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.
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
No matter how big or small your business is, if you want success, you must invest in Talent. Here is where talent acquisition strategies come into play. Talent acquisition implies the process of recognizing and developing skilled workers to satisfy your administrative needs. With appropriate long-term and short-term HR strategies, you can create a skilled and robust workforce for your firm.
After the recession in 2022, every business has undergone a massive change in its functioning. It is needless to say more challenges have evolved if you are undertaking talent acquisition. Therefore, a clear idea of the challenges and effective strategies can help you to hire the top talents.
Today’s Challenges For Talent Acquisition
The emerging challenges of talent acquisition involve the following issues.
As most people have switched to remote work during the pandemic, a large number of employees are looking for more freedom in working through remote and contractual work for earning their living. Therefore, if you are an HR undertaking talent acquisition, you can easily hire the top talents by creating screening strategies that target the strengths and skills required for small work.
2. Increasing the Value of Compassion
Even though most companies have enlisted compassion in their core value, they lack it in practice. In the pandemic, most employees were jeopardized to work for longer hours, forgoing holidays, deduction of salary, and many other insensitive measures. Most people have been looking for a bit of compassion from their employers. If you want to hire talented people, you must not present yourself as an insensitive employer while building your strategies.
3. Growing Dependence on Technology
Developing technological compatibility has become a challenge to a large number of industries. Artificial intelligence has overtaken HR jobs of sourcing, shortlisting, and selecting candidates for jobs. The best way to deal with this challenge is to supervise the growth of artificial intelligence. This does not mean you should not use the latest technologies in the recruitment process, you should. But before hiring, you must organize a live interview to judge the potential of the candidate. After all, bookish knowledge reflected with degrees does not portray an individual’s talents.
4. Employees Experience is the Top Priority
In order to hire and retain the top talents, the company must have employees who can preach about their job satisfaction. Retaining high-performing employees will demand some efforts from the company to provide benefits like health insurance, seasonal incentives, tax advantages, etc. Moreover, happy employees will definitely attract more talent to your company as everyone does check reviews about the company on platforms like Glassdoor before taking up the job.
Proactive Talent Acquisition Strategies
Some of the proactive strategies that can definitely help your company in talent acquisition are as follows.
Industry forecasting: Understand where your industry is heading and cross-match the talent acquisition according to your business goals.
Data and marketing: Create a database or talent pool and use marketing techniques like email marketing, branding, etc. to reach out to talented or high-performing candidates. Do not forget to highlight the benefits that your company offers to the employees.
Retention of talent: Most companies do not utilize this effective strategy to hook and hold their talented employees. Offer attractive benefits, packages, or incentives for the high-performing employees in your company.
Employee branding: Branding and outreaching as recognized as the ‘go-to’ careers manager in your enterprise
Talent Acquisition professionals are a significant factor for an organization. Their actions play a vital role in the development of a business. In a situation like the COVID-19 epidemic, everything is indefinite; until a vaccine gets fully developed and execute, no one can guess what will come next. The basic strategy to grow in such an atmosphere is to pass over from reaction to pro-action by simply rediscovering, reinventing, and redefining Talent Acquisition in an exotic light.
At Pragna, Talent Acquisition strategies and the ideas built to back them are an essential part of our recruitment process. We use our analytics-backed tool to come up with new strategies and techniques to attract the right talent. We have helped several clients to successfully execute and manage recruitment using our overnight sourcing and recruitment strategy. To know more about Pragna, do check out our website.
Leadership, in a business setting or in life, is an art that motivates a group of people to work collaboratively towards a specific goal or mission. In an organization, leadership can mean the management’s ability to help teams achieve their goals within the set deadlines, make faster decisions, cope with competitive challenges, and inspire all team players to work at their best.
In the traditional leadership styles, neither did the workers have a say nor could they ever imagine remote work modules. The managers used to take important business decisions without taking any major inputs from the workers.
However, it’s time for a positive change. Today, leadership has taken a new shape and form, wherein the opinions of every team member matter. With new philosophies like servant leadership, leaders are able to focus on the individual growth, development, and well-being of each employee.
Integral Aspects of Leadership Today
With numerous technological innovations, including artificial intelligence, machine learning, the Internet of Things, and advanced analytics, workplaces have undergone digital transformations. Today, leadership has grown more flexible, digitized, and highly adaptable. Leaders are developing a more serving attitude to cater to the individual needs of their team players, thus enhancing beer collaboration and interaction within the team.
In modern-day organizations, employees’ opinions are given utmost importance during the decision-making processes, to help them feel more motivated and appreciated. Human Resource professionals are continuously building employee engagement to develop healthy work cultures.
Today, leadership has grown more people-oriented and collaborative in nature, as opposed to the autocratic leadership styles that were prevalent a few years back. Companies have started realizing the ill-effects of such dominating leadership norms, in which the higher authorities used to pass orders to the subordinates for carrying out certain tasks.
To ensure the highest productivity, growth, and success, the modernized organizations of today need to have the following key aspects in their leadership styles –
Promoting Effective Communication
Focusing on Individual Member’s Growth and Development
Even if you think you are a natural leader from birth, you need to cultivate your natural abilities and skills to convert them into high-quality leadership that would benefit the company. In fact, according to a study, only 10% of people are born leaders. The rest 20% only show some leadership qualities, which need to be polished to be eligible for leading an entire team.
How Leadership Can Bring Changes to an Organization?
The success of a company is directly proportional to the productivity and efficiency of its teams. And the success of any team depends on effective leadership and collective responsibility of its members. Therefore, it becomes necessary to manage everybody’s needs, strengths, and weaknesses tactfully.
Leadership helps team members to focus their attention on the important tasks at hand. It enables them to prioritize their work and accomplish them faster without missing a deadline. Effective leadership also focuses on streamlining the workflow of individual group members to maximize productivity and efficiency.
Leaders are also responsible for encouraging their team members to grow and develop on personal and professional levels. An ideal leadership lets every team player acquire new skills and knowledge, which is both exciting and encouraging. It will keep teams highly motivated and give them a good reason to come back the next day.
Additionally, modern-day organizations believe in maintaining healthy relationships among team members through effective communication and transparency. This is why organizing team outings and activities would foster personal growth, develop strong interpersonal relationships, and build trust among colleagues.
In short, leadership is all about fostering team spirit, productivity, trust among members, and the overall success of the company. To bring a positive change in the organization, we need to break the age-old management models and change our leadership styles for long-term success.
Tips to Build Successful Leaders for Your Organization
No matter whether it’s a team of 5 or 100, leadership is never easy. Without having the right knowledge and skills, it’s difficult to bring everyone on the same page, especially when different team players are divided into their opinions and perspectives.
So, to build successful leaders in your organization, the following tips should help –
Maintain Integrity and Honesty
Ensure your leaders are practicing integrity and honesty at various levels. They need to be transparent and be able to influence their team members, developing a highly productive team and effective leaders. Integrity and honesty are essential leadership traits that help to create stronger bonds between leaders and their subordinates.
Foster Self-Growth and Self-Development
Leaders should offer every employee the space to grow and acquire new skills, both at the personal and professional levels. They should be able to promote the values of self-awareness, self-worth, and self-confidence among team members to promote greater efficiency.
Focus on Effective Communication
Communication is a major aspect of leadership, and team leaders should encourage effective interaction and engagement among team members for higher productivity. Right from coaching team members to let them have healthy communications with one another, leaders must be able to encourage everyone to work towards a common goal.
Leaders should be able to delegate the right tasks to the right employees based on their strengths and weaknesses. Needless to say, team leaders should have the ability to analyze the string and weak points of their team members.
Every employee has a certain level of expertise, skillset, and knowledge. Your company’s leaders need to figure out the hidden talents and potential of every team player to ensure effective delegation. To gain a better understanding of that, leaders need to be more interactive with their employees on a personal level.
Ideal leaders should be able to learn agility to know how to face certain challenges and unexpected situations without affecting business continuity. Agile leaders and teams can help an organization sustain itself in the long run.
Build more confident leaders who can come up with quick but effective solutions in times of crisis. This won’t happen overnight, though. You need to ensure everybody in your team is able to learn agility through experience, effort, and, above all, practice.
Empathize With Your Employees
Leaders should be able to empathize with every team member, thus developing healthy relationships among leaders and followers. It’s not only a vital aspect of leadership, but it also acts as a driving force in creating better employee satisfaction and productivity.
Team leaders need to go on a personal level with the employees and understand their pleasure and pain points. Leaders should also be willing to help their employees cope with tough situations. On the contrary, they must also try to understand what makes the team players happy. Such empathic behaviors in leadership would definitely improve the work cultures and bring more success to the organization.
Express Gratitude and Be Humble
As per the servant leadership philosophy, leaders should be humble enough to serve their team members and express their gratitude for being a constant support in challenging times. Besides, studies show that around 79% of employees would quit if they don’t receive the appreciation they deserve.
It’s imperative to stay humble and put aside your ego, no matter how much power you have. Being an ideal leader, you should be able to inspire your followers and that comes from humility, gratitude, and appreciation.
Change is always difficult to adapt to, but it’s necessary for the better. Effective leadership is nothing but helping team players adapt to a new environment easier and faster to ensure business continuity.
It’s important to abandon the age-old management norms that weren’t really healthy for the work environment and embrace more constructive leadership styles, such as servant leadership. Pragna Solutions helps organizations redefine your organization’s leadership models in a positive manner to ramp up employee engagement and success in the upcoming years. With innovative staffing strategies backed with data, they have helped multiple global clients build leadership within the organization to drive organization success.
When recruiting employees, every company analyzes the cost per hire. It not only involves the salary of the candidate but also the expenses associated with the use of internal resources used during the hiring process. As a hiring manager, you are responsible for the cost of hiring, and it can be a challenging job to reduce the cost of hiring while recruiting high volume talents.
Here are a few tips and tricks every hiring manager can utilize to increase their efficiency to reduce cost per hire and also save some time and effort.
Offer a clear Job Description
When you are advertising for a vacancy, most candidates read the Job Description to get a clear understanding of the responsibilities or tasks he/she needs to handle for a job. Suppose you are providing a clear job description with full disclosure of eligibility criteria, expected experience level, hours of employment, type of job (remote or in-office). In that case, you screen away candidates right away who do not have the required criteria. On the other hand, a job description containing details of training, additional benefits to the job and portrays the employer brand image has the higher chances of attracting the top tier talents.
Use of Atomization and AI
Instead of running through thousands of applicants, every candidate, use suitable recruiting software to screen qualified candidates with suitable parameters. 78% of employers have said that recruitment technology makes finding great talent easier than ever.
Moreover, it helps to speed up the hiring process, thereby reducing the cost per hire. Using artificial intelligence also ensures that the criteria of the candidate align with your business goals. Consequently, it is a great way to avoid bad hires and undergo the rehiring process.
Make use of Telephonic and Virtual interview
The cost per hire also depends on travel costs. You can cut off the travel cost by conducting the telephonic and virtual interview. After the onset of the pandemic, most hiring processes have been undertaken through virtual interview.
The telephonic and virtual interview helps you to analyze the candidate, and the two-way communication ensures a better understanding of each other’s expectations and requirement, facilitating the screening of candidates. Moreover, you can save time, energy and hassle of travel and yet select the most suitable candidate.
Reduce the Hiring time
One of the best ways to reduce cost per hire is to move the entire hiring process quickly. If you are undertaking or dragging long hiring process, you are increasing the cost of hiring by increasing the expense of recruitment technology, administrative cost, perhaps travel cost, and other internal resources. The longer the hiring process drags, the higher the cost per hire rises.
Moreover, in this cut-throat competition of talent acquisition, you may lose a high performing candidate if you delay the final announcement. The best way to reduce the hiring time is by setting deadlines or closing date for every step of the hiring process.
Appoint a Staffing agency
If you are looking for a way to hire talents without exhausting your company’s internal resources, the wisest decision is to outsource it to some reliable staffing agency. There are several staffing agencies that are expertise in recruiting talent for their client’s firm within a given period.
By hiring a staffing agency, you can reduce cost per hire by not hampering the productivity of internal resources as well as minimize the productivity loss due to the open position. Pragna Solutions is one of the leading companies that can offer you excellent outsource recruitment solution so that you can acquire talents and also save time and effort.
The Bottom Line
Hiring the right candidate within a short time frame can be challenging but not impossible. These tips and tricks of reducing cost per hire can save you from rendering the cost of bad hires and rehiring. Reports and analytics of cost per hire help you realize the strengths and weaknesses of your hiring strategy. Therefore, you must monitor your cost per hire to develop the most effective hiring strategy.
Pragna Solutions lends you a helping hand to acquire top-tier talents without undertaking the headache of the hiring process. Our expert consultants are experienced HRs who can pick out the best candidates for your business from the target pool to fulfil your business requirements and move you one more step towards your success.
Do visit Pragna Technologies website for more blogs on Recruitment, Hiring and other related topics.
In the cut-throat competition of talent acquisition, the job descriptions play a significant role in attracting and landing top-tier talents. As a hiring manager, attracting talents with catchy job descriptions is essential if you want to hire high-performing candidates for your firm. If you are struggling to attract better talents, here’s a quick guide for you to write job descriptions.
Points You Must Not Miss Out
Most job descriptions usually contain details about the job role, location of the company, and compensation. But if you want to focus on attracting top-tier talents, never miss out on including the following points while writing a job description.
Instead of being creative with the title, just be specific and clear about the job title. You do not need to be fancy with this part. Just mention the job position as the job title. For instance, mention the words ‘Marketing Executive’ instead of writing ‘Looking for people to handle marketing operations’.
Since you have already attracted the attention of potential candidates through your job title, it’s time to be creative. Add a line or two that can hook your potential candidates to read the whole job description. Make use of some excitement to provide possibilities that can intrigue the readers.
Brief about Company and Company Culture
80% of HR leaders vouch that employer branding plays a vital role in attracting talents. Therefore, you must make the readers aware of the company culture and scope of growth in your company through your job description. You do not want to attract candidates who cannot fit into your company culture, and you end up trapped in endless hiring cycles. In fact, making the candidates aware of the employer can help you in improving the retention rate.
Duty & Responsibilities
Of course, every job description contains this part. While writing the duty and responsibilities for the open position, you must keep two things in mind. First, always use plain language, avoid jargon if possible. Second, use the right keywords. If you are posting your job ads on an online platform, the right keywords provide you better results and visibility online.
Eligibility and Preference Criteria
Nothing is a better preliminary screening process that being clear about the eligibility and preferences. You must mention the degrees, skills, and expected experience of the candidates who are supposed to apply for the position. Moreover, do not forget to mention about soft skills required for the position.
Compensation & Benefits
Most candidates jump into this section after finding a suitable job post. Do not forget to mention the approximate compensation in your job description. Highlight any benefits that come with the job, such as health insurance, travel allowance, etc. If you are looking for a remote employee, do not forget to mention that. In most cases, this is the section that helps the candidates decide whether to apply for the position or just pass.
Clear Call to Action
Once a candidate has completed reading your job description, you have to provide him the information about applying for the job. Ensure that your call-to-action is visible and clear. Be specific about the mode of further communication. You may mention dropping CV at this email address or something like walk-in for an interview at (time, date, and place).
The Bottom Line
Attracting the right type of employees can become your game if you know how to write compelling job descriptions. Even though there are several templates of job descriptions in the market, you must stand out from the crowd. Ensure that the job descriptions are in lucid language, uses the right keywords, and are not just cold and detached messages.
If you want to attract the top-tier talents with the job description, you must add some sparks to it by including benefits that a candidate can avail from this job. The last and most important thing to do before posting the job description is to read it yourself and honestly answer the question ‘would I apply for this job after reading it?’. If your answer is yes, go ahead and post it. If the answer is NO, find the reason why and then add that point to enhance the quality of the job description. Hiring the top-tier talents can be a piece of cake if you can attract the best candidates with your job description.
The key to a creating a successful job offer extension is to consider it as a process that starts from the very second you start engaging a potential candidate. As employers, we all experienced that annoying feeling that comes along after finding a great candidate and rolling out a job offer and then the candidate reacting to it with unwillingness, taking too long to respond or even accepting a counter offer.
A compelling offer is anything that makes your organization and position stand above all other potential competitors in the market. Here are the tips to keep in mind while creating an offer that candidates just can’t resist:
This might seem simple, but it is one of the most commonly made mistake while making a job offer, lack of details and rolling out offer too early in the process. Most offer rejections happen just because hiring manager doesn’t know the candidate sufficiently. During the interviewing rounds, make a conscious effort to know the candidate well and note the key information points. A couple of must have notes is the candidate’s desired start date, financial outlooks, ability and willingness to commute to the office etc.
Apply the standard 10% rule
Generally, professionals expect a minimum of 10 to 15 percent increase in salary when they switch to new job. You noted down their present salary during the interview, so while making an offer keep this in mind that you will just get a tepid response if the amounts on table is less than 10 to 15 percent. But sometimes less salary can be compensated with additional bonus, healthcare, investment or lifestyle benefits, also highlighting your work culture, flexible work arrangements can act as a sweet topping on your offer which candidates just don’t want to miss.
Act Fast to Make an Offer
If you’ve made a decision and found your right fir then why wait? Time is always ticking on your head if you don’t act fast then you will miss out your found treasure, because in a down economy exceptional talent is rare. Reach out to candidate soon after they are interviewed and turn their interview anxiety into enthusiasm of cracking it successfully. This will ease the candidate’s stress during the post-interview waiting period. While informing the candidate don’t forget to mention how he was best among the whole lot of other candidates, show that you are thrilled to make them a part of your team.
Follow Up in Writing
Most important, many candidates don’t believe an offer to be real until it’s sent in writing. Then put your words in an email or letter. Clearly lay out all the elements in the offer letter including job title, base salary, benefits, vacation, holidays, perks, etc. Once the offer is sent to the candidate, don’t forget to follow up at least once a week until the start date. The risk of candidate backing out last minute is slightly high if the time period between acceptance and start is longer.
Set a deadline
Make sure to you set a deadline for the candidate to accept the offer. A three-day deadline is typical but if the candidate takes too long to respond then its not a good sign. Follow up again and ask the right questions to discover if you still can expect a positive response or candidate has made other plans in mind to do offer shopping.
Finding the right candidate in today’s competitive employment market is tough, you should be prepared to entice top talent at all levels in the recruitment cycle. And when you found the perfect fit for your job opening don’t risk losing out on them. Streamlined job offer process is one of the most important steps which includes designing a well-tailored offer letter that address the candidate’s needs, wants and pain points and is just too irresistible. The above discussed tips will definitely help you make a compelling and effective job offer and results in positive experiences that compel best talent to join your company.