I was running a webinar with AmazingHiring yesterday about the topic: Building a Sourcing Function. Beside running my content about Sourcing Values, Models and Metrics I also wanted to understand what the audience thinks and does today. Therefore, I was using an interactive tool to get real-time replies on some critical sourcing questions.
There were 120-130 people constantly voting on the questions and the results, I believe, are super interesting.
Here we go:
- How many positions do you need to actively source on in a month? the majority said fewer than 6 positions/month (21% said: 1-3/month)
- Out of these positions how many do you fill with a sourced passive candidate? the average answer is 47%! (wow! not even every second position is filled with a passive candidate)
- And finally… how many hires do you make a year from truly passive candidates? and this is the most interesting answer, it is 15,2 hires/year as average (based on 107 votes) so less than 1,5 hire/month!
What does it mean then?
It very accurately says that hire is not the only value of sourcing (in other words: sourcing efforts will not always result in a hire). While passive candidate sourcing does contribute to the hiring machine it also provides other values that businesses MUST realize (and also appreciate 😉). Read more about the Seven Values of Sourcing here.
If you are about to build (or to improve) a sourcing function feel free to get in touch. I’ve gained 15+ years of international and global experience in this very topic. I’ve helped large-scale RPOs and global corporations but also supported smaller boutique agencies do sourcing extremely well.
Header photo by C Dustin on Unsplash