Sourcing is the second highest origin of hires after direct applicants, so a lot of attention is being paid these days to metrics and tools to improve this crucial function.
Here are 7 metrics about sourcing that every talent acquisition professional should know summarized in an infographic below.
Metric #1: Every 1 in 72 sourced candidate is hired
According to Lever, candidate sourcing is one of the most effective ways to hire. On average, one in every 72 sourced candidates is hired compared to one in every 152 applicants.
Metric #2: Sourcing takes up 1/3rd of a recruiter’s work week
Entelo’s data found on average, a recruiter spends ⅓ of their week or about 13 hours sourcing candidates for a single role. Continue reading
Sourcing – finding and qualifying candidates who have not applied directly to an open role – is the second best hiring source, accounting for up to 33% of hires.
Korn Ferry’s latest survey found 69% of talent acquisition professionals believe using AI as a sourcing tool has resulted in higher quality candidates.
Clearly, recruiters that leverage technology like AI for candidate sourcing have an advantage in today’s tough talent market.
Here are the 3 major benefits recruiters are enjoying by using AI in sourcing.
Benefit #1: Freeing up recruiters’ time
According to Korn Ferry, recruiters are seeing the value of using AI in sourcing:
48% state AI is making their job easier
40% believe AI provides valuable insights
27% say AI has freed up their time
Entelo’s data shows the average talent acquisition professional spends about 1/3 of their work week sourcing candidates for a single role, which is around 13 hours a week. Continue reading
61% of recruiters expect hiring volume to increase this year, but recruiter headcount is expected to be relatively stagnant. As a result, there’s an even greater need for better candidate sourcing tools in 2018.
But which candidate sourcing investments make the most sense for you? Here’s my guide to understanding how AI is improving candidate sourcing tools in 2018.
Candidate sourcing: where is recruiting headed?
Recruiting increasingly needs to become a strategic advantage.
It’s true that automation will eventually fully get to scale and potentially eliminate million of jobs, but that’s still decades away. Today, people power organizations and having the best people makes the best organizations. Continue reading
The HR tech market, including candidate sourcing software, is estimated to be $14 billion globally – and rising.
The rise of artificial intelligence, while not fully at scale, seems to be the next major turning point in the HR tech marketplace.
While there are now hundreds of different vendors offering slightly different solutions, what really needs to be addressed are some core pain points on the talent acquisition side.
The core pain point of recruiters
“Sourcing qualified candidates” comes in as the #1 stressor for recruiters in almost every survey.
This is only logical: good sourcing takes a lot of time, especially manual searches using Boolean strings and LinkedIn, and good sourcing never stops. Continue reading
Candidate sourcing tools can – and should – be a recruiter’s best friend.
In a perfect world, we’d be able to find the absolute best candidate for an open role, whether that candidate is active or passive. Unfortunately, we know that approximately 50% of new hires fail.
So where’s the disconnect between the tools being used and the effectiveness of hiring? How do you know what features you need?
Here are 6 rules to follow when selecting a candidate sourcing tool.
Rule 1: Keep your hiring model in mind
What are you trying to accomplish specifically?
If you are a company that does a lot of high volume hiring, that will require different technology and functions than a company that might hire three times total per year. Continue reading