Rethinking Talent Acquisition: Why Job Postings Aren’t Enough

Published February 21, 2024

In the world of talent acquisition, the traditional approach of starting a job search by posting openings online has long been the norm for many Human Resource and Talent Acquisition teams. However, this approach doesn’t always yield the best results, especially when it comes to securing top-tier talent within an industry.

While approximately 30% of the workforce is actively browsing job boards, a staggering 87% are open to new opportunities. This means that by solely relying on job postings, organizations are targeting a fraction of potential candidates, missing out on the vast majority of talent who are not actively looking but are open to new opportunities if presented effectively. By engaging with a recruiting organization, you are approaching that additional 57% of candidates who are even stronger passive candidates.

So, who are these passive candidates, and why are they so crucial? Passive candidates constitute the bulk of the workforce and often include high performers who are currently employed but would consider switching roles if the right opportunity arises. They may be underutilized, underappreciated, or even underpaid in their current positions. However, they are less likely to actively seek out job postings, primarily due to loyalty to their current employer or a lack of understanding that better opportunities are out there waiting to be filled. Contrary to common belief, tapping into this pool of passive candidates can be more beneficial for organizations. In fact, passive candidates are 40% less likely to leave an organization within six months compared to active candidates.

Hiring an Executive Search Firm becomes a necessity when most Human Resource or Talent Acquisition departments simply do not have the time or resources for actively networking, recruiting, and selling top tier passive candidates. Recruiters can tap into a workforce three times larger while often being significantly more effective at their job.

In essence, the traditional approach of job postings as the primary method of recruitment is limiting organizations’ access to the best talent available. By shifting the focus towards passive candidates and partnering with executive search firms, companies can unlock a larger pool of talent, improve retention rates, and ultimately drive greater success in their recruitment efforts.

As the landscape of talent acquisition continues to evolve, it’s essential for organizations to adapt their strategies accordingly. Embracing innovative approaches and recognizing the potential of passive candidates can give companies a competitive edge in attracting and retaining top talent in today’s dynamic job market.

References:

“Job Search Statistics” – Apollo Technical: https://www.apollotechnical.com/job-search-statistics/

“The Top 10 Skills Recruiters Are Looking for in 2021” – Forbes: https://www.forbes.com/sites/forbeshumanresourcescouncil/2020/11/09/the-top-10-skills-recruiters-are-looking-for-in-2021/?sh=677a72697e38

If you’d like more guidance or want to have an open conversation about your talent and hiring needs, please reach out to Comhar Partners.

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