If any single industry requires a well-defined talent strategy, recruitment is undoubted. Talent sourcing, particularly in a highly competitive market, requires a developed approach to meet business objectives and deliver results. The only way to truly determine the best recruiting model is by assessing the unique talent needs of your organization.
What is Talent Strategy?
A recruiting strategy distinguishes organizations and defines a highly refined process. Your company’s talent strategy determines the type of candidates sourced and the channels used to attract those candidates.
In addition, a recruiting approach also explains how those candidates are screened and brought into the company.
Finally, it is essential to note that your business objectives should drive your talent strategy, determining where candidates come from and what they cost your company.
Many companies think that they source and select talent similarly, but this is not true. Instead, most organizations today utilize a variety of sourcing and recruiting models, depending on the available position requirements.
Here are a few sourcing and recruiting models that most organizations are using:
Top Recruiting Models
Employee Referrals
Employee referrals are a good source for entry-level employees. They save the company time and resources because they come from a pool of pre-selected candidates.
In addition, it promotes goodwill among employees. They get to choose people they have worked with in the past, have a good rapport with, and trust.
Employee referrals are acceptable for entry-level jobs, but they can be risky for high-level positions. Furthermore, employee referrals work best when recruiters have first-hand knowledge of the candidate’s capabilities. So it isn’t effective in professional or managerial roles requiring industry experience.
Good recruiters also know that candidates whose friends and family already work at the company make for poor referrals. Unfortunately, friends and family might not admit their prospective candidate has flaws. This bias is especially alarming in high-stakes employment decisions like hiring for managerial positions.
The next recruiting model that we will discuss is the job boards.
Job Boards
Job boards like CareerBuilder, Monster, and Indeed are good talent sources.
However, the best talent source is AI-powered software, which searches multiple job boards in one click. In addition, software often works with specialized job boards to find the best candidates for their clients.
Employers must maximize exposure by using job boards specific to their industry and traditional ones when posting jobs online. Doing so exposes their opportunities to the broadest pool of potential candidates.
Niche job boards are also a highly effective way to source top talent. Some candidates prefer to use them since they can be around other community members.
Employers also must certify that their job description is engaging and informative and use keywords to attract the right talent. It is not practical if a job description does not attract and retain a candidate’s attention.
Companies should use an internal career site for passive candidates. They should also use one or more job boards for maximum coverage.
It is also important to note that not all job boards are right for your business. These platforms vary widely in terms of quality and effectiveness.
Moving ahead in this article on talent strategy assessment, let us discuss the next recruiting model – Employer Branding.
Employer Branding
One of the most impactful ways to attract talent is by building an employer brand that reflects the culture you are trying to establish.
The idea behind this strategy is simple: When people think of your company, what do they say? Of course, the answer to this question is the reputation that exists in the minds of candidates and customers alike.
Employer branding isn’t just about marketing. It is also about developing job postings, advertising on social media platforms, networking, participating in local organizations, and adding to your company’s online presence.
With effective employer branding campaigns, you will be able to attract people who would not otherwise consider themselves interested in working for your company.
Employer branding is a great way to attract passive candidates. However, it works best when it is authentic and comes from employees representing its culture.
A carefully selected group of current employees can help develop employer branding messages that appeal to different aspects of what potential candidates are looking for in your company.
After employer branding, the next important recruiting model is the Social Recruiting model.
Social Recruiting
One recruitment trend that makes waves across all industries is the social recruiting strategy. First, businesses establish their recruiting brands on top social media platforms, including Facebook, LinkedIn, Twitter, and YouTube.
From there, they post open positions. Having a presence on these sites allows both active and passive candidates to find job postings through various social media feeds.
Social recruiting is effective because your hiring team can do it at a minimal cost and with the help of AI. Oorwin’s AI-driven applicant tracking system (ATS) aids the social recruitment model.
It stores candidate information, develops targeted messages, identifies new candidates, and unifies data and information collected from these platforms into a single view.
Social media recruiting is an excellent choice for organizations because it saves time and money to reach people who fit their criteria without actively sourcing them.
It also allows companies to build relationships with potential candidates before ever speaking with them, which helps streamline recruitment.
In other words, social recruiting strategies are best for reaching candidates who are not actively looking for a new job.
Creating a Candidate Pipeline
An impactful way to attract and retain top talent is to create a solid candidate pipeline. Your hiring team can do this by using our applicant tracking system.
It has recruiting software features that help you gather, maintain, and track your pool of applicants.
By establishing a pipeline, businesses can ensure they have many strong candidates should they need them for any job openings.
Managing a talent pipeline is especially beneficial for companies who reside in an industry with high turnover rates, such as the restaurant and hospitality industry. It provides them with a steady stream of new potential hires to continually cycle through their hiring process.
The best candidate pipelines have a specific strategy behind them that focuses on building relationships with candidates, collecting their information, and following up with them.
Pipelines are especially effective when organizations can efficiently match candidates’ skills to new jobs openings. Therefore, when using your ATS, make sure to include keywords that best represent the skills and qualifications required for a position.
Your ATS will match your pool of applicants to open positions with better precision by having these keywords. Adding additional keywords helps you build a strong candidate pipeline as well. Doing so ensures you have the right talent on hand whenever and wherever you need it.
Oorwin specializes in recruitment and applicant tracking software. We believe that your hiring team should design an effective talent strategy with your company’s specific needs in mind. Contact us today to learn how our AI-driven recruiting model will attract the best talent if you have further questions.
With this, we end this article on how to assess your talent strategy and recruitment model. So, if you are interested to know more about Oorwin’s products and implementation, take a product tour today or contact us at +91-8977801805 / USA: +1 877-766-7946 to talk to our product advisors.