What’s in it for me? Why a talent value proposition is key to any Direct Sourcing strategy
Talent is the lifeblood of any successful organization. Sourcing and retention are two key pillars for cementing and advancing any company’s vision. But where should Curators go to both find the best talent and acquire them?
The answer is more often-than-not right in an organization’s own backyard. Through a successful Direct Sourcing strategy, companies are able to leverage their brand power. This way, Curators can build talent pools with candidates who have already decided that the organization’s value proposition is enough to engage their services. This is why creating a solid value proposition is essential in any talent acquisition strategy.
What is a talent value proposition?
Every organization exists based on a value proposition, which is an extension of their brand. This is a simple statement that summarizes why a customer would choose its product or service. It communicates to external clients in clear terms why they should do business with you. The better the value proposition, the more market share is achieved. The same is true for a company’s in-house talent pool. Curators sourcing talent within an organization are at a massive advantage if they can provide talent a means to meaningful advancement or lateral job opportunities from within.
The value proposition concept can also be used effectively for internal success.
Value propositions should include:
- Compensation and benefits
- Career development opportunities
- Positive company culture/values (including work-life balance and work from home options, if possible)
How can companies leverage their brand / value proposition to build talent pools?
Companies have traditionally relied upon third-party intermediaries to identify, engage, and ultimately hire candidates for job positions.
However, this process can take weeks – if not months – to complete, leaving the company short on talent, and playing catch-up to backfill vacant roles. Here are some ways to leverage a value proposition for long-term growth:
- Align your talent acquisition strategy with your business goals. Look at your company’s strategic plan and its goals over the next fiscal years and tailor your acquisition strategy to meet those needs. Look within the organization first for the best talent to fulfill the objectives set out.
- 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. Leverage 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.
How can companies connect with current talent?
There should be a direct, easy way to communicate opportunities for talent within an organization. A recent study by Gartner found many workplaces are facing the following critical issues with regards to retention of talent:
- Nearly three-quarters of CEOs expect a shortage of workers or skills to disrupt their business in the next year; half cite retaining talent as one of their biggest challenges.
- When workers leave, they take with them valuable institutional knowledge. Failing to capture these intellectual assets has costly repercussions.
- The best way to maintain a company’s collective memory is to create a process for safeguarding mission-critical information, promote a culture of continuous knowledge transfer and reward workers who help execute this initiative.
TalentNet’s One Doorway solution allows hiring managers and curators to attract an array of talent. This includes contingent candidates, part-time and full-time, from a myriad of industries.
Using a single access point for talent, curators can source and match for both existing and planned roles, encouraging workers to build their dream career paths within the organization. This bypasses unnecessary third-party talent acquisition costs.
The use of talent acquisition software, like TalentNet’s newest TalentMobility platform, allows current workers to join a talent community or apply to new positions in just 60 seconds with the help of AI-enabled tech. Candidates enter their qualifications and the software matches them to their preferred positions. Companies who implement a Direct Sourcing strategy using talent acquisition software realize a 15% cost savings.
Through this platform, companies can nurture connections with existing talent while helping workers build their ideal career paths.
Acquisition from the best talent pool… yours.
Curating for talent outside of the organization uses up time and resources inefficiently. By implementing a One Doorway to talent strategy, your company increases its chances of aligning its talent acquisition strategy with your business goals and strengthening your company’s brand identity long-term through a proven retention solution.
To learn more about TalentNet’s platforms, like TalentMobility, request a demo here.