We’re thrilled to announce the launch of a new product at RecruitLoop – Sourcing as a Service. It’s an entirely new product for us as a company, developed in response to a clear market need and feedback from both sides of our marketplace. We’ve been testing it privately over the past few months, and the response has been phenomenal.
What is sourcing?
We’re often asked about the difference between recruiting and sourcing.
For a long time they were viewed as one and the same. Historically, you could post an ad on a job board, receive applicants and make a selection. For some roles this remains true. But for a growing number of industries, roles and locations this just doesn’t work. Great talent is hard to find, and you need to be proactive to identify and contact potential candidates.
Recruiting and sourcing are increasingly recognized as distinct activities with very different goals and outcomes, requiring very different skills and processes.
Surprisingly, the actual definition of these activities is somewhat of an open question in our industry. It’s something we’ve considered deeply in developing the service.
For the purposes of our model – and importantly, to meet the need we were consistently seeing among our clients – we consider:
- SOURCING as the act of identifying prospect candidates who fit a target profile. It involves a distinct process of researching and discovering profiles online using things like boolean strings and x-ray searches, alongside new technologies and creative techniques. A true expert at sourcing is generally more comfortable (and productive) in front of a computer than in an interview room. And even with the most leading edge technology and tools, it can be an incredibly time-consuming and laborious process.
- RECRUITING as the act of contacting, screening, selecting and closing a candidate. It involves one-to-one contact with a candidate – sometimes (gasp!) in person. The full process of ‘recruiting’ is often shared between many people in an organization, both internal and external. For example, while one person (say an internal recruiter or HR Manager) will do initial screening and phone interview, a different person (the hiring manager) might run longer interviews and make the final decision. They’re all doing ‘recruiting’ in some way.
Now, some recruiters can do sourcing and vice versa. It’s a live debate in our industry – particularly on the question of who makes initial contact with a prospect candidate. But we see these activities becoming increasingly differentiated, as the skills and techniques to be a true specialist become harder to master. We also observe the best talent teams in the world structuring different roles and functions around these different areas.
What’s Sourcing as a Service?
We’ve developed Sourcing as a Service in response to consistent requests from a range of folks in our marketplace. For example, from:
- Internal recruiting teams (and external recruiters) – wanting to become more productive, focusing on candidate outreach, selling an opportunity and ultimately closing candidates.
- Startup founders – looking for world-class talent, wanting to control the messaging and candidate experience from the very first contact. Interestingly, companies of all sizes are finding wildly different response rates from prospect candidates depending on who makes the initial contact. For a startup it should be the founder or CEO (not an external recruiter). Larger companies like Facebook have found better response rates when engineering prospects are contacted by a peer; whereas manager or VP candidates are contacted by a direct report.
- Hiring managers – thinking strategically about long-term hiring needs, wanting to map and benchmark all potential talent for a function, to start to building and nurturing relationships.
Sourcing as a Service meets all of these needs.
How does it work?
We use a combination of world-class techniques, technology and data to identify prospective candidates that match your target profile. We’ve developed repeatable processes to this at scale, delivering high volumes of candidates at unmatched speed and with exceptional quality.
There are 3 steps to the process:
- Identify the characteristics of your target candidate. This is a short form that takes no more than a couple of minutes to complete.
- Calibrate initial profiles. You receive 5-10 matching profiles within 24 hours, to review how well they match your target.
- Develop the full list of matching profiles. Once you approve the calibration, you receive a full list of 100 matching profiles.
As a customer, you can purchase:
- Single sourcing project. You buy a single list – currently 100 names for $500. You can repeat this as many times as you like, whenever you have a need.
- Ongoing sourcing support. If you have larger or ongoing needs (e.g. an internal recruiting team with large numbers of reqs), we can also setup ongoing engagements of 3, 6 or 12 months. You get guaranteed sourcing capacity, with a fixed number of profiles delivered each month.
What do you get?
As a customer, you’re delivered a list (usually a spreadsheet) of candidates who meet your profile, with contact details and LinkedIn profiles. You get it quickly – usually 48 hours after approving the calibration. From there, the data is yours. You can contact prospects yourself; enter them into your ATS; or engage a recruiter to help with screening and outreach.
What if I need help after that?
Funny you ask! We have a globally vetted community of independent recruiters, who would love to help. We can match you with a recruiter to help with outreach, screening, or interviewing – as much or little as you need.
When you’ve engaged a RecruitLoop recruiter, you also get a 20% discount on Sourcing as Service.
Curious to learn more?
Checkout *Sourcing as a Service* and post a project now!