best

A candidate referred by an existing employee could be the titan you need. Once on board, they could be a lasting resource you could trust as much as your employee and turn to for the most challenging of tasks. And do not forget to reward your employees well for their referrals that helped you as you did candidate sourcing.

6. Build an extraordinary talent pipeline

Use AI if you must or if you are convinced that it will bring business gains you cannot achieve otherwise. Source candidates not just for the present roles but also for strategic roles in the future. Plan for any attrition by securing the right candidates to deal with it. In other words, always have a Plan B ready.

7. Build a strong employer brand

A strong employer brand is an incredibly effective recruiting tool: 92% of candidates say they would consider leaving their current jobs if a company with an excellent corporate reputation offered them another role. You can respond to reviews, tell your story, partner with marketing and much more.

8. Network with the domain experts

There is no replacement for a domain expert when sourcing candidates. He/she can give insights into the job role that you would not have otherwise. This is especially true when you are hiring for a small business, and this is a senior position. Keep your prospects close but keep your experts closer.

What are the Examples of Candidate Sourcing?

Sourcing can also include leveraging AI-powered tools to automate the search and identify suitable candidates from databases. Some of the examples are-

• Posting on platforms like Indeed, LinkedIn to attract passive candidates
• Connect with potential candidates through Instagram, Facebook etc
• Ask your current employees to refer qualified candidates
• Leverage customer networks to find candidates
• Attend industry events and host meetups to engage with candidates
• Use AI tools to automate sourcing, screening, and identifying candidates
• Engage with passive candidates by sending direct messages
• Use offline techniques like printing advertisements
• Engage with a recruitment agency like Alp Consulting to help find and source candidates.

What are the Challenges in Candidate Sourcing?

Some of the key challenges in candidate sourcing are-

• Adapting to changes in the talent market include increase in candidate volume on job platforms but harder to find the right one
• Balancing the ease of application with the need to avoid indiscriminate applications
• Attracting top talent in competitive markets
• Skill shortages for specific roles in certain industries
• Vague or unclear job descriptions discourage qualified candidates to apply
• Finding creative and strategic ways to attract and engage passive candidates
• Build a strong employer brand to attract potential candidates
• Overcoming unconscious bias during interviews and screening procedures.
• Using data and analytics to identify and mitigate bias to ensure an inclusive process
• Non-streamline recruitment processes leading to delays in filling positions
• Ensuring that recruitment processes comply with relevant labour and privacy laws can be complex.

What are the Future Trends in Candidate Sourcing?

Some of the key candidate sourcing trends are leaning towards AI powered automation, skills-based hiring, global talent and focus on candidate experience. Here is detailed look at the key trends-

• Use of AI tools for candidate matching resume screening and outreach freeing up recruiter’s time.
• Use of predictive analytics to identify potential talent gaps and predict candidate behaviour.
• Chatbots to handle queries, and provide require information about the company and the hiring process
• A higher focus on skills rather than the traditional approach that focuses on educational qualifications
• Training and development programs to help employees upskill and reskill to adapt to modern technology
• Offering remote work and facilitating hybrid working methods to attract candidates from a global talent pool
• Companies will prioritize creating a positive and engaging candidate experience, from initial contact to onboarding
• Diversity, equity, and inclusion will be a core part of recruitment strategies, ensuring that all candidates have an equal opportunity
• Companies will use data analytics to track candidate sourcing metric like time-to-fill, cost per hire and make data driven recruitment decisions

The fight for top talent is real. The best candidates are in such high demand that its essential to be more strategic if you want them in your organization. With the competition for top-tier talent being so high, its critical for you to find calibre of candidates you need for your organization to succeed. These candidate sourcing strategies can help you fill your pipeline with qualified talent so you can choose the best hire for your team.

Frequently Asked Questions (FAQs)

1. What does candidate sourcing mean?

The meaning of candidate sourcing is actively identifying, attracting, engaging, and building relationships with candidates for present or future roles with an aim to have a pre-vetted pool of candidates to tap into.

2. What is the difference between sourcing and recruiting?

Sourcing is a method of identifying and attracting potential applicants for current or future open positions. Recruiting involves screening, interviews, evaluation, and selection of the best candidate for the position. Sourcing creates a pipeline of potential candidates. Recruiting creates the entire candidate journey.

3. What are the best candidate sourcing tools?

There are many candidates sourcing tools, including Applicant Tracking Systems (ATS), social media platforms like LinkedIn, LinkedIn recruiter, job posting sites, and professional networking platforms. AI-powered search engines, resume databases, and even platforms for employee referrals can also be effective.

4. How do you source passive candidates?

Some of the best strategies to source passive candidates include- leveraging social media, employee referrals, Boolean search techniques, attend industry conferences and events, nurture a talent community, enhance employer brand, implement a data driven approach and personalized outreach.

5. How can AI help in candidate sourcing?

AI sourcing tools search the internet for potential candidates, using parameters like job titles, skills, keywords, and location to find the best matches for your open positions. It streamlines candidate sourcing by automating tasks like searching through job boards and social media, identifying relevant candidates, and even automating communication. This allows recruiters to focus on building relationships with top talent and making more informed hiring decisions.