Smart Sourcing Playbook

CLC RECRUITING™

Smart Sourcing Playbookg yTen Tactics Every Smart Sourcer Should Use

CORPORATE LEADERSHIP COUNCIL®

CLC RECRUITING™CLC RECRUITING

Research AnalystManisha Gandhi

ConsultantEmily Harding

Senior DirectorsSenior DirectorsBrad Adams

Thomas Handcock

Managing DirectorDonna Weiss

NOTE TO MEMBERSThis project was researched and written to fulfill the research request of several members of The Corporate Executive Board Company and as a result may not satisfy the information needs of all member companies. The Corporate Executive Board Company encourages members who have additional questions about this topic to contact the Member Support Center at [email protected] further discussion. The views expressed herein by third-party sources do not necessarily reflect the policies of the organizations they represent.

PROFESSIONAL SERVICES NOTE

CLC Recruiting, Corporate Leadership Council© 2012 The Corporate Executive Board Company. All Rights Reserved. RR2171211PRO 2

PROFESSIONAL SERVICES NOTECLC Recruiting has worked to ensure the accuracy of the information it provides to its members. This project relies upon data obtained from many sources, however, and CLC Recruiting cannot guarantee the accuracy of the information or its analysis in all cases. Furthermore, CLC Recruiting is not engaged in rendering legal, accounting, or other professional services. Its projects should not be construed as professional advice on any particular set of facts or circumstances. Members requiring such services are advised to consult an appropriate professional. Neither The Corporate Executive Board Company nor its programs are responsible for any claims or losses that may arise from any errors or omissions in their reports, whether caused by The Corporate Executive Board Company or its sources.

SMART SOURCING PLAYBOOK

Why Smart Sourcing? The 10 Tactics Takeaway

Resource


Do the Following Challenges Sound Familiar?g g

S /R it

“I don’t have time to build pipelines ”

“I have too many unqualified applicants ”

“My prospects don’t convert into applicants ”

“The skills I source for are hard to find ”Challenges

Sourcer/Recruiter

pipelines. unqualified applicants. convert into applicants. hard to find.C g

Common Reasons

• Application volumes rising

• Alarmingly poor

• Candidates decline offers

• Difficult to keep

• Strong competition for talent

• Passive labor market

• High requisition load

• Recruiting function short-staffedReasons g y p

applicant quality

• Unclear hiring needs

pprospects in the pipeline engaged

• Changing candidate behaviors and preferences

• Specialized hiring requirements

• Unstable hiring requirements


Smart Sourcers Focus on Intelligenceg

Common Sourcing Styles

Research-Focused Relationship-Focused Social Media-Focused Mass Market-Focused Intelligence-FocusedResearch Focused Relationship Focused Social Media Focused Mass Market Focused Intelligence Focused(Smart Sourcing)

• Invests heavily in • Focuses heavily on • Invests more in shaping • Posts openings in • Tailors sourcing efforts generating lots of names

• Diligently screens every application

• Exhausts all potential sources

prospect relationship building

• Typically uses a softer approach for initial outreach

• Invests in keeping

employment brand perceptions through social media

• Prefers social media channels for initial outreach

highly visible places

• Prefers scalable channels over more niche channels

• Quickly and efficiently posts newly opened

to meet the specific needs of each position

• Systematically captures key intelligence from each prospect interaction

U d t t l t• Relies on expert

Boolean search skills

• Has deep industry knowledge

prospects warm for future jobs

• Spends more time building rapport and trust with prospects

• Encourages prospects to t k t ti t

• Uses online networking more heavily to source leads

• Is first to adopt new online recruiting tools

• Teaches others how to i l iti

requisitions

• Uses a consistent sales pitch to convert prospects when sourcing leads

• Relies on initial phone t lif

• Uses data to select sources that yield quality hires for a given position

• Deliberately provides transparent, accurate information about the career opportunity

Smart Sourcing: An Opportunity for Impact

take extra time to discuss job with friends and family

use social recruiting tools

screen to qualify promising applicants

pp y

• Actively seeks to influence strategy, not just fulfill orders


The best sourcers and recruiters today are using smart sourcing techniques—they gather and apply valuable sourcing intelligence to improve outcomes of sourcing efforts.

Focusing on Intelligence Increases Your Impactg g pSmart Sourcers have higher quality shortlists and higher business influence as compared to other sourcers

Common Sourcing Styles

Research-Focused Relationship-Focused Social Media-Focused Mass Market-Focused Intelligence-FocusedResearch Focused Relationship Focused Social Media Focused Mass Market Focused Intelligence Focused(Smart Sourcing)

Percentage of Sourcers With

High-Quality Shortlists

29%40% 42% 43%

64% Smart sourcers have higher quality shortlists compared to other sourcers.

58% 60% 60%

93% Almost all smart sourcers have high business influence, while only 60% or l f th

Percentage of Sourcers With High Business

Influence

50%58% 60% 60% less of other

sourcers do.


Ten Tactics for Moving to Smart Sourcingg g

Requisition-Driven (Typical) Sourcing

Intelligence-Focused (Smart) Sourcing

• Master the sourcing process

• Get high-quality candidates faster

Tactics

1 Don’t treat all requisitions equally

2 Influence requisitions you source for

• Use channels that bring in lots of applications

• Target sources of high-quality candidates

3 Help candidates filter themselves for jobs

4 Source where other sourcers don’t

5 Target channels that offer quality, not quantity

• Build strong relationships with all prospects

• Engage only qualified prospects

6 Take advantage of events at your talent competitors

7 Emphasize your organization’s differentiated strengths

8 Focus engagement efforts on truly-interested prospects

9 Earn prospects’ trust before fostering relationships

10 Use Web 2.0 for high-touch, scalable engagement


Smart Sourcing Tactics Help Solve Your Challengesg p g

S /R it

“I don’t have time to build pipelines ”

“I have too many unqualified applicants ”

“My prospects don’t convert into applicants ”

“The skills I source for are hard to find ”Challenges

Sourcer/Recruiter

• Don’t treat all requisitions equally

• Help candidates filter themselves


• Influence requisitions you source for


• Take advantage of events at your talent competitors



pipelines. unqualified applicants. convert into applicants. hard to find.C g

Tactics*Click on the tactics

to view details

• Take advantage of events at your talent competitors

• Focus engagement efforts on truly-interested candidates


• Source where other sourcers don’t

• Target channels that offer

y p

• Emphasize your organization’s differentiated strengths

• Focus engagement efforts on truly-interested

did t

• Source where other sourcers don’t

• Focus engagement efforts on truly-interested candidates

• Use Web 2.0 for high-touch, scalable engagement

Target channels that offer quality, not quantity candidates

• Earn prospects’ trust before fostering relationships

• Use Web 2.0 for high-touch scalable


high touch, scalable engagement



Resource


Don’t Treat All Requisitions EquallyFocus your efforts disproportionately on the

1

Go Back to Tactics Page

q q ydisproportionately on the most important requisitions.

• Focusing on all requisitions equally is not only time-consuming, but also

d ffi i d

Impact of Prioritizing Sourcing Requests on Quality of Shortlist

reduces your efficiency and quality of shortlisted candidates.

• Use needs definition meetings and conversations with peers to discuss the long-term value

f l ti h i iti

11%Sourcers who prioritizetheir sourcing efforts aremore effective than thosewho do not.

of completing each requisition.3%

No Prioritization Prioritization Based on Importance

Percentage of Sourcers Who Prioritize Based on Importance

31%

Percentage of Sourcers Who Treat All Requisitions Equally

69%

o po ta ce

Get Started

Intelligence Value Questionnaire Use this questionnaire to find out the intelligence value of completing each of your requisitions.

Intelligence You Should Use For This Tactic

Organization Intel Talent needs of organization


Source: Smart Sourcing, CLC Recruiting, 2011

g Business goals Organizational changes

https://rr.executiveboard.com/Members/ResearchAndTools/Abstract.aspx?cid=101155398

Influence Requisitions You Source ForSmart sourcers use evidence when collaborating

2


qevidence when collaborating with hiring managers to understand and test assumptions about hiring needs, and influence requisitions as necessary. Impact of Effective Needs Definition Phase on Recruiting Outcomes

• Setting expectations with hiring managers upfront in the needs definition phase improves the likelihood of sourcing higher quality candidates and decreases their time to

Needs Definition

Assessment and Selection Onboarding

dec eases t e t e toproductivity.

• Using evidence (i.e., relevant data and expertise) strengthens your voice in meetings with hiring managers, enabling you to firmly influence 4 2 Working Days

10.6% 7.0% 9.6%

3 7 Working Days 3 3 Working Days

Can increase quality of hire

by…

Can decrease time to productivityenabling you to firmly influence

how hiring needs are defined.


Organization Intel Talent strategy

4.2 Working Days 3.7 Working Days 3.3 Working Daysto productivity by…

Get Started

Evidence Documentation Template Use this template to document evidence about positions you recruit for regularly, and use this

id t i fl hi i d

Talent strategy

Market Intel Employer brand position Events at talent competitors Workforce trends Business trends


Source: Achieving Operational Excellence in Recruiting, CLC Recruiting, 2005

evidence to influence hiring needs.Prospect Intel Preferences

https://rr.executiveboard.com/Members/Popup/Download.aspx?cid=101126592

Help Candidates Filter Themselves for By conveying accurate information about the job

3


pJobs

information about the job, you can encourage candidate self-selection, thereby reducing the number of unqualified applicants.

Al t 40% f hi d

New Hire Rating of the Accuracy of Information Provided by the OrganizationPercentage of New Hires

• Almost 40% of new hires do not believe they got accurate information about the job, often leading to “buyer’s remorse”; this presents a huge opportunity to improve information accuracy.

Somewhat Accurate orinformation accuracy.

• When writing job postings, emphasize details about day-to-day responsibilities and describe qualities of the ideal applicant to help candidates filter themselves

37%

63%Nearly 4 in 10 new hires do not believe they got accurate information

Accurate or Less

Accurate or Very Accurate

filter themselves.

Intelligence You Should Use

about the job in advance.


Market Intel Employer brand position Workforce trends

Prospect Intel

Get Started

Checklist for Writing Clear, Compelling Job PostingsUse this checklist to create accurate job postings that compel only qualified candidates to apply. You

l li k h t th l i d l


Source: Driving to Win-Win Selection Decisions, CLC Recruiting, 2008

p Preferences Obligations

can also click here to access the e-learning module.


Source Where Other Sourcers Don’tBy uncovering undervalued pools of high quality talent

4


pools of high-quality talent, smart sourcers avoid cut-throat competition for high-quality candidates.

• Targeting sources that other it l k

Percentage of Sourcers Who Use Undervalued Talent Pools

Impact of Using Undervalued Talent Pools on Ability to Generate Leads

recruiters overlook can improve your ability to generate high-quality leads.

• Assess undervalued talent pools to identify and select those pools with high-quality t l t bl t t j b

24%20%

I t Abilittalent able to meet your job requirements.

Targeting

Impact on Ability to Generate

Leads


Organization Intel

Targeting Undervalued Talent Pools

Get Started

Undervalued Talent Pool Identification WorksheetUse this resource to uncover and select undervalued pools of high-quality talent.

Organization Intel Organizational changes

Market Intel Talent competitors Workforce trends Industry trends



Prospect Intel Preferences


Target Channels That Offer Quality, Instead of using channels that provide the most

5


g Q y,Not Quantity

that provide the most potential prospects, focus on channels validated by data and recommended by peers.

P d i d d t b t

Sourcing Channel Selection CriteriaPrevalence Among Smart Sourcers (Indexed to Average Sourcers)*

• Peer advice and data about how effective the channel has been in the past are valuable criteria for identifying channels that provide access to high-quality leads.

T il h l1.00x 1.00x1.00x

1.51x

1.26x

• Tailor your channel usage strategy based on the type of requisition such as high volume, senior-level, etc.

Average Sourcer

Smart Sourcer

0.75x


Historical DataPeer AdviceProspect Volume

Channel Selection Criteria

Smart sourcers use prospect volume as a criteria to choose their channels 25% less often than

Get Started

Sourcing Channel Evaluation Tool Use this tool to assess your sourcing channels and determine whether to focus on new channels.

Market Intel Talent competitors Workforce trends Industry trends

Prospect Intel Preferences

Smart sourcers use prospect volume as a criteria to choose their channels 25% less often than average sourcers do.


Perception of organization Sources of information



Timing outreach to coincide with events that create

6 Take Advantage of Events at Your Talent Go Back to Tactics Page

with events that create uncertainty for potential prospects increases their interest in your job opportunities.

R hi t t t

Impact of Events on Prospect Interest in Job Opportunity

gCompetitors

• Reaching out to prospects as requisitions open up (or are about to open up) is time consuming and often results in a low prospect response rate.

• Always monitor business and

Events That Drive High Prospect Interest

• Prospect’s organization announces layoffs

• Prospect receives a disappointing performance review

Events That Drive Moderate Prospect Interest

> 10%

industry news for layoffs, acquisitions, stock price fluctuations, and changes in senior management at top talent competitors, and reach out to prospects when these events occur

Events That Drive Moderate Prospect Interest

• Prospect’s organization announces an outsourcing initiative

• Prospect’s organization announces it is being acquired

• Prospect’s company’s stock price drops dramatically

• Prospect’s organization announces a change in senior management

1-10%

events occur.

I t lli Y Sh ld U

Events That Drive Low Prospect Interest

• Prospect’s organization announces it is acquiring another organization

• Prospect's direct manager leaves

< 1%

Get Started

Event Monitoring Worksheet for Recruiters and Sourcers Use this worksheet to monitor business and industry news and plan your subsequent outreach

ti iti


Market Intel Events at talent competitors Employer brand position Business trends


Source: Attracting Critical Talent in an Uncertain Economy, CLC Recruiting, 2010

activities.Prospect Intel Preferences


Emphasize Your Organization’s Focus your outreach messages on changing

7


p gDifferentiated Strengths

messages on changing prospects’ awareness and perception of your organization’s differentiated strengths to improve brand attractiveness. Relative Impact on Employment Brand Attractiveness

• Tailoring employment brand to prospect preferences is necessary but insufficient.

• When communicating with prospects, ensure that they do

t i l t

Changing prospects’ perception and awareness of your organization’s differentiated strengths can improve brand attractiveness by an additional 23%.13%

10%100%

not perceive your employment brand as generic or are unaware of the brand’s strengths as compared to other organizations.

77%


Organization Intel Organizational changes

Brand Tailored to Prospect

Preferences

Prospect’s Perception of

Brand Compared to Competitors

Prospect’s Awareness of Organization’s

Brand Strengths

0%

Components of Employment Brand Attractiveness

Get Started

Differentiated Brand Messaging WorksheetUse this resource to evaluate and differentiate your brand messages as compared to your talent

tit

Organizational changes

Market Intel Events at talent competitors Business trends Workforce trends Employer brand position

Components of Employment Brand Attractiveness


competitors.Prospect Intel Preferences

Source: Attracting and Retaining Critical Talent Segments, CLC Human Resources


Focus Engagement Efforts on Instead of keeping in touch with all prospects focus

8


g gTruly-Interested Prospects

with all prospects, focus your engagement efforts on prospects who are interested in the job opportunity and likely to switch (i.e. truly-interested prospects).

Behaviors Indicating Prospects Are Not Truly-Interested

Percentage of Prospects Who Exhibit Behaviorp p )

• There are three key types of prospects who you should filter out: window shoppers, embellishers, and attention seekers.

17%Window ShoppingEngaging with sourcers despite high job-switch barriers (e.g., mortgage, family)

seekers.

• Asking direct questions reveals little about prospects’ true interest; surface underlying indicators of their likelihood to switch indirectly.

11%EmbellishingSaying anything to sourcers to advance in the process

Intelligence You Should Use

9%Attention SeekingEngaging with sourcers for the attention of being recruited

Get Started

Uncovering Prospect Intelligence TemplateUse this guide to assess prospects’ true interest indirectly during conversations with them.


Market Intel Events at talent competitors Employer brand position

Prospect Intel



Preferences Obligations


Earn Prospects’ Trust Before Fostering Prospects are more likely to respond to outreach and

9


p gRelationships

respond to outreach and continue to engage when you earn their trust.

• More than half of prospects do not respond to initial outreach b th i

Impact of Sourcer Activities on Prospects Probability to Respond to Sourcer Outreach

because the sourcer is ineffective.

• Sourcers who focus solely on fostering relationships actually see negative results; providing believable information and

li i th t it

Probability to Respond

Fostering

Sourcer Activities

Networking with prospects without a job opportunity

11%

personalizing the opportunity helps you earn prospects’ trust.

RelationshipsLeading with a soft pitch (e.g., asking prospects for referrals)

Personalizing the opportunity based on prospect’s experience and interests 7%

4%

Earning Prospects’

Trust

prospect s experience and interests

Providing credible information about the job and organization 6%

%

Get Started

Prospect Outreach Diagnostic Ask yourself 12 questions to see if you are building prospects’ trust.


Prospect Intel Preferences Interests and strengths



Education and experience Reason for prior job move


Use Web 2.0 for High-Touch, Scalable One-to-many communication is as

10


g ,Engagement

communication is as effective as one-to-one communication in engaging prospects in a customized manner.

E i ith t

Impact of Type of Communication on Prospect Engagement

• Engaging with prospects on a regular basis does not necessarily have to be a time-consuming activity.

• You can use Web 2.0 channels such as e-newsletters,

t i d b f ti

9% 8%Scalable communication is as effective as one-to-one communication, making it possible to productively engage many prospects at once.Impact on

Prospect customized by function or areas of interest, to keep in frequent touch with many filtered prospects at once.

One-to-One Communication One-to-Many Communication

pEngagement

One-to-One Communication One-to-Many Communication

• Professional networking profile• Comments on blog post or article • Direct e-mail message • Social networking profile• Personal phone call

• Professional networking groups • Proprietary talent network • E-mail with targeted job postings • Social networking groups • Organization’s e-mail newsletter


Organization Intel Organizational changes Function-specific events Talent needs of organization

Get Started

Prospect Engagement Newsletter Template Modify this template to create customized newsletters that keep prospects engaged with minimum ti i t t

• Personal phone call Organization s e mail newsletter Talent needs of organization

Market Intel Workforce trends Industry trends

Prospect Intel Interests and strengths


time investment. Education and experience Preferences

Source: CLC Recruiting research




Resource


CLC Recruiting’s Ten Tactics for Smart Sourcingg g

Smart Sourcing Tactics Get Started with These Resources

1 Don’t Treat All Requisitions Equally Intelligence Value Questionnaire

2 Influence Requisitions You Source For Evidence Documentation Template

3 Help Candidates Filter Themselves for Jobs Checklist for Writing Clear, Compelling Job Postings

4 Source Where Other Sourcers Don’t Undervalued Talent Pool Identification Worksheet

5 Target Channels That Offer Quality, Not Quantity Sourcing Channel Evaluation Tool

6 Take Advantage of Events at Your Talent Competitors Event Monitoring Worksheet for Recruiters and Sourcers6 Take Advantage of Events at Your Talent Competitors Event Monitoring Worksheet for Recruiters and Sourcers

7 Emphasize Your Organization’s Differentiated Strengths Differentiated Brand Messaging Worksheet

8 Focus Engagement Efforts on Truly-Interested Prospects Uncovering Prospect Intelligence Template

9 Earn Prospects’ Trust Before Fostering Relationships Prospect Outreach Diagnostic

10 Use Web 2.0 for High-Touch, Scalable Engagement Prospect Engagement Newsletter Template












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