As a general rule, companies start looking for a new hire when a hole opens up in their company, team or strategy that they need to fill, now. They are responding to a problem. The issue here is that the company only starts looking to fill the role when there is an immediate need. Therefore, the longer the role is open, the bigger the (negative) effect on the company. Effects, that for a top-tier role, can include loss of revenue and a diminished pipeline.
However, there is another way to approach talent sourcing. Become proactive about acquiring talent rather than reactive. Remove the negative ripple-effect that can occur from being unable to discover the right person, to fill that role at exactly the moment you need them.
We have noticed that leading companies have differentiated themselves from the rest of the pack in multiple ways. One of those is the way they approach their recruitment. They have become proactive in their talent sourcing. They begin to identify, draw-in, build relationships with and nurture the talent they think they might need, long before they actually need it.
We believe that a proactive recruitment strategy is the way to build (and maintain) a best-in-class company with the top talent in your industry.
Reactive talent sourcing has no benefit for you or your company long term. In contrast, proactive talent sourcing can enable continuous improvement and transformation, a near constant ability for the business to evolve.
Both of these result in a shorter time to hire when the need arises.
When you are looking for a qualified candidate to fill an open role, you are looking for more than just someone who can do the job. You want someone who will take the role, grow with it, make a positive impact on your company, who will flourish, thrive and be invested in the job that they do. When following a proactive recruitment strategy Hiring Managers will be able to find and qualify candidates like this into a pool and nurture them and their relationship with the company until an open role that the candidate matches becomes available.
The time gained by proactively recruiting instead of reactively recruiting creates an opportunity for your company to really understand the where the top talent is working, why they’re working there, and what your key competitors are offering their candidates. Ultimately it means that you will be able to tailor your recruitment efforts and packages to make them more effective and increase the percentage of candidates who become employees.
If you are proactively recruiting, when the need for a candidate appears, you will already have a pool of pre-qualified people. People whose talent has already been evaluated and with whom HR has already had initial conversations about future openings. You know they are open to new opportunities.
This is a passive talent pool of candidates that you know would fit with the company and who are interested in future positions at your firm.
There is no access to this passive talent pool when doing reactive recruitment.
Being proactive in your talent sourcing lets you evaluate the kinds off candidate offers in your market and find out what really matters to new hires. This understanding coming before the need to fill a role, lets you define your brand, identify and build upon your key selling points and highlight the company’s most attractive attributes.
We do recognise that this kind of recruitment strategy takes time to build and is much easier to do with the right support. If you are interested in learning more about taking your recruitment strategy to the next level, helping your company to continuously evolve, and how Bloom can help support you with your proactive talent sourcing – then reach out to start a conversation with us today.