Purple Squirrel Technologies Brings Artificial Intelligence to The Sharing Economy and Human Resource Professionals
All talent acquisition professionals want to make successful hires. You work hard to network and find the right person, post job advertisements and search resume databases for hours on end, you make tough decisions on who to call or maybe who not to call, and give it your all in hopes to uncover the perfect candidate. However, because there are many methods and sources used to find talented professionals, it can be very time consuming and most times your efforts won’t immediately result in a hire.
But… wouldn’t it be nice if you could save yourself some time and simply share the resumes you find with other HR professionals, and in return they share the resumes they find with you so that everyone gets what they want and can hire faster?
Aside from quickly getting the talent you need to fill your open jobs you would also benefit from sharing a resume or two in a variety of ways.
Here are 5 ways sharing resumes can benefit you and your company.
1. Reach More Diverse Talent Pools
With tens of thousands of Job Sites and niche sites, thousands of organizations, 100’s of social networks, aggregators, referrals, personal relationships, etc… it can be quite cumbersome and time consuming for a talent acquisition professional to use them all. Not to mention expensive. Realistically a talent acquisition professional can effectively use a handful of resources at a time with the help of a good ATS systems. But that still leaves an extremely large percentage of resources and potential candidates untapped.
Sharing resumes with other HR professionals that are using different resources and different approaches to acquiring talent can help close this gap. Imagine a network where every member added, shared the additional candidates found by using resources that your company may not use. This creates a growing talent pool pre-screened candidates!
2. Increase Diversity
Let’s face it, the talent acquisition landscape has changed. Gone are the days where you sourced hired the same cookie cutter candidates. Companies realize that they can benefit from having employees with different ideas, different experiences, different backgrounds, and different insights.
A positive side-effect of sharing is increased diversity. It enables you to benefit from the diversity recruiting approaches used by other HR professionals to attract a mix of talented professionals. Diversity can fuel growth by increasing innovation, creativity and can even lead to reduced candidate turnover.
3. Reduce Cost Per Hire
There are a lot of factors that go into accurately computing costs per hire. For example, one has to factor in external costs, internal costs, number of hires within a time period, the external cost of advertising and marketing jobs, third party agency fees and other sourcing costs. These can add up quickly!
Talent sharing can help reduce these costs and in some cases eliminate them! Sharing resumes that you have already sourced and exchanging those resumes for new resumes that you may not have had access to reduces the need to repost job advertisements and can save you time. An active network of HR professionals to share resumes with can be your biggest resource and help reduce the reliance on costly third party recruiters.
4. Reduce Time to Fill
As the economy improves, the need to increase headcount will rise. “Time to Fill” is a KPI of any successful talent acquisition team. It helps measure individual recruiter performance and gauge the effectiveness of an organization’s strategic workforce planning. The more time it takes to fill an open position the more productivity can suffer as employees take on extra work. Positions that are open for extended periods of time can increase cost per hire and affect not just 1, but 2 KPI’s.
Sharing a resume or two in exchange for new resumes you can potentially hire, takes seconds. You instantly benefit from the sourcing work performed by other HR professionals. An active talent sharing network can reduce the time it takes to produce a viable candidate from days and weeks to seconds and minutes.
5. Improve Efficiency
As HR departments are shrinking, the workload is increasing and the search for talent remains a growing challenge. It’s no secret that candidates are more likely to abandon the application process when the application is too long or confusing. The top candidates are usually off the market within 10 days, so speed to lead is critical.
Resume sharing can easily fit into any corporate hiring strategy. With an active sharing network, you can streamline the hiring process and quickly forward qualified resumes to hiring managers.
Sharing not only benefits the companies involved, it also benefits the candidates looking for employment whose resumes are being shared with HR teams.