access the best contingent talent faster and at a lower cost
With agility becoming increasingly critical in today’s ever-changing market conditions, more companies are tapping into flexible labor to access critical skills while staying agile. According to the 2021 Talent Trends research one in five organizations are planning to convert permanent roles to temporary ones this year — reversing a multi-year downward trend. With increased competition for contingent talent, how can you attract and build relationships with the best temporary workers?
what is direct sourcing?
To build a high-quality and engaging flexible talent supply chain, more organizations are implementing direct sourcing as part of their contingent workforce programs. By attracting and procuring flexible talent without the need for a supplier, direct sourcing is a way companies can efficiently identify, acquire, deploy and build relationships with contingent talent using their own employer brand.
By developing and using a branded talent pool, direct sourcing offers a more agile and talent-centric model of engaging with and deploying flexible workers. You use the power of your employer brand and managed contingent talent pools to engage high-quality flexible talent more quickly. You can also realize greater cost savings, as this approach minimizes the use of third-party contingent talent suppliers.
how does direct sourcing work?
Organizations can choose to implement direct sourcing themselves, via a third-party provider or with their managed services provider (MSP) to incorporate direct sourcing into their overall contingent workforce management program. How do you know which option is right for you?
While initiating direct sourcing on your own gives you the greatest control over the program, it is also very time-consuming, resource intensive and costly. Developing and managing talent pools, technology and workflows require expertise, resources and buy-in from within the organization.
Working with a third-party provider offers benefits such as employer branding expertise and offloading management of your talent pools. Including direct sourcing in your managed services program (MSP) delivers these advantages and more.
Direct sourcing through your MSP doesn’t just focus on staffing and filling requisitions, but rather getting you the best talent in the shortest time and at the lowest cost through a more holistic approach. Based on relationships with your business and hiring managers, and with HR services expertise, your MSP is able to look beyond the job description to find you the right talent with the right skill sets to get work done.
The most effective direct sourcing models are built on comprehensive market insights and data analytics. Whether delivered through a managed service program or as a standalone branded talent pool model, this insight can provide an accurate assessment of talent availability across many roles and geographies, enabling contingent workforce leaders to select the most appropriate and cost-effective channels, such as suppliers, to procure resources.
Seeking to build a ready-to-go contingent talent bench, a leading healthcare company recently implemented a direct sourcing program with Randstad Sourceright that combines talent targeting, a managed talent pool portal and development of the company’s contingent talent brand. In the first six months of the program, the company has created a talent pool of more than 2,000 skilled and temporary contractors, and achieved over €125,000 in savings.
direct sourcing and branded talent pools with Randstad Sourceright
As a leading talent solutions provider, Randstad Sourceright’s global footprint and strong track record in staffing and recruitment process outsourcing (RPO) mean that we have the expertise and experience to directly source most, if not all, of your contingent workforce roles.
With an in-house talent marketing team, we have the expertise to enhance your employer brand and design marketing campaigns that build and nurture highly engaged contingent talent pools.
Our tech and touch approach and passion for continuous innovation means that we are always vetting and deploying the best technologies to support you. Together with the power of our TalentRadar analytics platform and Randstad Market Insights, you get truly unique workforce data and intelligence to help you acquire the right talent at the right time for the right cost.