Sourcing is typically done by casting a wide net out to one or more job boards. This approach works fine for candidates that are actively searching for a new position, but what if you want to tap into those that are currently employed and not looking? Perhaps you’re even interested in finding top notch candidates who work in similar positions in competitive companies. Passive candidates, as opposed to active candidates, cannot be found in a search of resume and job board postings. To find these candidates, Passive Candidate Development should be used.
With Passive Candidate Development, the recruiter directly sources talent from those currently employed and not actively in the job search process. Passive Candidate Development, also known as direct sourcing, focuses on finding qualified candidates currently in management positions from a list of targeted competitors. Once a list of names has been generated, candidates are identified and cold calls are made to each target candidate presenting the job opportunity. When the process is complete, qualified, available, and interested candidates are found to enrich a company’s talent pool. Sourcing specifically those passive candidates using this service will takes more time as candidates must be convinced to leave their current position. Using an RPO for Passive Candidate Development can take the time consuming and stressful pressure of the recruitment process off of the internal recruiters and Hiring Managers. This service has the unique ability to provide an organization with a higher caliber of skilled and qualified candidates than the company would normally come across with other forms of sourcing. With a focus on finding candidates currently employed in similar positions, this approach can find a diverse list of candidates within a similar industry and geographic area.
At Hire Velocity, we have had extensive experience using Passive Candidate Development for leading companies. Over just an eight-week period we were able to target 6,000 names, leading to 9 hires for a leading global management consulting firm. This significantly reduced their cost per hire, saving them about $8,000. Many benefits come with choosing to use Passive Candidate Development. Costs for high priced executive search fees can be reduced and new pipelines can be built with these types of candidates. This service results in a higher quality of hire and because of their specialization in the field, these candidates require minimal training.