This month Courtney discusses Talent Networks.
MySpace. LinkedIn. Facebook. Social networks are everywhere and top of mind with many recruiting and staffing departments. After all, networking is a critical component to recruiting. The explosion of the Internet in this area has created greater accessibility and broader reach to desired groups and individuals.
Consider too the low rate of unemployment and an anticipated labor shortage, and there is no question that competition for talent is on the rise. People currently employed are the best-and sometimes only-candidates, and they aren't searching job boards or company career sites for an opportunity. An effective way to reach them is through networking. However, the passive candidate requires more attention and a certain level of relationship marketing to ultimately convert them to an active candidate.
Relationship marketing is becoming an essential component of every employer's recruitment strategy and is a creative and differentiating way to reach the target audience. Attracting and hiring top talent requires making an investment in an individual long before they decide to work for an organization. This is one method of ensuring a company's efforts are successful.
The trend is catching on. Respondents to the 2006 Direct Employers Association Recruiting Trends Survey indicated that as a whole, they intended to increase their usage of social networking technology in 2007 by 60%. Only the use of employee referrals and organizations' websites were expected to increase at a greater rate.
Many companies have restructured their staffing departments to include dedicated "sourcers" - teams who mine online databases and peruse social networks, user groups and blogs in search of the elusive passive candidate. This is an excellent first step, but those companies who have taken the time to invest in a structured program encouraging continual engagement will ultimately see a greater return on investment.
The most robust programs are typically supported by a CRM system or similar technology, which is ideal for creating and maintaining a talent network. The technology allows recruiters to capture leads, manage databases and push communication to encourage candidate engagement. Companies use various tactics to build this network, including traditional & online networking, as well as through advertising strategies that reach the passive candidate. These include search marketing and sponsorships on consumer sites like CNN and Yahoo! that tap the audience where they get their news & entertainment. The candidates reached by these tactics might not be ready to submit an application, but they would likely be open to receiving information about future opportunities.
It is important to note that while technology will certainly help to facilitate a relationship marketing program, there must be a commitment of company resources to network with leads. Candidates will very quickly disengage if there is limited communication and a lack of perceived value. With all of the recruiting technology at our disposal today, there is still no substitution for human touch.
Questions? Comments? Email me at courtney.hub@tmp.com