We’re living in a modern work world where the labor market has a much higher need for faster hiring processes and better talent access. Direct sourcing is a hiring solution that helps companies build a community of high-quality contingent and permanent talent by directly engaging with them through events, newsletters, networking sites, forums, and social media without the need for an external recruiting agency.
Direct sourcing is a robust, dynamic, and future-proof solution for talent acquisition challenges that many companies are facing. Talent shortages are a big challenge today with losses totaling $8.5 trillion in accrued revenue by 2030 if the problem is not handled by then. Hiring costs have increased as well with new hire pay being almost 10% higher than usual, but many companies have been experiencing cost savings from their direct sourcing efforts, proving that these programs are working.
Other benefits that direct sourcing offers are attracting higher quality candidates, speeding up the hiring process, creating more diversity in the candidate pool, amplifying a better employer brand, building relationships with candidates, and “humanizing” the candidate experience. Direct sourcing populations can also be a powerful pipeline for permanent hiring from contingent roles. Implementing a direct sourcing program can help companies remain competitive in the modern workforce while saving on costs and creating quicker hiring cycles.
Source: Atrium Global