The simple answer is that, on average, it takes about 28 days to hire a worker for each new position. 

But the deeper answer is more complicated than that, mainly because so much goes into the hiring process. 

It takes time to determine what type of need your company has and how they’d like to fill it. 

It takes time to write the job description, agree on all necessary credentials and fully understand what type of candidate you’re looking for.

Conducting interviews, calling references, performing background checks – all of this adds to how long it takes to find a solid candidate that will last.

This is time many organizations don’t have, which is why some are hesitant to try Direct Sourcing. They assume creating a talent acquisition program requires a significant time commitment. 

The reality is that Direct Sourcing programs allow companies to streamline their hiring efforts, which actually reduces the time and effort your team needs to spend on finding top talent. 

For part three of our three part series on common Direct Sourcing misconceptions, we debunk some time-related hiring myths. 

Myth 1 – Building a Direct Sourcing program is too time-consuming

Yes, creating a successful Direct Sourcing program takes a significant amount of time and effort, especially when you’re starting from scratch, but your company won’t be the one doing the heavy lifting. 

Unlike a VMS or MSP partnership, Direct Sourcing software implementations don’t require a large time commitment from your contingent workforce management team. Typically, your legal, marketing, and finance teams will work with us the most. 

When working with the right partner, building a Direct Sourcing program shouldn’t be a serious time investment. At TalentNet, we are able to stand up a program in less than 15 weeks, if needed. That’s because our team does the majority of the work for you. This includes securing company-wide alignment, providing best practice guidance, and assisting with finding the right Curation partner that will support your efforts.

Myth 2 – Maintaining a Direct Sourcing program is the customer’s responsibility 

This depends on the partner you choose. An effective partner will manage your program while collaborating with your team. This can look like one 30 minute meeting a week to approve all decisions, or even bi-monthly meetings, if needed. 

Once a program has been set up, companies end up saving a significant amount of time long-term. This is because Direct Sourcing platforms allow organizations to streamline the hiring process by:

While Direct Sourcing effectively streamlines your hiring strategy, it’s an ongoing process. 

Elements of the Direct Sourcing strategy that need consistent upkeep include:

• Building strong talent communities and pools filled with qualified, engaged candidates. Once a position opens up, companies can reach into these communities to find a solid, vetted worker, which saves both time and money. 
• Leveraging a company’s natural brand power. TalentNet’s platform allows curators to use social media and branded emails to build brand loyalty and act as part of your team. This enables companies to attract applicants who already have a level of loyalty to your company and understanding of your values, leading to higher retention rates. 
• Using an intuitive platform powered by AI. TalentNet’s platform includes:
  • A job matching feature that automatically matches talent community registrants with jobs based on their qualifications, creating a 60 second application process.
  • Our Job Description Optimization feature, which helps curators quickly write clear, SEO-optimized job descriptions.
  • Our TalentNavigator tool, which acts as a hiring virtual partner and allows Curators to ask any candidate-related question and receive an instant short list. 

Myth 3: Once a program is set up, no more effort is needed

While Direct Sourcing effectively streamlines your hiring strategy, it’s an ongoing process. 

Elements of the Direct Sourcing strategy that need consistent upkeep include:

• Talent mapping. This is a long-term hiring strategy that helps companies avoid costly, time-consuming emergency hiring practices. This includes mapping out your best candidates to the right roles, both currently and in the future, and changes as your company grows. 
• Maintaining Talent Communities. Creating a community and filling it with vetted applicants isn’t enough. Curators should always be engaging with Talent Community members, ensuring candidates are willing to apply to open positions when needed. 
• Curation analytics. Direct Sourcing decision-making should be based on the latest metrics. TalentNet’s TalentInsights tool allows companies to quickly download customized talent acquisition analytics such as application activity, time to hire and Talent Community registration.

To run a successful program, it’s important to regularly check in with your Talent Acquisition team. TalentNet’s experienced team conducts regular meetings with our clients to ensure each strategy is on track. This is especially important to keep up with market shifts and industry changes. 

A solid partnership: Working with a Direct Sourcing expert

While creating an effective Direct Sourcing strategy does take a significant time commitment, that commitment should be made by your partner, not just your staff. TalentNet’s intuitive platform, expert team, and streamlined process allows companies to reduce time to fill and increase efficiency in the hiring process. 

To learn how, request a demo here. 

The post Save time and increase efficiency: Busting common Direct Sourcing misconceptions – Part 3 appeared first on TalentNet.

Toronto, Canada, May 30, 2024 ⁠— As the originators of Direct Sourcing, TalentNet is continuing to break boundaries in the talent acquisition industry by offering a 7-day free virtual interactive experience that highlights its AI-powered TalentNavigator platform.

This tool, which is now able to automate key tasks while creating shortlists in minutes, allows Curators to streamline the hiring process. 

Streamlining the talent acquisition process with AI-powered tools

Functioning as a sophisticated AI Generative virtual partner, TalentNavigator leverages industry-leading generative AI-powered technology to intelligently analyze and interpret each client’s talent pool, delivering real-time insights and comprehensive answers to complex curation queries. Users will be able to explore TalentBench as well and can leverage the tool to find the right fit for each position by including key criteria such as location, skill sets, and pay rates.

“TalentNavigator represents a key shift in the market as hiring executives begin to understand the importance of optimizing the talent acquisition process through cutting-edge AI technology,” said Justin Lumby, TalentNet’s Chief Operating Officer. “Our 7-day experience is a unique offering that empowers companies to test out our revolutionary Direct Sourcing tool on their own time. Through this experience, they gain direct insight not only into Direct Sourcing but also harnessing the full potential of AI.” 

Empowering companies to optimize their workflow

The platform includes job search capabilities, allowing Curators to quickly find job openings for candidates based on customized criteria.  

TalentNet’s newest updates enable the tool to streamline manual tasks, allowing companies to spend more time connecting with candidates and engaging with top talent. 

These tasks include creating notes on a candidate’s profile, inviting talent to apply for a specific position, and pin or tag candidates using unique labels, making them easier to find.

In the future, TalentNavigator will let users make updates to the candidate application status workflow, accept job offers and interviews, send text messages and emails, share candidates with other TalentBench users, schedule actions, access conversation history and even manage talent pools. 

Ensuring continued data protection

TalentNet’s top priority is to keep client data safe. The company attained the industry’s highest privacy compliance levels, which include  SOC 2 Type II compliance and ISO 27001 and 27017 certifications. TalentNavigator does not store any personal information, and all data is encrypted at all times. 

Curators have full control over the process and are able to approve all outputs before they are processed by the tool. 

To be part of TalentNet’s 7-day free virtual interactive experience, simply sign up at the TalentNet website by completing a form and wait to be contacted by a TalentNet rep.

About TalentNet: 
TalentNet introduced the world to a better way of sourcing in 2013 with the launch of the TalentNet contingent labor Direct Sourcing platform. Today, Direct Sourcing is one of the fastest-growing trends globally in talent acquisition. As the technology pioneer in Direct Sourcing, we empower some of the world’s leading brands to provide job candidates with a seamless hiring experience while simplifying supply chain complexity and reducing cost.

The post Direct Sourcing leaders offer free interactive experience of AI-powered hiring tool appeared first on TalentNet.

Talent Communities and Talent Pools play a key role in attracting active, knowledgeable workers who genuinely care about your company. While the two concepts are often used interchangeably, they’re vastly different tools that play two distinct roles. 

Here’s what you need to know:

What are Talent Communities? 

Talent Communities aren’t only filled with applicants looking for work. They include qualified, experienced professionals looking to engage about their fields. While future openings may be of interest to this group of workers, other topics take precedence here. 

Members of a Talent Community are just as likely to chat about how AI is changing their market and how to streamline key processes in their fields as they are to click on posts about current openings. 

Talent Communities are unique because they put the worker at the center of the strategy, allowing members to influence the type and frequency of engagement. Communities are often built using top-performing current and past workers. Members are more likely to have a direct connection to your company, though this isn’t a prerequisite.

The goal of a Talent Community is to nurture relationships with top talent for long-term hiring. 

Benefits of building a Talent Community include:

• Brand loyalty. Through engaging with community members and creating opportunities for industry-focused discussions, Curators are able to foster a level of brand loyalty and company knowledge. This creates a smoother transition when members of a community are hired. 
• Long-term retention. Building strong relationships often means workers hired from these communities are more likely to last longer in their roles. 
• Word-of-mouth growth. Top workers often have networks of high-performing talent that they’re more likely to bring into your Talent Community. 

What are Talent Pools?

Like a Talent Community, Talent Pools are made up of qualified candidates that have the experience and knowledge needed to excel at your company. Unlike a community, which is broad and includes candidates from a number of industries and job preferences, Talent Pools are specialized groups within a Talent Community.

Curators can create Talent Pools based on industry, job type (for example, hybrid, in-office, or remote), location, and many other factors. For example, if you’re a software startup looking to scale, you might have a Talent Pool specifically for marketing candidates with 5 years of experience looking for a hybrid role, as well as a Talent Pool for back-end developers located in your city with a salary expectation of $80,000-$95,000.

Curators can then send specific job openings to each Talent Pool, which helps narrow down the application process.

With Talent Pools, Curators can:

• Decrease time to fill by quickly finding qualified candidates when a role opens up. 
• Ensure retention. Members are usually vetted before they’re placed into a Talent Pool, increasing the chances that they’ll do well and last long-term.
• Increase the quality of hires. Talent Pools are made up of workers who have the skills and experience your company is looking for. 

Building a strong talent pipeline

While Talent Communities and Talent Pools have distinct differences, they both take time and effort to grow. When building a successful talent pipeline, it’s important to:

• Implement proper best practices company-wide that allow your Curators to build a successful talent acquisition strategy.
• Track candidate analytics to monitor each pool or community. TalentNet’s TalentInsights feature allows Curators to quickly find and download customized metrics like community registration and time to fill. 
• Find a platform to support community and Talent Pool growth. TalentNet’s innovative solution includes:
  • AI-based candidate matching, which quickly matches Talent Community registrants with jobs that fit their qualifications, creating a 60 second application process. 
  • Seamless communication management. Curators can easily engage with community and Talent Pool members through SMS and text capabilities. 
  • Our TalentNavigator platform, a virtual assistant that searches candidate profiles to find the best fit for each position. 

Click here to learn more or request a demo.

The post How Talent Communities compare to Talent Pools in Direct Sourcing appeared first on TalentNet.

Ask them what they consider their biggest assets to be. 

Those that truly stand apart in their industries will always say their workforce. Top competitors are quick to invest in their workers above all else. 

For many, this can become expensive. 

Data from the Society for Human Resource Management shows that each new hire costs companies an average of $4,700. This includes factors like third-party recruiters, job posting costs, training, and candidate screenings.

While Direct Sourcing has become a popular talent acquisition strategy for a myriad of industries, many worry about the price tag. In part two of our three part series we debunk misconceptions around the cost of Direct Sourcing and explore how a strong talent acquisition platform can save both time and money. 

Myth 1 – Only large enterprises can afford (and benefit from) Direct Sourcing

The idea here is that implementing a Direct Sourcing strategy with a solid technical platform and curation agency is prohibitively expensive. Some companies say they don’t have hundreds of thousands of dollars to spend on talent acquisition or enough manpower to commit to this strategy. 

The reality is that they don’t need either. TalentNet, for example, doesn’t charge any implementation fees and minimum software fees are often passed on to the curator or MSP involved in the project. 

Not only does Direct Sourcing complement existing technical investments like VMS partnerships, using a talent acquisition software leads to a 15% cost savings. For example, TalnetNet’s customers saw an average cost savings of $3 million last year. 

Direct Sourcing is an important strategy for a variety of companies. By creating a long-term hiring process, businesses of all sizes can ensure they can fill any future openings, saving both time and money. 

Myth 2 – Direct Sourcing only has one benefit – cost savings

This is the flip side of the first myth. While some companies are aware that Direct Sourcing leads to significant cost savings, the talent acquisition strategy’s other benefits are often overlooked. 

Direct Sourcing allows companies to:

• Keep up with the shifting market and grow effectively. By building talent pools and communities filled with qualified candidates, companies can fill open positions faster. TalentNet’s clients, for example, saw an average job fulfillment rate of 36% in 2023.
• Provide a positive candidate experience. TalentNet’s TalentBench platform lets companies provide a 60 second registration and job application process, leading to happier candidates and increased retention rates.  
• Create a strategic talent acquisition strategy with solid best practices that allow companies more control over the hiring process. 

Myth 3 – All you need to achieve cost savings is a strong tech platform

Once companies begin looking into Direct Sourcing solutions, some assume all they need is a solid technical platform. This is a reasonable expectation. After all, AI-based solutions have revolutionized the Direct Sourcing game for many organizations. 

From TalentNet’s TalentNavigator platform, which acts as a hiring virtual assistant, to our Job Description Optimization feature, which allows Curators to create well-written job descriptions, it’s easy to assume tech is all you need.

While an intuitive solution is key, many overlook the human element. To achieve full cost savings, successful Direct Sourcing strategies require: 

• Curation agencies that understand the market and are able to connect with top talent.
• A strong operations team that understands Direct Sourcing best practices and can help you gain company-wide buy-in.
• A team of Direct Sourcing experts that can provide creative solutions to any hiring issues that come up. 

Building a solid Direct Sourcing strategy

Proper Direct Sourcing strategies supported by an intuitive platform and team of experts lead to significant cost savings in the short and long-term.

TalentNet’s platform allows curators to effortlessly build strong talent communities, manage candidates and easily engage with top talent. To request a demo, click here. 

The post Maximizing Cost Savings and Time Efficiency with Direct Sourcing: Busting Common Misconceptions – Part 2 appeared first on TalentNet.

For candidates searching for a place to thrive, this may affect how you’re searching for jobs and connect with companies. 

We’ve partnered with Tundra, a global leader in Direct Sourcing curation, to explore how candidates at different career stages can connect with Direct Sourcing curators effectively and why they should.

Curators vs. Recruiters – What’s the difference?

While both Recruiters and Curators have similar goals, their methods differ. Recruiters are reactive and work with companies to fill positions as they open. They focus on sourcing experienced candidates as independent contractors, separate from the companies they serve. 

Curators, on the other hand, have a proactive, holistic approach to talent acquisition. They work within the Direct Sourcing strategy, which focuses on long-term hiring. This includes building talent communities for future openings, and ensuring companies are prepared for hiring changes and growth. 

While Curators may work for a separate agency, they leverage a company’s brand power by becoming part of each client’s team to find top talent. Tundra, for example, partners with TalentNet to make use of companies’ brand strength more effectively when communicating with candidates and posting on social media. Through TalentNet’s intuitive solution, Curators are also able to efficiently communicate with candidates through SMS and email.  

The curation advantage: Transforming the candidate’s job search experience

Direct Sourcing allows candidates to get hired faster, creates a robust pipeline of eligible talent, and helps lower recruiting costs.

Because Curators take a holistic approach to hiring, candidates are more likely to go through a personalized process that takes their needs and goals into consideration. 

Curators like Tundra, work with the world’s top employers, understand the importance of consistent communication and use cutting-edge solutions to improve transparency. TalentNet’s platform, for example, allows candidates to track their application process. When using hiring portals backed by our solution, workers can apply for a position in 60 seconds through our AI-powered job-matching feature.

Career stage breakdown – Tips on standing out in the hiring process

Navigating the pathways of your career is a multifaceted journey, as each career stage has its own set of challenges and opportunities. Whether you are in a senior leadership role or stepping into the professional arena for the first time, understanding how to distinguish yourself in the hiring process is paramount.

Here are our tips to leverage your skill sets when working with a Curator: 

Senior Director or C-Suite Level

How to leverage your skill sets:

• Last year, Tundra reported sourcing 60% of its new hires from LinkedIn – Keep your LinkedIn up-to-date so Curators and Recruiters find you. 
• Use your robust industry knowledge when connecting with a Curator by contributing to Collaborative Articles on LinkedIn. Get recognized in your industry as a thought leader, and keep your name atop the Curator’s LinkedIn Feeds. 
• In-person networking events can also be effective for making a lasting impression.

Senior Manager or Director 

How to leverage your skill sets: 

• Communicate your value proposition.
• Personalize your messages when reaching out to Curators.
• Highlight your best qualities by using the XYZ method to talk about your latest projects and results. 

Junior Manager or Associate-Level

How to leverage your skill sets:

• Develop a strong personal brand through social media by posting frequently and following your dream companies where you would like to work. 
• Showcase your portfolio on all your social platforms, especially LinkedIn. 
• Always message Hiring Managers or Curators after applying to a new job opportunity to stand out.

Entry-Level 

How to leverage your skill sets:

• Optimize your LinkedIn presence, emphasizing your value proposition, adding keywords to your profile, and establishing a personal brand.
• Stand out by showcasing a unique portfolio, engaging social media posts, and any volunteer initiatives you participate in. 

Talent Acquisition at its most efficient

Direct Sourcing curation is changing the hiring landscape, offering a transformative experience for candidates at every career stage. By connecting directly with Direct Sourcing Curators, candidates can propel their careers to new heights, helping them find the right opportunities that align with their career goals and aspirations.

To learn more about Tundra, click here.

For more on TalentNet’s platform, book a demo.

Download your copy of TalentNet and Tundra’s, Beyond Recruitment: Curated pathways to career excellence infographic, to help better understand the role Curators play in shaping careers at every phase.

The post Crafting your career- why Curators matter and how candidates should connect appeared first on TalentNet.

Companies who could barely find a dozen resumes several years ago are being inundated with applications as contingent workers start to change their priorities when looking for employment. 

While this sounds like amazing news for one side and terrible news for the other, the reality is nuanced. Employers are finding it hard to sift through a deluge of candidates and many companies are still struggling to find skilled workers for niche positions. 

The construction and manufacturing industries, for example, were hit especially hard by a skilled labor shortage in the U.S., with almost 1 million job openings nationwide in June 2023. 

Regardless of the type of job market employers are facing, the solution to finding solid talent is to have a Direct Sourcing strategy with a strong employer value proposition (EVP).  

Here’s what the means and how to create an employer-led value proposition:

Employer-led value props explained

Simply put, a value proposition explains a company’s value to their clients. 

It’s an easy to understand statement that summarizes why a customer would choose a certain product or service. 

Consider some of the most commonly known brands. You can probably already recite their value props. McDonald’s sells delicious burgers. Facebook connects people worldwide. Disney turns family vacations into magical adventures.

The same is true for a company’s in-house talent pool. Businesses with a solid value prop are more likely to attract top talent. 

Value props are essential tools in the Direct Sourcing process. 

As curators build talent pipelines, value props help them create brand loyalty and attract qualified candidates more easily. EVPs are an opportunity to leverage a company’s brand power while creating strong talent communities.

Value propositions should include: 

• Compensation and benefits
• Career development opportunities
• Positive company culture/values 

How to create a value proposition in an employer-led market

In a market where employers have an influx of applications, it’s important to both understand the value you’re willing to bring to a worker as well as the value you’d like that worker to bring to your company. 

While the process of creating a value proposition is the same in both markets, some differences you’ll find in an employer-led market versus a candidate-led one include:

• Emphasis on growth opportunities. Employers are starting to focus on benefits that help both the worker and the company. This includes highlighting competitive salaries, advancement opportunities, and training programs.  

• Value props that cater to the top 10% of applicants. As businesses start to see more applicants, they’re beginning to work on attracting the best talent while also looking for skilled candidates with niche qualifications.

• Less emphasis on work-life balance. While this used to be a significant selling point in a candidate-led market, companies are starting to focus on other benefits in their value propositions.   

Building a solid value prop step by step

Step 1: Identify your company values and mission statement. This will help you understand what sets your business apart.

Step 2: Survey your current and past workers. Without an understanding of why they’re motivated to work for you, it’s difficult to convince others to do the same. TalentNet’s TalentBench solution allows Curators to easily communicate and connect with current and former workers in your company’s unique talent pool through either email or text. 

Step 3: Create a candidate persona, then tailor your value prop to this type of worker. Curators can quickly review each company’s talent pool through TalentNet’s TalentNavigator platform, which uses generative AI to support the hiring process. Users can ask any type of candidate question and receive a list of answers taken from worker profiles, reducing time spent on this process.

Step 4: Create your message and share it with the team. This will give you the chance to fine-tune your offerings and see if your value prop resonates with current workers. 

Step 5: Leverage your value prop. Once you’ve finalized this tool, it’s important to use it in all your talent acquisition campaigns, from social media to work boards and company websites. This will allow you to build your brand and attract the right candidates. 

To properly use your EVP:

• Use current talent to attract new candidates. When a candidate is interested in a position, they’ll have a variety of questions about workplace culture and growth potential. Use your current workers’ knowledge of the company through social media and other channels to reinforce your company’s value proposition.
• Use social media and company websites. Social media is a great place to talk about your company’s value propositions and what makes the organization stand out. Applicants will also be checking out your website, so make sure you highlight your work culture, compensation benefits and growth opportunities here.

Building a solid talent pool 

A strong value proposition is a powerful curation tool. It allows companies to create specific messaging that resonates with top talent. 

TalentNet’s solution makes this process easier through our intuitive platform, which lets Curators build and manage talent communities filled with qualified workers. To learn more, request a demo here.  

The post Building better talent communities in an employer-led market: How to create a strong value proposition appeared first on TalentNet.

In 2021 and 2022, employers were dealing with a candidate-led market, where talent had their pick of positions and the best applicants were scooped up in about 10 days. 

Today, businesses are facing the same problem for different reasons. 

As companies continue to navigate a concerning economic downturn, the tide is slowly turning towards an employer-led market, where businesses are now getting hundreds of resumes for each position. 

And still, recruiters are continuing to list a talent shortage as one of their top challenges in 2024. But this time, the trouble lies in finding skilled workers that fit increasingly technical, specialized positions, particularly in tech and healthcare. 

This is where talent mapping comes in. 

This long-term, Direct Sourcing strategy helps Hiring Managers attract, organize and retain skilled workers while avoiding the need for expensive emergency hiring.

Here’s what you need to know:

What is talent mapping? 

Talent mapping is a process that helps your company map the best candidates to the appropriate job roles to ensure your current and future talents’ needs are being met. 

It’s a long-term strategy that involves understanding your composition of talent and skill sets, evaluating future hiring needs, reviewing whether your current staff meets those needs, and finding talent in your industry that would be a good fit for future recruitment. 

If done correctly, talent mapping reduces the need for third-party hiring services and increases talent retention, which offers significant cost savings. It’s also an excellent way to capture skill gaps at your company and pinpoint candidates who have skills that may be needed for future positions or talent that can be re-engaged.

Skill based hiring: How talent mapping can help

Skill-based hiring has become a top priority for a growing number of companies trying to capture the growing contingent market. As technology evolves at exponential speeds, businesses are continually finding themselves with technical skill gaps that only highly specialized candidates can fit. Even in an employer-led market, these candidates are tough to find. 

Companies were especially hard hit at the end of 2022, when OpenAI released ChatGPT, a generative AI platform that created endless integration possibilities for B2B tech companies. Those who didn’t have workers who understood how to integrate this technology lost out to their competition. 

Companies who invested in Direct Sourcing strategies like talent mapping were able to adapt faster and quickly find candidates with the right skill sets. 

Taking a skill-based approach

Creating a skill-based talent mapping strategy is a long-term investment, but it has impressive gains. Before getting started, it’s important to build a solid talent value proposition to attract strong applicants. 

Once that’s done, here’s how to get started:

Step 1: Create a skills map

To start, your company should identify key skills that will be needed in the future. If you’re running a software development startup, for example, these skills may include mobile app development or Python proficiency.

You can do this using a talent matrix that explores how important each skill set is and how the business will be impacted without these skills. Check out our downloadable, located  at the bottom of the page, on how to create a skill matrix. 

Step 2: Find workers who can fit those skills

At this point, you’ll want to examine your talent communities for workers that fit these skill sets. TalentNet’s TalentBench platform allows companies to seamlessly build, organize, and engage with these communities, creating an easier talent mapping process. 

Making candidate personas – profiles for the ideal candidate – is vital for this stage. It’s also important to define the criteria you’ll be using. For example, do you want candidates with five or more years of experience, or are you looking for candidates with specific industry experience? TalentNet’s TalentNavigator platform allows recruiters to converse with the tool to find top talent using this criteria. 

Step 3: Get more info

Once you’ve identified a list of candidates, it’s important to collect data to understand where each individual fits on your skills matrix. You can do this by:

• Creating talent surveys
• Interviewing managers and workers directly
• Using AI-driven tools like TalentNavigator to review each candidate’s job history and profile

Important data includes education and past experience, performance ratings, and career ambitions. 

Step 4: Categorize your talent 

With all the information you’ve gathered, you’re now able to place employees into the following categories to better understand who would be a good hire:

Category 1: Future Pipeline

These workers have developed their skills and are ready to get started whenever they’re needed.

Category 2: Future Investments

These workers have potential but need some training. They will be ready in the near future.

Category 3: Prospective Pipeline

These workers need to develop their skills fully. They require an investment from the company. 

Category 4: Not Worth Pursuing

These workers are still mastering current skills and are not ready to develop future skill sets. 

Finding the right talent faster

Talent mapping is an essential tool that helps companies navigate an ever-changing job market. With the right Direct Sourcing strategy, recruiters won’t have to sift through hundreds of resumes to find skilled workers. 

TalentNet’s intuitive platform allows businesses to build and manage diverse talent communities filled with skilled candidates. To learn more, check out a demo here. 

Complete the form below to download your copy of TalentNet’s Resource, Talent Mapping: How to create a skills matrix.

The post Conquering an uphill battle – How talent mapping helps companies avoid skill shortages appeared first on TalentNet.

In the 1990s, online job boards revolutionized talent acquisition, allowing companies to advertise open positions to a wide variety of candidates. 

Social media platforms became crucial for a successful hiring strategy in the 2000s. Recruiters were able to connect with top talent where they spent the most time – on LinkedIn and Facebook.

In the 2010s, employer branding became a driving force in talent acquisition. 

And slowly, Direct Sourcing began to gain traction as companies embraced contingent hiring and began using curators over recruiters to build thriving talent communities.

As technology grew exponentially, TalentNet’s Direct Sourcing software brought these concepts together, allowing Hiring Managers to source top talent faster and more efficiently.

And yet, if you ask 20 people to define Direct Sourcing, you’ll likely get 20 different definitions, with a myriad of misconceptions thrown in for good measure.

As the originator of Direct Sourcing, we’re taking a deep dive into the most popular Direct Sourcing myths. In part one of our three part series, we’ll look at talent myths and how this innovative talent acquisition strategy supports companies in their search for top talent.

Myth 1:Curation isn’t that important – or that difficult

Some companies used to think that anyone can be a Curator, as curation mainly consists of looking through a list of applicants and choosing a couple to send to the hiring manager. 

In reality, successful curation is essential to any Direct Sourcing strategy. Curators don’t just look through a database of applicants, rather, they build and cultivate the Talent Community, creating robust Talent Pools within it, all while sourcing and connecting with top talent. To find the right candidates for each position, Curators need to collaborate with Hiring Managers, understand the skills each company needs, guide candidates through the hiring process, and build out positive experiences that boost brand loyalty. 

Myth 2: Any company can quickly build a talent community using former talent

Thriving talent communities don’t just appear, and all communities take time to build. Direct Sourcing allows businesses to build successful Talent Communities through solid engagement strategies and intuitive technology. Attracting current and former hires to sign up for Talent Communities can be difficult without a solid brand, positive candidate experience and easy-to-use interface. 

TalentNet, for example, uses its TalentBench platform to support Curators through talent-matching capabilities. By quickly matching candidates to open positions based on their profiles and skills, the TalentNet platform enables Curators to review candidate matches in less than 60 seconds from a job being released. 

Myth 3: Direct Sourcing only works for certain industries and is used to fill low-level positions

Direct Sourcing is a pivotal strategy for a wide-range of industries, from health and science to social media, consulting and tech, and global sustainability. Once prevalent in only a few sectors, Direct Sourcing has since gained popularity as enterprises look to create more efficient contingent hiring practices. 

The idea that Direct Sourcing is only used to hire lower level positions is a misconception. It’s an effective talent acquisition strategy that helps companies find top talent for a number of different openings, from management to entry-level. TalentNet’s One Doorway philosophy allows Hiring Managers to find full-time, contingent, and freelance talent in one seamless Talent Community. 

Myth 4: Your brand isn’t strong enough to leverage

Every brand has a unique voice and value proposition. Direct Sourcing Curators and tech providers are able to represent and expand the reach of each company’s brand for talent acquisition. This allows Hiring Managers to attract and retain top tier candidates who already have a level of loyalty to your organization.

According to recent stats, 72% of recruiters worldwide stated that employer brand significantly impacts hiring, and 59% of recruiting leaders said they’re increasing their investment in employer brand. 

Myth 5: Direct Sourcing doesn’t support diverse hiring practices

In reality, the opposite is true.

As companies continue to prioritize inclusive spaces and diverse workplaces, many are turning to Direct Sourcing to filter out hiring bias and connect with diverse candidates. TalentNet’s platform includes an optional anonymous diversity survey for candidates, allowing companies to better understand their Talent Community.

Tools like TalentNavigator, which uses conversational AI, are also key in promoting diversity. Not only does the platform help Curators seamlessly find the best talent in any industry, it eliminates any bias using algorithms that exclude personal information and instead focuses on skills and experience. 

Finding top talent through Direct Sourcing 

While Direct Sourcing is a fairly new concept, it’s being widely adopted over a number of industries and companies. As companies continue to struggle through a skills shortage, many are turning to this innovative talent acquisition strategy to find the right candidates faster.

As the originators of Direct Sourcing, TalentNet’s intuitive platform allows businesses to efficiently attract applicants and build thriving talent communities. For more information, request a demo here. 

The post The truth about Direct Sourcing – Busting common misconceptions appeared first on TalentNet.

That was the day OpenAI launched ChatGPT, a generative AI platform that has become ubiquitous in almost every market worldwide. 

And for good reason. 

When it was first released, the technology was hyped as a tool that could do anything for anyone.

It can write your blogs.

It can code your websites.

It can create a 3 hour operatic theatrical production starring Donald Duck as a wild west sheriff. 

Chat GPT was absolutely a game changer. But if we’re honest, the world has been changing for a long time. 

AI-based technology has become a driving force for innovation in almost every industry, with about 44% of companies looking to invest in the tech according to IBM’s Global AI Adoption Index. 

And key players in the talent acquisition sphere are taking notice.

Direct Sourcing platforms have been leveraging AI-powered tech for years, allowing Curators and Hiring Managers to find and attract better candidates faster while cutting manpower costs. 

We look into how AI can supercharge your Direct Sourcing strategy—and why more companies are opting in. 

The rise of AI – Understanding a changing world

AI first dominated the news cycles in 1951, when a computer program played a whole game of checkers all by itself at the University of Manchester. Since then, it has been used in every industry, from education and computer engineering to medical sciences, marketing, and, of course, talent acquisition. The list of AI-based accomplishments is quite literally exhaustive.

As we enter 2024, the latest hot-ticket AI-powered tech items were on display at the Consumer Electronics Show (CES), held in January 2024. The world was introduced to AI companions like Loona, a robotic dog with OpenAI tech that lets users give it commands, a two-legged AI assistant made by LG that can help with chores, and a long-list of smart appliances – from robotic lawn mowers and snow plowers to AI-powered vacuums and mops. 

AI in Talent Acquisition and Direct Sourcing

As AI-based tech continues to grow exponentially, leaders in the talent acquisition field have opted in. Direct Sourcing platforms like TalentNet use machine learning, artificial intelligence and OpenAI technology to reduce time to hire, streamline talent acquisition processes, and give Curators a competitive edge. 

Companies are starting to leverage AI to create a better candidate experience – which seems counterintuitive on the surface. 

Speaking to a real human should consistently lead to a better hiring process, right?

Yes and no. 

Finding, engaging with and tracking candidates is an exhaustive process. Curators don’t always have time for authentic one-on-one communication, leading, ironically, to a robotic, impersonal experience for talent. 

By using AI tools to support the process, Curators are freed up to cultivate those important relationships that lead to better candidate experiences.  

Here’s how Direct Sourcing companies are using AI:

• Through intelligent curation assistants. Leading-edge companies are using OpenAI’s integrations to help Curators quickly pinpoint the best candidate for each role without going through hundreds of applications. 

TalentNet’s TalentNavigator helps Curators find the right fit faster. The tool can search through and analyze long lists of candidate data, share key insights on top talent and answer complicated questions, such as “Who’s the best candidate with computer engineering experience willing to work from the office?” 

Outside of the talent acquisition sphere, many companies are starting to make use of generative AI. HubSpot, for example, has a tool that integrates with ChatSpot.ai to allow users to draft emails, build simple reports and complete other CRM-related tasks. 

• By accessing candidate data and analytics. Curators are using tools to quickly understand candidate demographics, experience levels and other key metrics. TalentNavigator, for example, lets users leverage profile insights to better optimize their talent pools. 

• By supporting DEI efforts. AI-powered tools like TalentNavigator let Curators search for diverse candidates, allowing companies to easily prioritize Diversity, Equity, and Inclusion strategies. 

• By writing engaging job descriptions. TalentNet is pioneering a leading-edge feature powered by OpenAI technology to quickly create clear, effective job descriptions that attract top talent. The Job Description Optimization feature, found in TalentBench, writes descriptions based on the Curator’s output to help companies attract top candidates and save time. 

• By matching candidates to jobs faster. Creating a positive candidate experience helps attract top talent faster. 

TalentNet’s AI-powered technology lets candidates apply for jobs within 60 seconds through job-matching. This feature scans an applicant’s qualifications and identifies relevant opportunities based on their credentials. When a candidate joins a Talent Community and submits their resume, the tool will provide other jobs that match their skill sets along with a match percentage. The better the match, the higher the percentage. This creates a smooth, efficient candidate experience.

Data privacy: Navigating key laws and regulations

Companies adapting AI-powered solutions are often faced with data privacy concerns. A recent Pew Research Center survey found that 70% of Americans have little to no trust that businesses will use AI responsibly, with 81% saying they’re uncomfortable with how collected information may be used. 

Privacy laws were set in place to help protect consumers against improper data storage and usage. 

At TalentNet, protecting client data is a top priority, which is why we invest heavily into data protection. TalentNet holds SOC 2 Type II compliance and ISO 27001 and 27017 certifications, and stays up to date with international privacy laws. Our AI-driven features do not store any personal information, are not used to train AI models, and allow the Curator full control over the process. 

For companies using AI-powered talent acquisition platforms, changing privacy laws can cause complications. 

One such company learned this first hand. 

Capgemini leveraged TalentNet’s experience with privacy laws while expanding to new markets in different countries. The Direct Sourcing experts worked with different regional offices to ensure the company was compliant with all data privacy regulations during each expansion.

The company’s main goals were to manage its vast contingent worker program, build solid global talent communities filled with vetted employees, and identify former workers for re-engagement. Capgemini saw TalentNet’s platform as a viable solution, but faced issues with data privacy regulations when moving into new countries. 

As a data privacy leader in our field with the highest accreditation, TalentNet guided the organization through their expansion into each new region. As the Direct Sourcing technology provider, they worked with each country’s data privacy offices to ensure the organization was complying with all relevant laws.

Capgemini successfully built a global talent community of over 100,000 members while expanding to India, the UK, France, the Netherlands and Belgium, with plans to continue to grow worldwide.

Building an effective talent acquisition strategy

AI has changed the talent acquisition industry.  

And candidates are noticing. From a seamless, 60 second application process to better communication and easy-to-understand job descriptions, AI-powered tech is creating a positive candidate experience while also reducing costs and increasing efficiency. 

To test out TalentNet’s intuitive, AI-powered platform, request a virtual interactive tour here.  

The post The future of talent acquisition: How AI has changed the hiring game appeared first on TalentNet.

This Direct Sourcing strategy allows companies to build diverse workplaces with a variety of different generations and perspectives while also lowering time to fill and reducing costs.

Whether you’re working with Gen Zs and Millennials or Gen Xers and Baby Boomers, each demographic brings unique strengths to the team. In part one of our two part series, we explore why companies should re-engage with top talent from all generations. 

Benefits for all – Why re-engagement with talent is a must

Regardless of which generation you’re engaging, tracking and communicating with past hires has a myriad of advantages, including: 

Faster Time to Fill

Companies with robust hiring needs can reduce time to fill when re-hiring a past worker. 

Former workers are already knowledgeable about your company’s culture, team, and expectations, allowing them to seamlessly integrate into your business with minimal onboarding. This type of engagement also reduces the need for thorough, time-consuming training, creating not only a faster time to fill, but a quicker time to productivity for each worker. 

Once a successful worker exits your organization, keeping them in a talent pool means less work needed on your curator’s end when another position opens up, leading to a more efficient hiring process.

Significant Cost Savings

Creating an effective Direct Sourcing strategy can reduce both curation and on-boarding costs for companies. By decreasing the time to fill for each position, you’re reducing the amount spent on curation expenses, including job advertisements, boosted social posts and hours worked. Quickly filling positions with capable workers also increases productivity in the long-term while reducing on-boarding spend, leading to more cost savings.  

Keep in mind that retention is a vital piece to this puzzle. Choosing the wrong employee can be costly. According to industry stats, a bad hire can cost up to $240,000 in hiring, pay and retention expenses. 

Training new employees is expensive as well. 

In 2016, the average cost of training a new employee was $1,252, a number that has increased with inflation and doesn’t include a variety of hidden onboarding costs, such as instruction materials, paying for the manager and employee’s time and a natural productivity loss that goes hand in hand with onboarding a brand new hire. 

Re-engaging past workers solves all these problems by increasing retention and reducing the amount of training needed. 

Tech-focused and adaptable: Understanding Gen Zers and Millennials

Engaging with younger workers brings its own unique advantages. For Gen Z, that includes:

• Tech proficiency. As the generation who never knew a time before the internet, Gen Z workers are able to quickly adapt to new technologies, allowing your company to stay competitive by leveraging the latest software and tech products.
• Understanding changing industries. New workers entering the workforce often understand and embrace emerging trends, which can lead to innovative ideas and game changing initiatives. 

Like Gen Zers, Millennials bring their own benefits to the workforce, including:

• Adaptability. As a generation that has lived through constant change, Millennials have the unique ability to learn on their feet and adapt to any situation. This is especially useful in the post-pandemic world, where all industries are forced to continually adjust to market fluctuations and economic shifts. 
• Innovation. Millennials are responsible for a significant amount of technological advancement. Both Facebook and Slack were founded by Millennials – a generation known for their innovative ideas and tech savvy. 

Vast experience and a can-do attitude: engaging Gen Xers and Baby Boomers

While fresh talent and new perspectives are essential in the workforce, experienced professionals play a vital role in any team. Gen Xers are known for their flexibility and commitment to diversity while Baby Boomers have a reputation for workplace loyalty.

Benefits of re-engaging Gen Xers include: 

• Leadership skills and an entrepreneurial spirit. Gen Xers are a unique generation. They lived through tumultuous economic times and, in many ways, were forced to innovate to survive. This generation makes up over half of all startup founders. Gen X workers are strong leaders who come up with creative solutions when faced with a problem. 
• Encouraging a healthy work-life balance. Gen Xers value work-life stability. This mindset leads to healthy, engaging workforces with higher retention rates.

Baby Boomers are also assets in the workforce due to:

• Their deep industry experience. As the oldest workers, Boomers have quite literally seen it all. They’re incredibly knowledgeable and are valuable mentors to younger employees. 
• Their reputation as team players. Boomers value teamwork and collaborate well, allowing for a seamless work environment. 

Connecting with all generations of talent through one platform

Tracking, organizing and communicating with past talent is essential to a successful contingent workforce. In part two of our series, we’ll explore tips on how to engage with former workers from a variety of generations. 

TalentNet’s intuitive platform helps companies build solid talent communities filled with tested, experienced candidates. To sign up for a demo, click here. 

Download your copy of our Communication Templates below, helping Curators reach out to top talent in a meaningful way.

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