Sourcing – Data Technology
Sourcing is part of the Procurement process. What is sourcing anyway? Sourcing, as the name implies, is locating sources of goods and services a company needs. But sourcing of people? Yes, that’s a thing and that’s what we specialize in.
Sourcing is procedural and follows a number of well-defined steps. First, there’s an understanding of the need and the supply market. Then there’s the development of the strategy for the sourcing effort. Then it is developing the criteria for identification and selection. Then we get into selection and negotiations. After that, we get to agreements. And then we make sure we follow a continuous improvement process for this type of sourcing going forward. This is just standard practice for sourcing in Procurement and we follow it.
Sourcing is different than recruiting. Sourcing
- focuses on the talent pipeline side of the equation, not on the application, interview, and hiring side
- goes in-depth into sourcing methodologies
- is more of a sales role and is selling the benefits of working for the organization
- is more proactive, seeking out and making contact with both passive and active candidates
- involves a lot more networking and research
Many organizations have a strong recruitment team but the recruiters face challenges with sourcing. Some challenges commonly faced are:
- understanding the job role
- low number of candidates
- low quality of candidates
- competition from rival companies
- difficulty getting in touch with candidates
- knowing optimal channels for sourcing
- managing of the pipeline
- lack of time
- lack of resources
- lengthy time to hire
- not knowing best measurements for fit
Sourcing is not recruiting. We are sourcing specialists. We use intelligent systems, human intelligence, and a specialization only with data technology to perform the sourcing role for our partners. We do the sourcing so our partners can focus on the hiring.
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