A 2012 Aberdeen Group study found that 52 percent of surveyed HR executives reported that they struggled to source “enough qualified candidates to fill available openings.” The same study found that only 18 percent of companies could use data needed to connect sourcing efforts to profitability. These findings perfectly underscore the need for companies to carefully consider all aspects of the process of sourcing technology and measure their impact.
This is due to the fact that tomorrow’s technology will differ from today’s. New jobs will be created, others will become obsolete and candidates will need to be evaluated against new criteria. All of this will impact the way we evaluate sourcing technology from an integration, administration and capability standpoint. Ultimately, HR professionals will need sourcing technology that connects them to candidates.
And, a common pitfall that technology buyers make while purchasing or licensing technology is procuring it because it is marketed well. If you are the technology buyer, here are a few questions that ManpowerGroup Solutions professionals recommend asking before investing:
What sourcing resources do we already have? Are they fully optimized?
How do we stay current and buy only the products that add value to our business?
Does our current sourcing strategy maximize our employer brand?
How does the brand impact the sourcing strategy?
How do we calculate risk and ROI when it comes to new technology?
What is the right mix of current and new technology?
What is a good planning cycle for technology innovation?
If you think through these questions, you are more likely to make better technology decisions. Rather than a long-term, point-in-time decision, our experts recommend an approach that maximizes existing resources while leaving room to explore new technologies. In other words, the strategy for sourcing technology must be agile enough to adapt to rapid changes in both the talent marketplace and in recruiting innovations. Here are a few strategic business solutions from one of the most reputable employment agencies in Edmonton for foreign workers that help employers outsource technology smartly:
Many businesses – especially those with more complex or matrixed organizational structures – do not have a complete picture of what technology is already available in-house. This is often the case when recruiters work in varying business lines and geographies or recruit for different skill sets. Without fully understanding what technology is already deployed, companies risk duplication and unnecessary expense. ManpowerGroup Solutions regularly conducts assessments of our clients’ technology to identify the opportunities to optimize existing systems. We invest time and resources to understand how new technologies differ from existing products and how they can give our clients a sourcing advantage. Consult our skilled solutionists to identify specific areas of growth for your organization and find innovative ways to optimize your infrastructure capabilities.
How you use technology to advance your sourcing strategy is strongly linked to employer branding. All companies need to make sure that their technology provides the desired brand experience. Some companies are masters at this, but all companies need to pay attention to the link between sourcing talent and employer branding. Your customers and candidates are often one and the same. The key to sourcing the right technology is to ensure that each candidate has a positive experience so that even if they are not hired, they will continue to be loyal customers and have a positive feeling about the brand.
Consider this example for a keener insight. A global food and beverage retailer determined that a loyal consumer spends on average $15,000 on its products over the span of 20 years. If 20 percent of “customer candidates” for every 1,000 of their job openings had a negative experience and were lost as consumers, it would result in a loss of $8.7 million in future sales.
The recruiting process is full of opportunities to reinforce a positive client brand and the right sourcing technology can significantly enhance it. But, using any technology is a two-way street. Just as companies expect candidates to be familiar with the technology, candidates expect potential employers to use certain platforms and technologies. Simply put, if your tools are outdated, your company runs the risk of missing out on qualified candidates.
The best technology tools are only effective in the hands of recruiters who know how to use them. Companies with highly successful sourcing efforts report the best recruiters are innately curious and passionate about finding great people and matching them to the right positions. Recruiters use technology, but they don’t need to be tech experts. What matters is that they have the skill set and aptitude to embrace new opportunities, think creatively and be early adopters of new technology. No matter the technical comfort level, the good news is that a lot of the learning is at low or no cost (such as free or low-cost webinars, “how-to” blogs or product demonstrations). The key is to find and support recruiters who are passionate about applying new learning to their work. These are the qualities that cannot necessarily be taught.
Some of the most effective sourcing platforms can be inexpensive. The key is to plan for an appropriate mix of technology. Consider conservative approaches—whether they are software-based, subscription models, or any number of offerings—as well as experimental efforts. Some leading employers recommend an 80/20 budget mix of the tried-and-true versus innovative opportunities. This allows HR leaders to have some freedom to try new approaches. As an added bonus, it sends the message that the company is comfortable with experimentation.
When it comes to technology, serial dating may be better than marriage. Technology changes constantly. Some of the best innovations are short lived. Be comfortable with that. The most innovative companies are not afraid to fail. They believe trial and error are part of an effective plan. Willingness to try new things also says something important about company culture. As one recruiter put it, “We won’t be able to attract talent if we’re constantly afraid to try new things.” Some companies love to be early adopters. These employers partner with developers to pilot new kinds of technology. It is a great way to experiment and it enables the recruiters to be the first to learn a new product. These companies are often willing to test out the latest tools, e.g. hosting a new social media platform. They may or may not find candidates. Either way, there is value in the exploration.
Your sourcing technology strategy can provide recruiters with the freedom to think differently and leverage technology in innovative ways. For example, one company encouraged employees to use their own sourcing channels to refer friends. The process was gamified – essentially delivered as a competition – with bonuses and even candies for referrals. Recruiters received referral messages via Twitter and Facebook and each referring employee became a potential source of ready-to-be-leveraged leads.
This is an example of a simple, but effective tactic. The message is clear: lose the stereotypes. The notion that the only good ideas are those that have succeeded in the past does not apply. The age of technology and innovation calls for thinking outside the box. Willingness to experiment can position an employer at the forefront of new technologies, particularly as it relates to social media. This is not lost on candidates, who take note when companies do things differently. The result can be improved candidate attraction, especially among younger workers.
The market is saturated with technologies to support candidate sourcing and it continues to grow. Increasing workforce mobility and scarcity of skills mean the stakes to find the right talent are raised. With technology promising multiple ways to achieve your objectives faster, cheaper and more efficiently, the challenge of choosing the best technology to address your specific needs becomes more daunting. An effective sourcing technology framework takes into account not only the newest technology, but the right technology mix to meet your company’s unique sourcing objectives.
In today’s uncertain environment of shifting demographics and evolving in-demand skills, employers need to act swiftly and creatively to engage the most sought-after talent. A strategic framework for identifying sourcing technology is a business imperative, especially for organizations that consider diversity an essential vertical of their recruiting strategy. Consulting employment agencies in Edmonton for foreign workers ensures that this strategy is executed effectively and makes sure the technology aligns with business objectives, enabling organizational agility and, ultimately, the successful targeting of candidates.