Mastering Candidate Sourcing: Your Comprehensive Guide

Imagine you are a human resources manager.

Most likely this is already the case.

So let's go one step further.

Imagine spending a third of your work week on just one task.

Sounds unrealistic?

Well, the latest reports prove that too. In fact, hiring managers spend 13 hours a week just searching for candidates!

And when a task takes that much time, it definitely needs optimization.

Even executives agree.

Marc Benioff, the visionary founder and co-CEO of Salesforce, said: "Attracting talent is the key to growth; recruiting is the most important aspect of our business operations," said Marc Benioff, the visionary founder and co-CEO of Salesforce.

So what are we waiting for? Let’s dive deeper into candidate sourcing, why it’s necessary and how it’s done.

What is candidate sourcing?

Candidate sourcing is the process of finding candidates for open positions within a company. It helps companies take authority over their candidate selection.

Candidate sourcing typically includes:

1. Recruiting talent
2. Screening of candidates
3. Scheduling interviews
4. Gather feedback
5. Make hiring decisions
6. Prepare offers
7. Training of new employees and measurement

Being proactive in identifying potential candidates for open positions, rather than relying solely on applications received, increases the likelihood that you will attract the most capable people to meet your company's needs.

Advantages of Candidate Sourcing

Below are some of the key benefits of candidate sourcing that make it an essential strategy for companies in the hiring process:

• Candidate sourcing expands the talent pool beyond traditional job boards and applications.
• It improves the quality of applicants by proactively targeting specific qualifications, experience and cultural fit.
• Companies gain a competitive advantage by identifying and engaging top talent before their competitors.
• Time and cost savings are achieved by focusing efforts on pre-qualified candidates.
• Procurement promotes diversity and inclusion by actively seeking candidates from diverse backgrounds.
• It improves employer branding by showcasing values, culture and career opportunities.

7 Proven Candidate Sourcing - Step-by-Step Process

Step 1: Candidate search precision with Boolean search

Modern candidate search strategies make finding the most sought-after talent a breeze. Unlike other strategies, Boolean search is the ultimate tool that leverages computer science tools like logical operators, brackets, and keywords to find exactly the right candidates for the companies.

This technique works based on three key operators: "AND", "OR" and "NOT". It works in the following way:

1. Using “AND” keywords narrows the results and shows the candidates who have the specific skills.
2. Using "OR" expands the search to show applicants with all relevant skills.
3. Using “NOT” excludes irrelevant keywords to eliminate unnecessary profiles.

Step 2: Explore specialized job boards

Job boards and virtual platforms offer an additional dimension to an effective candidate search. With platforms like LinkedIn, Indeed and Glassdoor, hiring managers can access the right talent - a wide range of relevant skills, experience and expertise.

IceHrm's ATS allows recruiters to access a central platform where you have access to all the candidates you are looking for without having to scroll between platforms, saving you time and effort.

Step 3: Use the company websites

Check the company websites to find out more about the company, employees, culture and expertise. You can use this information to identify potential candidates who meet your needs. Reach out to them directly to express interest and discuss opportunities.

Step 4: Encourage internal recruiting

Promote internal mobility and offer development opportunities to existing employees. This way you can draw on a pool of motivated employees who already know your company. Additionally, ask for recommendations from employees to expand your candidate pool.

IceHrm's ATS enables recruiters to identify the skills and competencies of potential employees and discover the company's internal talent potential.

Step 5: Use social networks

Social media platforms like LinkedIn are a treasure trove of talented and committed candidates - most are not looking, but are open to suitable offers. Engage with potentially suitable candidates through comments, sharing industry knowledge and building a meaningful and strong network. All of these efforts, along with authenticity and personalized engagement, help create a rich talent ecosystem that can be tapped at any time.

Step 6: Maximize venues

Attending industry-specific events and conferences often provides the opportunity to meet potential candidates in person. These events provide real-time insight into the candidate's communication skills, industry knowledge and passion for the industry. It is crucial that you engage in meaningful conversations with them, exchange contact information, and follow up with them after events.

Step 7: Optimize referral programs

Employee referrals can be one of the most efficient ways to find the right candidates. Optimizing referral programs with easy-to-use websites and effective incentives motivates employees. Hiring managers who overlook this are missing out on the opportunity to attract high-quality candidates who fit into the company culture and have trustworthy employees.

IceHrm's ATS is the perfect solution for recruiters struggling to optimize their employee referral strategy. This allows recruiters to manage and track all employee referrals and seamlessly integrate them into job boards so that their skills and competencies are not overlooked.

Important metrics for candidate search

When searching for candidates for open positions, it is important to analyze metrics that provide insight into the effectiveness and efficiency of your recruiting efforts. The following metrics give you valuable insight into applicant selection:

• Determination of the effectiveness of procurement channels:

To optimize your recruiting strategy, it is important to evaluate the effectiveness of different sourcing channels. By analyzing metrics such as the number of qualified candidates generated, cost per hire, and quality of hires across each channel, you can make informed decisions and allocate your resources efficiently.

• Monitoring Candidate Pipeline Velocity:

To ensure an efficient hiring process, it's important to track the speed at which candidates move through your recruiting pipeline. Evaluate HR metrics such as time to fill, time to hire, and average duration at each stage of the pipeline. This analysis can help you identify bottlenecks and streamline your efforts for a more efficient hiring process.

• Procurement Productivity Assessment:

Assessing the productivity of your sourcing efforts allows you to assess the effectiveness of your recruiters and sourcing tools. Analyze metrics such as the number of candidates placed per recruiter, time spent on each candidate, and overall team productivity. This evaluation helps to identify areas for improvement and increase overall efficiency.

• Measurement of response rate:

Evaluating the response rate of applicants you approach is critical to assessing the effectiveness of your sourcing efforts. Track the percentage of candidates who respond to your communications to assess the attractiveness of the job and the quality of the messages, and make necessary adjustments to improve candidate engagement.

• Applicant Conversion Rate Tracking:

Tracking candidate conversion rates throughout the hiring process will help you understand the success of your sourcing efforts in hiring. Analyze the percentage of candidates moving from one stage to the next (e.g., initial screening to interview, interview to offer) to identify areas for improvement and refine selection criteria.

Innovations in applicant search tools

In today's highly competitive job market, it is becoming increasingly important for HR managers to use innovative candidate sourcing tools that offer extraordinary levels of complexity and speed. These tools have become indispensable when it comes to quickly identifying top talent and targeting them in the most efficient way.

Among the notable advancements in this field, Applicant Tracking Systems (ATS) have emerged as leading solutions to streamline the recruitment process. These systems ensure seamless management and tracking of applicants throughout the hiring process. Sourcing tools, on the other hand, comb through massive applicant databases to uncover hidden gems and potential matches with unparalleled efficiency.

1.Applicant Tracking Systems (ATS):

• Applicant Tracking Systems (ATS) have revolutionized applicant search by simplifying the recruiting process and increasing overall efficiency.
• Hiring managers can use ATS platforms to effortlessly process job postings, track applicants, and collaborate with hiring teams, all from one centralized platform.
• These systems automate time-consuming administrative tasks like resume screening and application tracking, allowing hiring managers to spend more time on strategic sourcing and applicant outreach.
• ATS tools offer valuable features such as resume analysis, keyword matching, and custom workflows that enable quick and effective candidate selection.

2.Sourcing from databases:

• Applicant databases and talent pools offer valuable sourcing opportunities, especially for passive candidates who are not actively looking for a job.
• With sourcing tools, HR managers can efficiently search for specific candidate profiles, filter them and select them based on various criteria such as skills, experience and location.
• Advanced search algorithms and AI-supported matching functions quickly and precisely identify relevant candidates from extensive databases.
• Some sourcing tools provide contact information or integrate with communication platforms, simplifying the outreach process.

3.AI and Machine Learning:

• Artificial intelligence and machine learning technologies improve candidate search tools and increase the efficiency and quality of matching.
• Automated applicant screening is possible by analyzing resumes, identifying keywords, and comparing qualifications to job requirements.
• AI algorithms use previous successful hires to recognize patterns and predict applicant suitability, reducing bias and improving overall quality.
• AI-powered chatbots and virtual assistants engage with candidates, answer questions, and even conduct initial interviews to provide a seamless and personalized experience.

4.Social Media Sourcing:

• Social media platforms offer many potential candidates for recruiting.
• Sourcing tools integrate with social media so hiring managers can connect directly with candidates.
• These tools extract candidate profiles and analyze their social media activity.
• The tools provide insights into candidates' skills, interests and cultural fit.
• Automation features help increase the visibility and reach of job postings through scheduled posts and targeted advertising campaigns on social media channels.

5.Data Analysis and Reporting:

• Advanced analytics and reporting capabilities in candidate discovery tools provide valuable insights to optimize recruiting strategies.
• HR managers can track and measure metrics such as sourcing channel effectiveness, time to fill, and cost per hire.
• These tools enable data-driven decision making through real-time dashboards and customizable reports.
• Visualizations help identify trends, bottlenecks and opportunities to streamline the procurement process.

Streamline your candidate sourcing with innovative tools like IceHrm's ATS. Efficient sourcing leads to quality hires & business growth.