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When we look towards the future, aren’t we all imagining life getting easier?
Maybe you wake up after a precisely timed amount of sleep to consume a breakfast calibrated to your nutritional needs, before slipping into clothing that has been designed, selected and laid out to fit your day’s activities and the weather.
As you teleport yourself to work, you arrive perfectly coiffed with an expertly prepared coffee in hand. You sit in your ergonomic chair, stretch out your hands over your computer dashboard and take a deep breath, ready to elegantly resolve any of the problems of the day.
And here’s the beautiful part that’s not way off in the next millennium: All the data you need to is already available at your fingertips.
Welcome to the future.
According to ANS/SHRM research, HR departments are spending as much as $2,400 per hire on external sourcing and another $600 on internal sourcing. In fact, all aspects considered, the average amount that US companies spend to fill an open position from start to finish is $4000 per hire, and considerably higher for more senior roles.
What would be possible if you weren’t constantly wrestling with these kinds of numbers?
The two key obstacles to growing headcount are a shortage of candidates and lengthy hiring practices.
The average time to fill a job is 52 days.
47% of small businesses cannot find qualified applicants for open positions.
52% of hiring decision makers say passive candidate sourcing has been less effective for their company.
You might think some of these problems are best solved by the very problem you might be having – by hiring more people. But a Harvard Business School study looking at more than 250,000 hires showed that algorithms can predict the success of hires better than the discretion of hiring managers.
What if rather than making endless phone calls to find candidates, your sourcing team concentrated on a smaller number of already vetted people who were simply waiting to hear more about the job? What if they were coming to you, rather than every day being a battle to find a phone number, an email, an extra speck of information that might help you source that next candidate’s email, all at great time and great expense?
THERE IS A BETTER WAY
Remember having to wait to hear a song on the radio?
The beauty of technology and data collection means now, not only do you have any music you want at your fingertips, but based on your needs and preferences, you can find hours of other music that you love without even hunting for it.
Even better, the technology is anticipating what you would need or prefer, based on your previous listening.
How could a tool like this work for sourcers and recruiters?
Well, an automated source generator is kind of like Spotify. There are millions of songs and artists in existence, but finding that exact thing, that dancy, infectious jam you can’t stop moving to, is not always easy to find amongst the millions. Spotify intelligently picks up both on the obvious signals (songs you add to playlists, artists you follow) and the not so obvious – like that song that you always skip at 0:10, or that would be the perfect complement to the five songs you play every time you go on a run.
Every time you use the platform, you’re teaching it to give you more of what you love.
This is what Talent-On-Demand can be to your recruiting teams. The intelligent platform for their recruiting future.
Your teams are people, and their time can be better spent than on mining for specks of online gold. They should be out there selling your company, and fixing two absolutely crucial, yet constantly strained relationships.
Your hiring managers, and your candidates.
PERFECTLY CURATED FOR WHAT YOU NEED
Imagine that recruiters could come to intake meetings with a structured set of questions to align faster. And once they hit submit on their answers, a curated pool of the most relevant candidates is delivered within 24 hours – contact details, social links and connections to existing team members included.
No waiting for InMail replies, or relying on social networks. No middle man. And no waiting for a human to deliver a list that technology can deliver faster and more accurately.
The future of sourcing becomes more human. When you’re saving time, effort, cost and resources on finding candidates, you can concentrate on selling your must-have candidates, and closing the deal.