The untapped talent pool you are missing out on – 75% of the workforce
Hiring managers- don’t you wish there was an untapped pool of qualified, talented candidates ready to interview for your next opening? I’ve been there, spending valuable time interviewing multiple candidates without ever finding the perfect fit. Sometimes even seeing the same resume come across your desk multiple times for vastly different roles.
Having been a hiring manager for 10 years with companies like Nike, Inc. and Gerber Childrenswear, I know first-hand the challenges you’re facing. The good news is, we partner with hiring managers to overcome these hurdles effectively and efficiently. Below are a few ways we tackle saving both time and money.
In addition to the lost time spent sifting through less-than-ideal candidates, interviewing multiple applicants also comes at a cost to your business. We all know the feeling of spending too much time filtering through resumes and conducting too many interviews. A cost often overlooked is after an offer letter is sent, there is a good chance you missed out on an opportunity to interview and hire an even better, more qualified candidate. A candidate with the specific skill sets, experiences, and background you were looking for.
“These are high performing, loyal employees with better tenure, less turnover and most of them aren’t currently interviewing with anyone else!“
The typical process of posting a job opening to an online job board, or partnering with a staffing agency do the same for a temporary/ contract position, means you are missing out on three quarters of all job seekers. Job seekers that are some of the most qualified and high performing candidates in the country. Regardless of the number of online job boards you post to, and no matter how many applicants you reach with your posts, you’re still missing out on 75% of the entire workforce… talk about FOMO! (1)
Once you progress to interviewing the chosen applicants, it can often feel like endless rounds of screening interviews without finding the ideal candidate. I compare it to posting a ‘wanted’ ad on Craigslist.
Proactively Sourcing Talent
You’re hoping that someone selling exactly what you’re looking to buy sees your post and reaches out to you.
If you’re shopping for a specific item, for example let’s say a new microwave, do you usually post a wanted ad online, or do you actively research and shop for the exact model you’re looking for? I have a feeling I know your answer.
You’ll have a much better chance at finding the exact microwave you’re looking for (and at an affordable price) if you actively shop for it, rather than create a post online and wait for the microwave to find you.
If you do choose to wait for a seller to find your ‘wanted’ ad online, odds are you’ll be waiting for a while, and will most likely have to make some sacrifices on the actual microwave you end up purchasing.
The same principals hold true when needing to hire for your business.
Human resource and hiring decisions are the most important decisions you’ll make as a hiring manager.
Passive job seekers are defined as members of the workforce that are currently employed, are open to new opportunities, but are not actively seeking new opportunities via online job boards, networking etc. Passive job seekers make up 75% of the entire workforce! Often, this subset of the workforce includes some of the highest performing candidates out there, and most of them aren’t currently interviewing with anyone else! They are high performing, loyal employees with better tenure, less turnover, and are simply too busy working in their current role to actively search for their next career opportunity. By actively recruiting these candidates for your next opening, your organization will quickly see exponential returns.
This is where Five Point Consulting specializes and excels. We never have, and never will, post an opening for one of our partners on an online job board. Any recruiting firm that posts an opening to an online job board isn’t helping their partner/client find new candidates they wouldn’t already be able to find on their own.
Utilizing our extensive network, the latest talent sourcing, recruiting, and networking tools available, we help find you passive candidates to ensure you make the absolute best hire possible, elevating your business and organization to the next level.
To your future success!
Five Point Consulting
(1) Source: https://business.linkedin.com/talent-solutions/blog/2013/12/recruiting-active-vs-passive-candidates