How to Source Talented Labor:  Steps for Finding and Securing Talent

 

How can organizations acquire the talent they need? This blog post explores sourcing options in detail and provides helpful tips for executing your organization’s Talent Acquisition strategy.

In today’s world, finding and acquiring talent is a challenging task. Organizations should evaluate their sourcing options and the factors that might change these decisions before embarking on a talent acquisition process.

Imagine you are a marketing manager at a large enterprise organization. In this case, you would need copywriting help for basic blog posts, website content, and video content. You estimate the work time requirement is 60 hours per month.

After assessing the skills and time commitment you need, you determine it may be challenging to find one person with all the required expertise, and your budget is limited.  Your HR advisor gives you four paths to find the talent your department needs.

There are four labor categories you could consider adding to your department:

  1. Freelancers
  2. Full-time employees
  3. Part-time employees
  4. Contingent labor

Freelancers:

  • Flexible in terms of cost because you can buy hours as needed;
  • Freelancers are not always a good investment, as they can be expensive and take time to find, and train.
  • Freelancers are also known as “gig workers.”

Full-time Employees:

  • It can be costly because you need to pay benefits and wages; however, it can help you keep talent on your team long term.
  • It is less flexible than other types of talent sources and more costly, should staffing changes be made.

Part-Time Employees:

  • It is a good option for those who need only part of the time commitment, but it can be challenging to find talent that meets all requirements.
  • Some employers may consider offering reduced benefits or wages for part-time employees over full-timers, which could save them money in some cases.

Contingent labor:

  • These engagements can range in length, from short-term or temporary jobs, often contracted or project-based – a great way to stay responsive and cost-effective.
  • Flexible type of labor preferred by candidates, providing value in work-life balance, remote working capabilities, and the ability to acquire diverse skills. 

4 Steps for Finding and Securing Talent

Step One: Identify Your Needs

Find out what type of labor you need by considering all of your staffing needs, not only present but future. Identifying your needs includes the duration and timing of when the talent is required, budget limitations, and required skills.

Step Two: Identify Your Options

Organizations should evaluate their sourcing options and the factors that might change these decisions to be prepared for an upcoming talent acquisition process.  As identified earlier in this blog, sourcing options include four labor categories as follows: Freelancers, Full-Time Employees, Part-Time Employees, and Contingent Labor. 

Step Three: Evaluate Options

Organizations should evaluate sourcing options while considering factors that may change those decisions. For instance, will a freelancer cost too much to train, whereas a full-time employee may cost too much after providing benefits? Will part-time work cover our organizational needs?  Perhaps contingent workers may bring necessary experience at a competitive cost.  These are all questions that need to be addressed internally during this stage of evaluation in a Talent Acquisition strategy.

Step Four: Choose Your Talent

Organizations must carefully select talent acquisition options that will meet their goals and operations while also considering the expenses of new employees.

Organizations should have their sourcing strategy developed before acquiring labor as this will help them save money and minimize wasted efforts. The type of work, skills needed, as well any other limitations or opportunities will determine the strategy.

After carefully reviewing all of the options, you decide it may be best to source candidates in every category. Hence, you have a pre-screened pool of candidates available as business needs change. 

In this post, you learned how to create your talent sourcing strategy. In our next blog post: Why Sourcing is So Incredibly Complex in the Workforce of Today we’ll guide you on executing your plan and offering tips on making it easier for yourself and your organization.

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 candidates with a seamless hiring experience while simplifying supply chain complexity and reducing cost.

Our mission is to transform how organizations engage and acquire talent. We won’t stop innovating until all work seekers, regardless of work type or background, are seen equally for what they are…people.

For more information, visit talentnet.com