Given the challenges that exist in recruitment today there are a lot of advantages to having a strong employer brand that you can leverage in the talent market, with 72% of talent will consider employer branding before applying according to a LinkedIn 2021 Employer Brand Statistics study. Using this to connect with candidates is the basis of direct sourcing, which provides a whole new range of opportunities for organizations to find and engage ideal people for a broad spectrum of roles. So, what’s involved when it comes to using direct sourcing to enhance your brand equity?
First, let’s define direct sourcing
This is not, as many have assumed, where an organization goes out into the talent market and directly recruits people to the business. Instead, it’s an outsourced recruiting and engagement service that requires an experienced partner like Volt. A dedicated team is provided by the partner to the business to enable direct access to the labor market, leveraging existing brand equity and helping to enhance it. This is in contrast to other partner-led approaches to recruitment, such as temporary agencies, which can result in a far less consistent approach.
How does direct sourcing enhance your brand?
There are lots of ways in which direct sourcing will have a positive impact on your brand equity, including ensuring that every experience a candidate has with your brand in a recruitment context is consistent and high quality. The many benefits of direct sourcing translate clearly into advantages that shore up brand equity, from shorter recruitment times to smoother onboarding and connecting with candidates that are likely to be a better fit with the business in the long-term. In addition, there are many obvious benefits for the business, including when it comes to productivity, better use of resources and making savings on costs when compared to the traditional staffing supply chain. Getting this wrong could be costly. A US Bureau of Labor Statistics projected that a wrong candidate could cost an employer as much as 30% of thew first year salary of the employee. Using a partner to source the best skilled talent is beneficial to enhance your organizations branding.
A more imaginative approach to managing the talent supply chain
Direct sourcing offers the opportunity to re-imagine the way that the talent supply chain operates within a business, especially when it comes to contingent workers. For example, there may be many different potential sources of talent that have been excluded from more traditional models, such as small service providers, consulting firms or workers who come from online staffing solutions. Direct sourcing provides a way to optimize the opportunities available. It is often a particularly effective solution where hiring volume is high and geographically concentrated and/or there are consistent job descriptions and candidate requirements.
Why opt for direct sourcing?
It effectively allows a Managed Service Provider (MSP) to better fulfill the needs of your business when it comes to having access to high quality talent, in the right place, at the right time and at the right price. It’s not only a way to help find options for existing open roles but also to boost brand equity and build up proprietary talent communities that create long-term resource options for the business.
Direct sourcing is increasingly becoming a choice for smart businesses that are looking to enhance the equity in their brand - and optimize this as a tool for future hiring too.
The success of direct sourcing recruitment relies heavily on your organizations ability to build and communicate a strong and authentic employer brand. Direct Sourcing is typically carried out by a specialist Managed Service Provider (MSP) which is well placed to advise on the fundamentals of todays talent landscape with out going through a supply chain.
Volt partner with industry leading third-party technology vendors to deliver talent solutions that allow our clients to grow and curate talent pools by leveraging their brands. Get in touch today to see how Volt can help support leveraging your organizations brand power in developing a strategy to build a high performing talent community.