This article was originally published on Sourcecon.com
What if I told you that you could predict the future? Predict when a passive candidate will be ready to evaluate a new opportunity? Not by using a crystal ball or a psychic, but with the use of analytics to predict a candidate’s behavior, tendencies and therefore, their likelihood to change jobs.
Let’s talk about change for a minute. We’re all familiar with the famous quote, “the only thing that is constant is change.” This thought holds true for all facets of life, but particularly in today’s fast-paced business world. Just in the last 30 days in the U.S., 20 mid- sized software companies filed for bankruptcy or restructuring, 800 hospitals or healthcare systems merged or were acquired and 637 mid-sized financial service entities experienced leadership changes.
As a sourcer, what does this mean for you? For obvious reasons, doing your research and staying up to date with major company news announcements provides a competitive advantage when it comes to passive candidate recruiting.
But let’s take this even a step further. The real magic happens when a sourcer or recruiter understands which type of change affects a particular candidate’s availability.
Understanding Availability Signals
Every employee, depending on their job function and job level, are affected differently by changes within a company.
Let’s take a sales account executive working for Company XYZ for example. If you know that Company XYZ is underperforming and currently not meeting their goals, then it is fair to assume that their sales team is also not meeting quota. Not hitting quota means they aren’t getting paid. Not getting paid means they are very likely to jump ship at the next opportunity presented to them.
What about HR professionals? What makes them tick? Compliance and regulation issues, of course. A company experiencing problems in this area suggests that their HR team is feeling uneasy and therefore, much more likely to have “wandering eyes” when it comes to other job opportunities.
Another company is impacted by a data security breach. While causing various major implications and uncertainty for the organization, the technical staff’s ears will perk up the next time he or she receives a call from a recruiter.
With Great Knowledge Comes Great Power
Understanding a candidate’s sensitivities to change and underlying motivations could be the key to predicting near active prospects and getting ahead of the curve when it comes to passive candidate sourcing.
The Predicting Process
You know the why, now let’s talk about the how. How do you go about finding and using this data?
Step One – Identify Target Companies
Step Two – Collect Candidate Information
Step Three – Watching & Waiting
Step 4 – Reach Out
As sources, you aren’t ultimately responsible for making the hire, but delivering prospects that are more likely to engage with your recruiters is still a top priority. By identifying talent that is more likely to consider a new opportunity, you are increasing hiring odds and stacking the deck in your favor, so to speak. At the end of the day, a sourcing win is about finding the right candidate at the right time.
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