Sourcing as a Service is the new recruiting agency.
Talent Sourcing Defined.
Talent Sourcing is the process of researching and finding qualified people for a specific job. Wait, isn't that what job postings are for, right? Unfortunately, the job posting and application process is bogged down by hundreds of applications from people who mean well but do not meet the basic job requirements and preferred job skills listed on the job posting. Once a job is flooded with bad applications and unqualified resumes, the recruiter assigned to servicing and following up with applicants quickly gets overwhelmed and stops processing applicants. This is where an experienced talent source comes in.
A sourcers job is to reverse the job application process, and instead of waiting and hoping that a qualified candidate will apply, the sourcer uses tools like LinkedIn to search for people that meet and exceed the job qualifications. Since the sourcer already knows what the hiring manager and team are looking for in an ideal candidate, anyone the sourcer finds is usually way more qualified than any of the job applicants.
What is the "As A Service" business model
Now to the fun part, the "as a service" business model piece of the equation. Specialization of work has been around since the industrial revolution and is here to stay for foreseeable future. The "as a service" business model is any service provided by a third-party vendor.
When it comes to sourcing as a service, anytime a company needs help boosting the flow of qualified candidates for a job, they can engage a professional sourcing provider like RecruiterDNA instead of investing in hiring and training new staff or paying a contingent hiring firm for one candidate.
The great thing about the sourcing as a service business model is that once the job is done, the company can stop paying to for the service, rather than finding other work for contract recruiters or laying off staff.
Our team of sourcing experts works as a specialized extension of your team on a subscription-based model.
TA Manager Alternatives & options to Sourcing as a Service
Hire contract Recruiter / Sourcer
Takes weeks or months to screen, hire, onboard, and train.
Train on your ATS (takes time).
Purchase LIR seat, ATS seat, laptop, ....
Usually, won't make a quality submittal or offers to extend for 3 to 5 months.
Purchase a new sourcing tool (Hiretual, Seekout, Beamery, Loxo, ...)
Recruiter use is usually lower than 35% on new tools from our experience.
Tools are not connected to ATS, and activity is not tracked
Creates duplication of efforts as candidates are contacted on several platforms (ATS, LI, LI Recruiter, Entelo, Seekout...)
Unfortunately, most in-house staff do not understand how to utilize new sourcing tools.
IT Security doesn't allow TA to connect company emails to new tools, which defeats the purpose of the campaign and email sequence features.
Purchase paid advertising on Indeed.com, LinkedIn Job posts, etc.
Recruiters are not trained to create, test, and optimize online ads.
Creates more work for the recruiter as hundreds of non-qualified applicants flood job req.
Need a dedicated resource to manage ad spending.
Buy an add-on CRM / Community module with your current ATS vendor.
Takes months to get IT security approval
Most recruiters never get trained on new software and rarely use it as intended.
Creates more work for managers and can backfire if ROI is not positive.
Costly per seat cost for every recruiter on the team.
GDRP compliance for international locations.
Create an internal referral program
Takes internal investment in a new vendor to manage the process.
Takes a full-time resource to manage the referral program
Create an internal communication plan for change management
Low-quality results from well intentioned employees who do not understand job qualifications.
Can create a pipeline of look-a-like candidates from the employee network.
Low recruiter morale
Recruiting team loses credibility with the Hiring team and leaders.
Hours of preparation for and attending escalation calls with leadership.
Each of the above options has a place in the Talent Acquisition road map, but if you need qualified candidates this quarter, I'm afraid that these options are not the answer, and we know, we have been there and got the t-shirt.
RecruiterDNA's Sourcing As A Service business model creates quick wins at a reasonable price.
We make TA Managers and Recruiters look good!
Qualified candidates are delivered to TA and not the Hiring Manager, thus increasing the Hiring team's trust with your recruiters and sourcers.
We add value to your CRM / ATS for future hires.
Sourcing As A Service is an investment in your talent pool. You keep all candidates.
Great ROI on your spend.
Sometimes filling a req is not the only way to make a win!
Not all reqs are fillable. But with our sourcing service, you and your team can deliver data and insights from a third-party expert, submit qualified candidates quickly, and increase the interviews in your pipelines.
The blog post is for internal HR and Corporate Talent Acquisition (TA) and Recruiting Leads and Recruiting Managers.
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