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Reignite Talent Sourcing

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Cultivate Effective Sourcing Channel Management

Organizations can employ many sourcing strategies to attract and engage top talent. However, some sources may be more effective than others for finding high-quality candidates. Bersin by Deloitte research has found that an organization’s own employees typically provide high-quality candidates, with about one-half of surveyed organizations (51 percent) citing employee referrals as one of their top three most effective sourcing channels (see Figure 1). Employee referrals are followed by professional networking sites (42 percent) and internal candidates (40 percent) as the next two sources of high-quality candidates.1

Elevate the Maturity of Current Processes

Talent acquisition (TA) is a complex, multifaceted function with touchpoints and stakeholders across the organization. Therefore, understanding the key performance drivers that propel an organization toward maturity is essential for TA leaders and recruiters. Bersin by Deloitte defines talent acquisition maturity as,

… the level of the organization’s readiness and experience in relation to its capabilities to develop sound strategies that support the effective attraction and selection of talent, while

aligning to the business.

Bersin by Deloitte maturity models have four distinct levels, with the first level being the least mature and the fourth level the most mature. At Level 1, Reactive Tactical Recruiting, candidates are sourced on an as-needed basis and there is no defined sourcing strategy. At the highest level of sourcing maturity, Level 4 or Optimized Talent Acquisition, sourcing is aligned to the business strategy and recruiter sourcing effectiveness is measured against key metrics.

Mature TA functions are 32 percent more likely to hire candidates through internal means (e.g., employee referrals and internal candidates) than less mature companies, suggesting the development of a strong employment brand and an appealing company website.

NEW RESEARCH FROM BERSIN BY DELOITTE

Sourcing talent, at its most basic, is the identification of both internal and external candidates using various tools, resources, and technologies. Recruiters create candidate pools (consisting of active and passive candidates) by pulling from multiple sourcing channels. A highly mature talent sourcing strategy encompasses a number of different sources and tools, combined with effective employment branding efforts. Those organizations whose sourcing functions are more advanced or mature in their effectiveness than most others can offer lessons to be discerned and applied.

1 Bersin by Deloitte Talent Acquisition Benchmarking Data, 2014.2 Ibid.3 High-Impact Talent Acquisition: Key Findings and Maturity Model, Bersin by Deloitte / Robin Erickson, PhD, Kim Lamoureux, and Denise Moulton, 2014. 4 Bersin by Deloitte Talent Acquisition Benchmarking Data, 2014.

Source: Bersin by Deloitte, 2016.

Figure 1: The Top Three Sources Organizations Use to Yield High-Quality Hires2

Internal candidates

Professional networking sites (e.g., LinkedIn)

Employee referrals

40%

42%

51%

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About Bersin by Deloitte

Bersin by Deloitte delivers research-based people strategies designed to help leaders and their organizations deliver exceptional business performance. The Bersin by Deloitte membership gives Fortune 1000 and Global 2000 HR professionals the information, action-focused tools and performance support materials they need to prioritize, design and implement leading practice solutions, benchmark against others, develop their staff, and select and implement systems. A piece of Bersin by Deloitte research is downloaded on average approximately every minute during the business day. More than 5,000 organizations worldwide use our research and consulting to guide their HR, talent, and learning strategies.

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Take Advantage of Leading Practices

Sourcing candidates from different channels5 and moving up maturity levels6 are important aspects of effective sourcing. However, without leveraging the constantly evolving practices within talent acquisition, organizations can fall short in their sourcing strategy. For instance, today, cognitive analytics has become core to the TA function, along with mobile apps and social media.

Companies should consider integrating some of these technology trends with their sourcing strategy to help to gain and maintain competitive advantage. Our research takes a look at five key categories of leading practices for sourcing:

1. Redesigning job descriptions

2. Reevaluating candidate communications

3. Developing diverse candidate pools

4. Refocusing on social sourcing

5. Exploring cognitive technologies in sourcing

Review Our Latest Sourcing Research

Our sourcing and recruiting research includes three key reports that illustrate ways in which organizations can revitalize their current sourcing programs to find and acquire high-quality talent. The series includes:

• Strategic Talent Sourcing: Leverage a Blend of High-Quality Channels (Part I). This report examines how organizations can enhance their sourcing channel management and thus the quality of their candidate pools.

• Strategic Talent Sourcing: Assess and Build Maturity (Part II). In this report, we discuss how talent acquisition functions can increase their sourcing maturity, as well as show the typical results of higher sourcing maturity.

• Strategic Talent Sourcing: Incorporate Leading Practices (Part III). Those organizations whose sourcing functions are more advanced or mature in their effectiveness than most are able to offer lessons to be discerned and applied. This report reveals the top leading practices in sourcing today—and for tomorrow.

5 Strategic Talent Sourcing: Improve Blend of High-Quality Channels (Part I) 6 Strategic Talent Sourcing: Assess and Build Maturity (Part II)