Make The Most of Your Recruitment Budget by Centralizing Your Sourcing Strategy

Effective sourcing lays the foundation for a successful hiring system—not just for a single hire, but for multiple hires across different industries and for the long term.

Sourcing is a multi-level process that involves the development of prospective candidate pipelines and implementing targeted job ad campaigns. Regardless of the sourcing strategy that you wish to employ, you can get the best out of sourcing by centralising recruitment and creating a core team to handle the entire recruiting process. Here, we discuss how and why centralising sourcing can be useful and effective with recruitment budgets.

Why centralise the sourcing and hiring process?

Centralising your HR department involves the creation of a dedicated recruiting team that actively works with recruiters or hiring managers, as well as candidates, throughout the entire recruiting process — from sourcing to onboarding.

The main purpose of centralised recruitment is to build more efficiency. It means that if a newly hired candidate continuously deals with the single HR person, right from the interview rounds till the onboarding process, and continues further to discuss other secondary HR issues when they arise, such as salary and increments, then it makes for a better candidate experience, as well as, employee experience.

A centralised HR team, one that understands all the aspects of the organisation’s hiring process, has benefits that are far-reaching and beyond the manual aspect of human resources. Particularly, centralised sourcing activities have the best potential to save money and time across the recruitment landscape. This is because effective sourcing lays the foundation for a successful hiring system—not just for a single hire, but for multiple hires across different industries and for the long term.

Streamlining the sourcing process is the key to centralising recruitment, which will reap immense favourable rewards. An investment in centralised sourcing can help you save your monetary resources by greatly reducing your haphazard spending on recruitment activities.

Why decentralisation doesn’t work?

In a decentralised hiring system, each department throughout the organisation individually handles their hiring activity. Hence, each department has to reinvent their process every time they hire a new employee. In this case, there is no proper method of sourcing — or rather inadequate sourcing — due to limited resources and skills.

Secondly, the departments mostly remain dependent on the hiring manager for recruitment rather than finding the best talent pool. Over the long term, this kind of recruiting will only increase your overhead costs with poor quality of employees, increasing the burden of bad hires and rehires.

By centralising recruitment, you can build a focused talent acquisition as well as a talent management team which can together create an effective sourcing and hiring process to achieve more successful outcomes for every candidate search.

This process simply negates the uncertainties of a decentralised process. In centralised recruitment, a dedicated team that is aware of the different hiring needs of multiple departments across the organisation can simply diminish the inefficiencies and improve the overall candidate experience. It will ultimately lead to better candidate quality and better new hires.

In centralisation, no candidate gets overlooked

Centralising your HR department creates a robust hiring strategy, wherein the talent acquisition team is compelled to think for the long haul, resulting in quality sourcing of candidates. For instance, one of the greatest sources of quality candidates is the top-of-the-line candidates who did not get qualified for previous job interviews.

The centralised recruiting team can match the new job description, which requires similar skills like that of the past job openings. In a decentralised recruitment process, hiring decisions are divided across different departments in the organisation. Therefore, you will hardly observe any cohesion in their recruitment activities.

In fact, there would be an extreme lack of communication between the two given departments. It results in losing out on this extremely crucial resource, despite collecting vast information about past candidates who have already been through the entire process but are left underutilised.

Centralisation + Right Technology = Success

Centralised sourcing is about creating a core hiring team that has a clear understanding of the recruitment process and can make meaningful contributions towards the talent acquisition and management efforts of your organisation. Such a team could also create an elaborate method of recruitment which makes the recruitment process more efficient. By centralising recruitment and sourcing HR managers, recruiters can implement the benefits of the latest technology to optimise the effectiveness of their targeted job advertising. Centralised sourcing allows for a broader approach to job advertising on target job sites avoiding haphazard spending and saving your monetary outflow.

For instance, if your organisation has a focused hiring team to deal with many job openings simultaneously, this team can apply the latest job ad technologies to organise their multiple ad campaigns for openings across different job sites and reap better ROI on their investment.

AI-assisted job ad platforms can utilise the historical data available for the marketing campaigns to reach the best online sources depending on the job type. Moreover, this job ad technology helps you get the maximum out of your limited budget without compromising on quality. Plus, it helps with the efficient budget allocation, as the algorithm evenly distributes your money in various campaigns to optimise the performance of each job ad, maximising your budget in the process.

The biggest goals can be achieved by a group when it is led by a focused central leadership. The same fundamental applies to recruitment. By centralising sourcing and recruitment, you allow your recruitment task to be managed by a core talent acquisition team and talent management team, bringing in more efficiency to the process by maximising your recruitment spends.

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One of the prime contributors for this blog, Expertise in Staffing and Recruitment, Content Strategist by Profession. A Music Lover & Traveller by Choice.

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