Ten Tactics Every Smart Sourcer Should Use

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Ten Tactics Every Smart Sourcer Should Use

  1. 1. Smart Sourcing PlaybookTen Tactics Every Smart Sourcer Should Use
  2. 2. CORPORATE LEADERSHIP COUNCIL® CLC RECRUITING™ Research Analyst Manisha Gandhi Consultant Emily Harding Senior Directors Brad Adams Thomas Handcock Managing Director Donna WeissNOTE TO MEMBERSThis project was researched and written to fulfill the research request of several members of The Corporate Executive Board Company and as a result may not satisfy the information needs of all membercompanies. The Corporate Executive Board Company encourages members who have additional questions about this topic to contact the Member Support Center at EXBD_Support_HR@executiveboard.comfor further discussion. The views expressed herein by third-party sources do not necessarily reflect the policies of the organizations they represent.PROFESSIONAL SERVICES NOTECLC Recruiting has worked to ensure the accuracy of the information it provides to its members. This project relies upon data obtained from many sources, however, and CLC Recruiting cannot guarantee theaccuracy of the information or its analysis in all cases. Furthermore, CLC Recruiting is not engaged in rendering legal, accounting, or other professional services. Its projects should not be construed asprofessional advice on any particular set of facts or circumstances. Members requiring such services are advised to consult an appropriate professional. Neither The Corporate Executive Board Company nor itsprograms are responsible for any claims or losses that may arise from any errors or omissions in their reports, whether caused by The Corporate Executive Board Company or its sources.CLC Recruiting, Corporate Leadership Council© 2012 The Corporate Executive Board Company. All Rights Reserved. RR2171211PRO 2
  3. 3. SMART SOURCING PLAYBOOK Why Smart Takeaway The 10 Tactics Sourcing? ResourceCLC Recruiting, Corporate Leadership Council© 2012 The Corporate Executive Board Company. All Rights Reserved. RR2171211PRO 3
  4. 4. Do the Following Challenges Sound Familiar? Sourcer/Recruiter “I don’t have time to build “I have too many “My prospects don’t “The skills I source for are Challenges pipelines.” unqualified applicants.” convert into applicants.” hard to find.” • High requisition load • Application volumes • Candidates decline • Strong competition for rising offers talent Common • Recruiting function Reasons short-staffed • Alarmingly poor • Difficult to keep • Passive labor market applicant quality prospects in the pipeline • Unstable hiring • Specialized hiring engaged requirements • Unclear hiring needs requirements • Changing candidate behaviors and preferencesCLC Recruiting, Corporate Leadership Council© 2012 The Corporate Executive Board Company. All Rights Reserved. RR2171211PRO 4
  5. 5. Smart Sourcers Focus on IntelligenceCommon Sourcing Styles Research-Focused Relationship-Focused Social Media-Focused Mass Market-Focused Intelligence-Focused (Smart Sourcing) • Invests heavily in • Focuses heavily on • Invests more in shaping • Posts openings in • Tailors sourcing efforts generating lots of prospect relationship employment brand highly visible places to meet the specific names building perceptions through needs of each position • Prefers scalable social media • Diligently screens every • Typically uses a softer channels over more • Systematically captures application approach for initial • Prefers social media niche channels key intelligence from outreach channels for initial each prospect • Exhausts all potential • Quickly and efficiently outreach interaction sources • Invests in keeping posts newly opened prospects warm for • Uses online networking requisitions • Uses data to select • Relies on expert future jobs more heavily to source sources that yield quality Boolean search skills • Uses a consistent leads hires for a given position • Spends more time sales pitch to convert • Has deep industry building rapport and trust • Is first to adopt new prospects when sourcing • Deliberately provides knowledge with prospects online recruiting tools leads transparent, accurate information about the • Encourages prospects to • Teaches others how to • Relies on initial phone career opportunity take extra time to use social recruiting screen to qualify discuss job with friends tools promising applicants • Actively seeks to and family influence strategy, not just fulfill orders Smart Sourcing: An Opportunity for Impact The best sourcers and recruiters today are using smart sourcing techniques—they gather and apply valuable sourcing intelligence to improve outcomes of sourcing efforts.CLC Recruiting, Corporate Leadership Council© 2012 The Corporate Executive Board Company. All Rights Reserved. RR2171211PRO 5
  6. 6. Focusing on Intelligence Increases Your Impact Smart Sourcers have higher quality shortlists and higher business influence as compared to other sourcers Common Sourcing Styles Research-Focused Relationship-Focused Social Media-Focused Mass Market-Focused Intelligence-Focused (Smart Sourcing) 64% Smart sourcers have higher qualityPercentage of 43% shortlists compared 40% 42%Sourcers With to other sourcers. 29% High-Quality Shortlists 93% Almost all smart sourcers have high business influence, while only 60% or 60% 60% 58% less of otherPercentage of 50% sourcers do.Sourcers WithHigh Business Influence CLC Recruiting, Corporate Leadership Council © 2012 The Corporate Executive Board Company. All Rights Reserved. RR2171211PRO 6
  7. 7. Ten Tactics for Moving to Smart Sourcing Requisition-Driven Intelligence-Focused (Typical) Sourcing (Smart) Sourcing Tactics 1 Don’t treat all requisitions equally • Master the sourcing • Get high-quality process 2 Influence requisitions you source for candidates faster 3 Help candidates filter themselves for jobs 4 Source where other sourcers don’t • Use channels that bring • Target sources of in lots of applications 5 Target channels that offer quality, not quantity high-quality candidates 6 Take advantage of events at your talent competitors • Build strong 7 Emphasize your organization’s differentiated strengths • Engage only qualified relationships with all prospects prospects 8 Focus engagement efforts on truly-interested prospects 9 Earn prospects’ trust before fostering relationships 10 Use Web 2.0 for high-touch, scalable engagementCLC Recruiting, Corporate Leadership Council© 2012 The Corporate Executive Board Company. All Rights Reserved. RR2171211PRO 7
  8. 8. Smart Sourcing Tactics Help Solve Your Challenges Sourcer/Recruiter “I don’t have time to build “I have too many “My prospects don’t “The skills I source for are Challenges pipelines.” unqualified applicants.” convert into applicants.” hard to find.” • Don’t treat all requisitions • Don’t treat all requisitions • Help candidates filter • Don’t treat all requisitions equally equally themselves equally • Help candidates filter • Influence requisitions you • Take advantage of events • Help candidates filter themselves source for at your talent competitors themselves • Take advantage of events • Help candidates filter • Emphasize your • Source where other Tactics organization’s at your talent competitors themselves sourcers don’t differentiated strengths • Focus engagement efforts • Source where other • Focus engagement efforts on truly-interested sourcers don’t • Focus engagement efforts on truly-interested candidates on truly-interested candidates • Target channels that offer candidates • Use Web 2.0 for high- quality, not quantity touch, scalable • Earn prospects’ trust engagement before fostering relationships • Use Web 2.0 for high- touch, scalable engagementCLC Recruiting, Corporate Leadership Council© 2012 The Corporate Executive Board Company. All Rights Reserved. RR2171211PRO 8
  9. 9. SMART SOURCING PLAYBOOK Why Smart Takeaway The 10 Tactics Sourcing? ResourceCLC Recruiting, Corporate Leadership Council© 2012 The Corporate Executive Board Company. All Rights Reserved. RR2171211PRO 9
  10. 10. Focus your efforts disproportionately on the 1 Don’t Treat All Requisitions Equally most important requisitions.• Focusing on all requisitions equally is not only Impact of Prioritizing Sourcing Requests on Quality of Shortlist time-consuming, but also reduces your efficiency and Sourcers who prioritize quality of shortlisted 11% their sourcing efforts are candidates. more effective than those who do not.• Use needs definition meetings and conversations with peers to discuss the long-term value of completing each requisition. 3% No Prioritization Prioritization Based on Importance Percentage of Sourcers Percentage of Sourcers Who Treat All Who Prioritize Based Requisitions Equally on Importance 69% 31%Intelligence You Should UseFor This Tactic Get StartedOrganization Intel Intelligence Value Questionnaire Talent needs of organization Use this questionnaire to find out the intelligence value of completing each of your requisitions. Business goals Organizational changes Source: Smart Sourcing, CLC Recruiting, 2011 CLC Recruiting, Corporate Leadership Council © 2012 The Corporate Executive Board Company. All Rights Reserved. RR2171211PRO 10
  11. 11. Smart sourcers use evidence when collaborating 2 Influence Requisitions You Source For with hiring managers to understand and test assumptions about hiring needs, and influence Impact of Effective Needs Definition Phase on Recruiting Outcomes requisitions as necessary.• Setting expectations with hiring managers upfront in the needs definition phase improves the Needs Assessment Onboarding Definition and Selection likelihood of sourcing higher quality candidates and decreases their time to productivity. Can increase• Using evidence (i.e., relevant quality of hire 10.6% 7.0% 9.6% data and expertise) by… strengthens your voice in meetings with hiring managers, Can decrease time enabling you to firmly influence to productivity 4.2 Working Days 3.7 Working Days 3.3 Working Days how hiring needs are defined. by…Intelligence You Should UseFor This TacticOrganization Intel Talent strategyMarket Intel Employer brand position Events at talent competitors Get Started Workforce trends Using Evidence to Influence Hiring Mangers: Evidence Documentation Template Business trends Use this template to document evidence about positions you recruit for regularly, and use thisProspect Intel evidence to influence hiring needs. Preferences Source: Achieving Operational Excellence in Recruiting, CLC Recruiting, 2005 CLC Recruiting, Corporate Leadership Council © 2012 The Corporate Executive Board Company. All Rights Reserved. RR2171211PRO 11
  12. 12. By conveying accurate information about the job, 3 Help Candidates Filter Themselves for you can encourage candidate self-selection, Jobs thereby reducing the number of unqualified applicants. New Hire Rating of the Accuracy of Information Provided by the Organization Percentage of New Hires• Almost 40% of new hires do not believe they got accurate information about the job, often leading to “buyer’s remorse”; this presents a huge opportunity to improve Somewhat information accuracy. Accurate or• When writing job postings, Less 37% emphasize details about day-to-day responsibilities and 63% describe qualities of the ideal Accurate or Nearly 4 in 10 new hires Very Accurate do not believe they got applicant to help candidates accurate information filter themselves. about the job in advance.Intelligence You Should UseFor This TacticMarket Intel Employer brand position Get Started Workforce trends Checklist for Writing Clear, Compelling Job PostingsProspect Intel Use this checklist to create accurate job postings that compel only qualified candidates to apply. You Preferences can also click here to access the e-learning module. Obligations Source: Driving to Win-Win Selection Decisions, CLC Recruiting, 2008 CLC Recruiting, Corporate Leadership Council © 2012 The Corporate Executive Board Company. All Rights Reserved. RR2171211PRO 12
  13. 13. By uncovering undervalued pools of high-quality talent, 4 Source Where Other Sourcers Don’t smart sourcers avoid cut-throat competition for high-quality candidates. Impact of Using Undervalued Talent Pools Percentage of Sourcers Who Use• Targeting sources that other on Ability to Generate Leads Undervalued Talent Pools recruiters overlook can improve your ability to generate high-quality leads.• Assess undervalued talent 20% pools to identify and select those pools with high-quality 24% talent able to meet your job Impact on Ability requirements. to Generate Leads Targeting Undervalued Talent PoolsIntelligence You Should UseFor This TacticOrganization Intel Organizational changesMarket Intel Talent competitors Get Started Workforce trends Undervalued Talent Pool Identification Worksheet Industry trends Use this resource to uncover and select undervalued pools of high-quality talent.Prospect Intel Preferences Source: Smart Sourcing, CLC Recruiting, 2011 CLC Recruiting, Corporate Leadership Council © 2012 The Corporate Executive Board Company. All Rights Reserved. RR2171211PRO 13
  14. 14. Instead of using channels that provide the most 5 Target Channels That Offer Quality, potential prospects, focus on channels validated Not Quantity by data and recommended by peers. Sourcing Channel Selection Criteria Prevalence Among Smart Sourcers (Indexed to Average Sourcers)*• Peer advice and data about how effective the channel has 1.51x been in the past are valuable criteria for identifying channels 1.26x that provide access to high-quality leads. 1.00x 1.00x 1.00x• Tailor your channel usage Average strategy based on the type of 0.75x Sourcer requisition such as high Smart volume, senior-level, etc. Sourcer Prospect Volume Peer Advice Historical DataIntelligence You Should Use Channel Selection CriteriaFor This Tactic Smart sourcers use prospect volume as a criteria to choose their channels 25% less often thanMarket Intel average sourcers do. Talent competitors Workforce trends Industry trends Get StartedProspect Intel Sourcing Channel Evaluation Tool Preferences Use this tool to assess your sourcing channels and determine whether to focus on new channels. Perception of organization Sources of information Source: Smart Sourcing, CLC Recruiting, 2011 CLC Recruiting, Corporate Leadership Council © 2012 The Corporate Executive Board Company. All Rights Reserved. RR2171211PRO 14
  15. 15. Timing outreach to coincide with events that create 6 Take Advantage of Events at Your Talent uncertainty for potential prospects increases their Competitors interest in your job opportunities. Impact of Events on Prospect Interest in Job Opportunity• Reaching out to prospects as requisitions open up (or are Events That Drive High Prospect Interest about to open up) is time > 10% consuming and often results in • Prospect’s organization announces layoffs a low prospect response rate. • Prospect receives a disappointing performance review• Always monitor business and Events That Drive Moderate Prospect Interest industry news for layoffs, acquisitions, stock price • Prospect’s organization announces an outsourcing initiative fluctuations, and changes in 1-10% • Prospect’s organization announces it is being acquired senior management at top talent competitors, and reach • Prospect’s company’s stock price drops dramatically out to prospects when these • Prospect’s organization announces a change in senior management events occur. Events That Drive Low Prospect Interest < 1% • Prospect’s organization announces it is acquiring another organization • Prospects direct manager leavesIntelligence You Should UseFor This TacticMarket Intel Get Started Events at talent competitors Employer brand position Event Monitoring Worksheet for Recruiters and Sourcers Business trends Use this worksheet to monitor business and industry news and plan your subsequent outreachProspect Intel activities. Preferences Source: Attracting Critical Talent in an Uncertain Economy, CLC Recruiting, 2010 CLC Recruiting, Corporate Leadership Council © 2012 The Corporate Executive Board Company. All Rights Reserved. RR2171211PRO 15
  16. 16. Focus your outreach messages on changing 7 Emphasize Your Organization’s prospects’ awareness and perception of your Differentiated Strengths organization’s differentiated strengths to improve brand Relative Impact on Employment Brand Attractiveness attractiveness.• Tailoring employment brand to 100% Changing prospects’ perception and prospect preferences is 10% awareness of your organization’s necessary but insufficient. differentiated strengths can improve 13% brand attractiveness by an additional 23%.• When communicating with prospects, ensure that they do not perceive your employment brand as generic or are unaware of the brand’s 77% strengths as compared to other organizations. 0% Brand Prospect’s Prospect’sIntelligence You Should Use Tailored to Perception of Awareness of Prospect Brand Compared Organization’sFor This Tactic Preferences to Competitors Brand StrengthsOrganization Intel Organizational changes Components of Employment Brand AttractivenessMarket Intel Events at talent competitors Business trends Get Started Workforce trends Differentiated Brand Messaging Worksheet Employer brand position Use this resource to evaluate and differentiate your brand messages as compared to your talentProspect Intel competitors. Preferences Source: Attracting and Retaining Critical Talent Segments, CLC Human Resources CLC Recruiting, Corporate Leadership Council © 2012 The Corporate Executive Board Company. All Rights Reserved. RR2171211PRO 16
  17. 17. Instead of keeping in touch with all prospects, focus 8 Focus Engagement Efforts on your engagement efforts on prospects who are Truly-Interested Prospects interested in the job opportunity and likely to Behaviors Indicating Prospects Are Not Percentage of Prospects Who Exhibit switch (i.e. truly-interested Truly-Interested Behavior prospects).• There are three key types of prospects who you should filter Window Shopping out: window shoppers, 17% Engaging with sourcers despite high embellishers, and attention job-switch barriers (e.g., mortgage, family) seekers.• Asking direct questions reveals little about prospects’ Embellishing true interest; surface Saying anything to sourcers to advance in 11% underlying indicators of their the process likelihood to switch indirectly. Attention Seeking Engaging with sourcers for the attention 9% of being recruitedIntelligence You Should UseFor This TacticMarket Intel Events at talent competitors Get Started Employer brand position Uncovering Prospect Intelligence TemplateProspect Intel Use this guide to assess prospects’ true interest indirectly during conversations with them. Preferences Obligations Source: Smart Sourcing, CLC Recruiting, 2011 CLC Recruiting, Corporate Leadership Council © 2012 The Corporate Executive Board Company. All Rights Reserved. RR2171211PRO 17
  18. 18. Prospects are more likely to respond to outreach and 9 Earn Prospects’ Trust Before Fostering continue to engage when you earn their trust. Relationships• More than half of prospects do Impact of Sourcer Activities on Prospects Probability to Respond to Sourcer Outreach not respond to initial outreach because the sourcer is ineffective. Sourcer Activities Probability to Respond• Sourcers who focus solely on fostering relationships actually Networking with prospects without a job 11% see negative results; providing opportunity believable information and Fostering personalizing the opportunity Relationships helps you earn prospects’ Leading with a soft pitch (e.g., asking trust. prospects for referrals) 4% Personalizing the opportunity based on prospect’s experience and interests 7% Earning Prospects’ Trust Providing credible information about the job and organization 6%Intelligence You Should UseFor This Tactic Get StartedProspect Intel Preferences Prospect Outreach Diagnostic Interests and strengths Ask yourself 12 questions to see if you are building prospects’ trust. Education and experience Reason for prior job move Source: Smart Sourcing, CLC Recruiting, 2011 CLC Recruiting, Corporate Leadership Council © 2012 The Corporate Executive Board Company. All Rights Reserved. RR2171211PRO 18
  19. 19. One-to-many communication is as 10 Use Web 2.0 for High-Touch, Scalable effective as one-to-one communication in engaging Engagement prospects in a customized manner. Impact of Type of Communication on Prospect Engagement• Engaging with prospects on a Scalable communication is regular basis does not 9% 8% as effective as one-to-one necessarily have to be a communication, making it time-consuming activity. possible to productively engage many prospects at• You can use Web 2.0 channels once. Impact on such as e-newsletters, Prospect customized by function or Engagement areas of interest, to keep in frequent touch with many filtered prospects at once. One-to-One Communication One-to-Many CommunicationIntelligence You Should Use • Professional networking profile • Professional networking groupsFor This Tactic • Comments on blog post or article • Proprietary talent networkOrganization Intel • Direct e-mail message • E-mail with targeted job postings Organizational changes • Social networking profile • Social networking groups Function-specific events Talent needs of organization • Personal phone call • Organization’s e-mail newsletterMarket Intel Workforce trends Industry trends Get StartedProspect Intel Prospect Engagement Newsletter Template Interests and strengths Modify this template to create customized newsletters that keep prospects engaged with minimum Education and experience time investment. Preferences Source: CLC Recruiting research CLC Recruiting, Corporate Leadership Council © 2012 The Corporate Executive Board Company. All Rights Reserved. RR2171211PRO 19
  20. 20. SMART SOURCING PLAYBOOK Why Smart Takeaway The 10 Tactics Sourcing? ResourceCLC Recruiting, Corporate Leadership Council© 2012 The Corporate Executive Board Company. All Rights Reserved. RR2171211PRO 20
  21. 21. HRLC’sTen Tactics for Smart Sourcing Smart Sourcing Tactics Get Started with These Resources 1 Don’t Treat All Requisitions Equally Intelligence Value Questionnaire Using Evidence to Influence Hiring Managers: Evidence 2 Influence Requisitions You Source For Documentation Template 3 Help Candidates Filter Themselves for Jobs Checklist for Writing Clear, Compelling Job Postings 4 Source Where Other Sourcers Don’t Undervalued Talent Pool Identification Worksheet 5 Target Channels That Offer Quality, Not Quantity Sourcing Channel Evaluation Tool 6 Take Advantage of Events at Your Talent Competitors Event Monitoring Worksheet for Recruiters and Sourcers 7 Emphasize Your Organization’s Differentiated Strengths Differentiated Brand Messaging Worksheet 8 Focus Engagement Efforts on Truly-Interested Prospects Uncovering Prospect Intelligence Template 9 Earn Prospects’ Trust Before Fostering Relationships Prospect Outreach Diagnostic 10 Use Web 2.0 for High-Touch, Scalable Engagement Prospect Engagement Newsletter TemplateCLC Recruiting, Corporate Leadership Council© 2012 The Corporate Executive Board Company. All Rights Reserved. RR2171211PRO 21
  22. 22. CORPORATE EXECUTIVE BOARD WWW.EXECUTIVEBOARD.COM

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