Raghu Nandhan, Author at Pragna Global RPO Company

What is Talent Sourcing? why is it important

by Raghu Nandhan | Jan 19, 2023 | Blog, Talent Acquisition

Talent sourcing may be a new term however growing thought within the world of recruiting. It is a technique of generating candidate flow, finding, and networking with prospects eventually geared towards changing people into mortal or providing extra referrals. A lot of individuals concerned in talent acquisition are still discovering sourcing for the very first time and aren’t yet quite certain what it is. Here at Pragna Technologies, our goal is to be one of the best sourcing tools out there, and in order to do that, we know we have to help newcomers gain a better grasp of what sourcing is.

What is Talent sourcing?

Talent sourcing involves proactively searching for and engaging qualified talent to fill your company’s current or future positions, and it’s more important than ever. Only 36 percent of the workforce is actively trying to find a replacement chance at any given time; however an incredible 90 percent is willing to speak and learn a lot. Sourcing opens you up to large swaths of the talent pool you didn’t have access to before – among each passive candidates, and active candidates who otherwise wouldn’t apply because they don’t realize your company or open opportunities. Sourcing permits you to take control of your pipeline and initiate conversations with the talent you actually need.

What’s more, recruiting benchmarks analysis found that sourced candidates are more than two times as efficient as candidates who apply. One in each 72 sourced candidates, on average, is hired, compared to 1 in each 152 for candidates who apply. That figure is even a lot impressive when you consider that applicants are actively interested, whereas sourced candidates might not be.

Why it matters

Based on the definition above, Talent sourcing brings a neat combination of predictability, reduced risk, efficiency, and quality to the hiring process. That’s music to every business leader’s ears.

How do those advantages play out in practice? For example, the Sourcing team can build forecasts spanning several months based on current talent pipelines. That allows hiring managers, recruiters, and human resources staff to plan for interviewing time and resources, on boarding, pieces training, ramp-up times, workload, etc.

Conclusion

The term talent sourcing might be new for few but it’s of great use to the recruitment industry (RPO). Talent sourcing not only reduces the overall hiring time; it also makes sure that the candidates fit into the role exclusively. It increases the overall hiring process efficiency and customize the hiring process.

If you’re curious about RPO, we’d always encourage you to do a demo. When it comes to Recruitment and Talent Sourcing, there’s nothing quite like it. You can start your free trial here

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what is strategic recruitment ?

by Raghu Nandhan | Jan 11, 2023 | Blog, rpo

What is Stratergic Recruitment?

The employment of skillful selling, employer branding, and recruitment-directed marketing in talent sourcing is known as strategic recruiting. This approach enables a business to adapt successfully to changing market conditions.

It’s really interesting that the majority organisations don’t understand the strategic significance of their recruitment activities in attaining their business goals, until that function is efficient and truly broken. Recruitment is commonly seen as a tr`ansactional supply centre, but in reality, it’s the main stream of talent joining your organization. Without that right talent, your objectives aren’t going to be accomplished.

When we associate with clients, our recruitment teams have to plan and implement strategic ways that they understand at firsthand what goals are being aimed for and what challenges could also be experienced along the way.

As a recruiter, you already know well the significance of culture fit when hiring new employees. When a new hire’s culture frequency resonates with the reality of the firm, they will feel great and content in their new journey and deliver their best work.

However, understanding how well someone will fit into your company’s culture may be a challenge for all organizations every time. It’s tough to assess how well an individual can fit into the day-to-day activities of a company.

Below are the important employee recruitment strategies to help improve your hiring process in finding top talent.

Develop a Clear Employer Brand

Employer brand is what is going to set you aside from other companies and show candidates why they want to work for you. It must reflect your business’ mission, culture and values. Just think about some questions like, Why someone want to work for your company? and What percent of your staff would recommend your company as an excellent place to work? To further proceed, make sure your company or business pages, social media, and advertisements align together with your employer brand.

Create Job Posts That Reflect Your Company

The job post is that the first impression, the candidate will have of you. You have to make sure that everything is as organized and professional while still embracing your brand. Is your company resonates and built on casual or flexible? Make the job post humorous! If it is solid or strictly business? Make your ad is sleek and well put-together. This helps companies to obtain more applicants and woo right people that will fit in together with your company culture.

Use Social Media

Social recruiting is becoming popularly increasing as companies begin targeting millennial. Social recruiting is just using social media to seek out talent, advertise jobs and communicate with potential candidates. Many brands are successful with this platform including Uber, Apple and Zappos. Make sure your presence on social media which will align together with your values and employer brand.

Explore Niche Job Boards

Depending on what profile or job you’re hiring for, it’s going to be difficult to seek out talent on one among the various large job sites. If your company drop under a smaller, specific category, try your hand into niche job boards. These are smaller job sites who are dedicated to just one category of job and sometimes have a community of job seekers and recruiters. You’ll able to find niche job boards cover everything from the retail to construction industry.

Consider College Recruiting

Recruiting from college campuses can assist you to find future talent for your industry, while also aligning your company with internship opportunities and campus connections. you’ll recruit students from colleges in these ways , arranging career fairs, volunteering to talk at events for your industry, campus online job boards, and more.

Find Passive Candidates and allow them to know you would like them

Passive candidates are those that are currently working and not actively searching for an employment. These candidates will often be the foremost qualified and appear to be the right people for the employment. Personally contacting them will show that you are very much interested about their candidature and will be sure to grab their attention. Using social media and connections will assist you recognize these potential candidates also create awareness about your company.

Conduct Awesome Interviews

It is very important and should know that interviews go two ways. While you’re interviewing your candidate, they’re also interviewing you. Whether you’re meeting remotely or face to face, make sure the interview process more comfortable and relaxed. Will they be working with a group? Try group interviewing. Also don’t forget to reflect your company’s culture. For instance , if you’re in an office which exhibits casual and flexible environment , incorporate that in the interview. In this way, you can find someone who is both talented and a great fit your company.

How to bring down the company cost per hire, with the help of RPO

by Raghu Nandhan | Dec 28, 2022 | Blog, Offshore Recruitment

Do you know your cost per hire (CPH)?

Knowing this figure can help you make better strategic decisions and save your company money in the long run. An average employer in the USA spends $30,000 to fill a new position.

No new hire comes for free, unfortunately, but there are strategies you can use to reduce your unavoidable hiring costs.

Cost-Per-Hire (CPH) is a timely topic for Recruitment Organization, many of whom are under pressure to deliver better quality of hires with fewer resources. The amount of specialized roles that need to be filled is increasing but the applicant volume keeps decreasing as we’re on the edge of the biggest candidate shortage yet.

Good news is that by measuring the right volume of data, you can gain control over your recruitment process to develop strategies that increase the quality of your hires while saving money.

How to Reduce Cost per Hire

There are several different methods that can lead to reduction of Cost per Hire (CPH). Below is the list of strategies that you can choose from to reduce the costs.

Build a Talent Community

Often candidates are hard-to-find, are also unwilling to leave their current job, but this may change one day. As 75% of the people you want to hire aren’t looking for job change – they are passive candidates. The key here is to grab their attention and sustain it in order to build a pool of passive candidates. Building and maintaining a pipeline of interested, qualified candidates can do wonders for your cost per hire.

Digitization and automation of recruitment process

Using free online tools, professional HR technology and AI to improve recruitment process and reduce their costs is quickly becoming a new norm of your peers in the HR sector. Streaming and automating of the activities can be achieved through implementing the right tools.

What’re more, simple solutions such As., Social media is free and widely popular, so it can help you connect with more job seekers without costing you a penny. Verifying its ability to connect you with quality candidates.

To effectively leverage social media, first ensure that your social profiles share your employment story and encourage job seekers to learn more. Then use social media tools like Facebook’s Graph Search or Twitter’s search engine to start sourcing the talent you need.

Take advantage of free job boards

Posting your job ads on some of the most popular job boards is expensive these days. For example, to post a job on Monster you need to spend $375 per month. To post one job per month on Career Builder you’ll need $199. And a single post on Dice will cost you $250 per month.

What most employers don’t know though is that the two of the first three most popular job boards with the highest traffic offer employers a possibility to post their jobs for free.

You can post your job on Indeed, LinkedIn which is visited by 200 million unique visitors each month.

There are many other free job boards you can take advantage of to reduce your cost-per-hire. One of them is Jora, Angel List, Flex Jobs, where you can post your jobs by filling in a short form (no registration required).

Launch a Corporate Career Site

Because a career site can advertise your jobs and employment brand 24/7, it allows you to reach substantially more candidates for a very reasonable cost. Career sites have also been one of the top internal sources of hire for several years in a row—proving that they can attract quality candidates. In other words, a career site can help you find the right candidates faster and more affordably.

As a result, you can spend less money on more expensive recruiting tactics like job advertisements or career fairs. If you already have a career site and it isn’t generating this outcome for you, request a free career site evaluation so you can get the results you want.

As you test out these recruiting tools, remember that every company is unique and the results that these tools produce vary. But if you measure and track each tool’s effectiveness, you can learn which ones are the most cost-effective for your organization. In return, you will reduce your cost per hire while still hiring some of the best job seekers out there.

Create Referral Programs

The average cost-per-hire is $4,129 according to SHRM data, and the average time-to-fill is about 42 days. Your employees already understand the kind of work ethic and attitude it takes to succeed in your workforce.

By engaging your already-employed talent to refer friends, family, classmates, and colleagues, you can reduce hiring costs and time while sourcing from a ready talent pool.

If you want to bring down costs even more, you can get creative with your referral incentives instead of the typical practice of offering a bonus. Providing special recognition, discounts, prize drawings, and non-cash rewards such as a free parking spot or extra PTO can also motivate employees to make referrals.

Employee referrals are a critical tool for finding new hires. In a 2015 Silk Road study, employee referrals produced more hires than any other source studied. The best part is that you don’t need to invest in an expensive employee referral program to get more referrals.

By strengthening your employment brand, your employees will encourage others to apply without even being paid to do so. For more details and tips, read The Secret Strategy for Increasing Employee Referrals.

Reduce the need to recruit in the first place

The final way to cut hiring costs seems simple on the surface, but might turn out to be a complex project; improving the way you support and engage with your existing employees should help to reduce turnover, so there’ll be less need to hire replacements for staff that leave.

Refining your recruitment processes will also help to improve the quality of your hire, which again should lead to higher staff retention rates

Conclusion:

It’s clear that outsourcing recruitment offers various opportunities for bringing down costs associated with different aspects of human resources management. Choosing to rely on the expertise of an external provider, organizations can efficiently manage their recruitment resources and further optimize their processes.

As a Customized RPO leaders in the recruitment industry, We at Pragna were able to help organizations considerably bring down the Cost-per-hire. We calculate these costs on the basis of hiring history and optimize recruitment processes to render our clients more efficient and less wasteful.

If you’re looking into RPO Solution, please get in touch with us

How can RPO helps the small growing companies

by Raghu Nandhan | Dec 16, 2022 | Blog

Now a day’s business is all about cutting costs and effectively using labour in the most basic corporate operations. Concerning recruiting tactics, a lot of developing firms struggle. Due to the fierce competition, you face from big businesses, it might be difficult to locate the best people you need to propel your company forward. Your disadvantage will persist if you don’t know your brand well.

Regardless of their size, the majority of firms have moved their hiring processes online. Here is a detailed explanation of how an RPO solution will assist you address all your problems if your existing talent acquisition approach is having problems.

increased hiring quality

One of the key benefits of working with an RPO provider is this. RPOs are made to draw in, find, screen out, and hire qualified applicants for every post. They provide you with the top personnel on the market thanks to their experience in technology, employment marketing, and recruiting process design. RPO providers have a significant influence on new hire performance and retention.

Cost cutting

Every day a position is unfilled costs the organization money. Additionally, a poor employee might leave you with a financial hole. Quickly filling vacant positions improves productivity. Long-term, an RPO saves businesses a significant sum of money.

They specialize in leveraging upscale job boards and other recruiting tools, such as an applicant tracking system (ATS), which makes it simpler to follow prospects during the hiring process. Three measures are used to assess an RPO’s performance: hiring quality, hiring cost, and hiring time.

Scale up and Down

RPO models are adaptable and may be scaled up or down based on your hiring requirements. Whether you’re growing your workforce by adding a new department or contracting, RPO is set up to adjust to any changing circumstance without sacrificing quality. Additionally, you only pay for what you receive, absolving others of the burden.

A stronger employer brand

Employer branding is expensive and requires ongoing work. RPO services have a significant influence on establishing a company’s employer brand. They provide a high calibre applicant experience throughout the whole recruiting process. Instead of the applicants making an attempt to come to you, they approach them. They have the skills to paint a picture of your company as a desirable place to work, drawing in potential employees and making them want to work for you. Employer branding expenses as well as the necessity for direct advertising are significantly reduced by RPO solutions.

Maintaining Compliance with Regulations

Being in the growth period and observing every activity independently might be challenging and appear unattainable. Non-compliant employment procedures may include some hazards that are unavoidable. Partners from RPO may protect you against such hazards.

They are knowledgeable with current laws and keep up with any new amendments. They understand how to manage various legal obligations and are well-versed in local and international labour laws and regulations. They can assist you in putting low-risk, compliance-focused personnel hiring techniques into practice.

Conclusion

It might be difficult at first to select a perfect fit RPO solution that comprehends and can match your company’s trajectory of values, beliefs, and hiring ambitions. However, after you get over the first problem stage, the long- and short-term advantages may be substantial.

You get to benefit from having professional advice at all phases of the recruiting cycle while yet maintaining control. An RPO uses a comprehensive method to put into practice successful recruitment techniques.

The entire process, including developing, sourcing, screening, onboarding, and candidate retention, is covered by it. It harmonises recruiting procedures, reducing problems with compliance. As a result, you will save money, shorten the hiring process, and increase your pool of talent.

6 Benefits of the Recruitment Process outsourcing

by Raghu Nandhan | Nov 21, 2022 | Blog

Hiring a brand new candidate is often an exhaustive process, particularly if the newer candidate is to replace an awfully productive employee. You need someone with the same skill sets and the prowess to help your company grow.

The growth and complexity of the talent market have changed the expectations of employees and employers alike. According to a survey conducted, 70% of employers say that their expectations of the value employees bring to their company are constantly growing; while a similar percentage report that employee expectations of employers are also raising.

Here are 6 benefits that a true RPO services provider can provide:

1. Quality Hiring:

Recruitment firms devote their resources and time to searching, sourcing, shortlisting, selecting, and finalizing candidates perfectly suitable for the client. The entire process ensures that highly talented pools of rightly fit candidates are ready for the client to search from. This pool of candidates is then presented to the client as per the requirement so the client gets the best hires.

2. Hire to meet your specific need:

The recruitment process has expertise in all things recruiting. Thus, they are the best option when it comes to finding a specific talent. They not only target their recruiting strategy to attract such talent but also adopt techniques to deliver within the stipulated time.

3. Access to large Job seeker’s Database:

The recruitment consultancies have a large database of recruiters as well as job seekers. They can provide you with the right skilled candidate in lesser time, cost, and effort.

4. Talent Pooling:

The recruitment process provides companies with the best people for the job. These candidates are pooled and actively engaged with, making a community for future hiring.

5. Enable scalable recruitment processes:

Hiring seasons are hectic and things will quickly go out of control. The recruitment process helps you build a flexible method that can scale up and down effectively as hiring demand fluctuates. Standardized processes based on best practices help you avoid nightmare scenarios of high demand and inflexible processes. For organizations that are growing rapidly, the scalability provided by RPO is critical to meet growth targets without pressure.

6. Cost Reduction Strategy:

Advertising is expensive. When a company engages with a Recruitment process provider they drastically cut back on those costs. The need to advertise in all the regular, costly outlets is eliminated. The Recruitment process firm assumes responsibility for finding the candidates. They go to them, instead of having them come to you. They have all the required resources for chasing the strongest obtainable people.

Any business is considered successful only when you make money and it can only be achieved with talented and skilled employees. So utilize the above-discussed points while hiring new talent and save both cost and time.