The best talent sourcing channels alternatives

October 6, 2022

10

minutes read

Benjamin Marsili

Benjamin Marsili

Founder & CEO

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Whire's alternatives 

The recruitment industry has greatly changed with the emergence of online recruitment platforms. 60% of candidates use job dashboards to find a job. Yet, we’ll see through this article that the HR Tech ecosystem is particularly in dire need of better talent acquisition solutions. 💪

How do external referrals measure up to traditional talent sourcing strategies?

LinkedIn vs Whire: Are Job Boards Dead?

Different job boards exist, let’s begin with the most obvious one: LinkedIn

By definition, LinkedIn is a business and employment-oriented service that allows job seekers to apply to jobs and companies to post jobs. It’s used worldwide.🌏LinkedIn is really efficient and usually, every job opportunity leads to a solid number of applicants. 

However, recruiters encounter issues with LinkedIn because it’s highly time-consuming 🕰for recruiters to sort and check applications. 🗂 Why? Because job-seekers often mass apply to jobs and it doesn’t allow them enough time to read carefully the job description. Sometimes, they apply to jobs they’re not very qualified for or sometimes, they are not even interested in the job. All in all, pre-screening and screening applications from LinkedIn is time-consuming, all the while job ads bills pile up and the future hire is still nowhere to be found.

Recruitment agencies  vs Whire: Are Recruiters Dead?

Employment agencies help employers find employees for full-time positions.

Employment agencies are convenient and efficient but the cost of one hire is usually very high.💸 

Agencies will ask for 15-30% of the employee's first-year salary to the company in Singapore. Furthermore, their only objective is to find a good applicant to be paid but most of the time it’s not the best fit. The recruitment agencies are doing mass recruitment and therefore it lacks personalization. Recruitment agencies will sell to you candidates but referrals will enable to interact with someone who directly knows the person. Hence, you’ll be able to have a clear idea of how the candidate behaves in a working environment. 

The process is usually longer and the candidate experience tends to be less attractive and qualitative. And this is not something you want! We already talked about it in previous articles! 

If you want to check it out, here’s the link : 

https://www.whire.net/post/blog-post-on-2023-hr-recruitment-trends . Thank us later! 😉

Internal referrals vs Whire 

Then, you have internal referrals which is an alternative that a lot of companies use. Employees who already work in the company can refer talent in their existing network. ⛓Internal referrals are really efficient when they are made successfully. Indeed, the employee knows what is the best fit for his company. The recruitment is then highly qualitative

But the number of candidates is limited and sometimes doesn’t meet the DEI objectives of the company. 🌐

External referrals 

Finally, you have the possibility of external platforms that will help a company post a job opportunity. The already existing platform network will allow multiple people to see this position, and these professionals will be able to refer someone from their network. These people will receive a reward if the talent they recommended is hired. 

That’s exactly what Whire is implementing. 🥳External platforms of referrals like Whire ensure a smaller number of applicants compared to LinkedIn. This is a tremendous advantage as it saves recruiters precious time

The Whire platform provides qualitative candidates from diverse communities which directly helps companies to meet their goals. The cost of recruiting is lower compared to recruitment agencies and the matching process is the fastest among the alternatives listed above. What’s more, if after 30 days the company is not happy with its new employee and decides not to go forward, the fee is totally reimbursed to the company.  🥰




Sources :

https://en.wikipedia.org/wiki/LinkedIn

https://en.wikipedia.org/wiki/Employment_agency

https://www.talentlyft.com/en/resources/what-is-employee-referral#:~:text=Employee%20referral%20is%20an%20internal,candidates%20from%20their%20existing%20networks.

https://www.shrm.org/resourcesandtools/tools-and-samples/toolkits/pages/tk-designingandmanagingsuccessfulemployeereferralprograms.aspx#:~:text=An%20employee%20referral%20program%20is,for%20jobs%20in%20their%20organizations.

https://www.forbes.com/sites/forbeshumanresourcescouncil/2021/09/07/five-challenges-facing-staffing-firms-in-2021/?sh=b72ad276432e

https://www.apollotechnical.com/recruitment-statistics/#:~:text=According%20to%20LinkedIn%20Recruitment%20statistics,is%20referrals%20from%20current%20employees.

https://www.quora.com/How-much-would-an-employment-agency-in-Singapore-cost

https://c.tenor.com/4UtxCDVD6CsAAAAC/refund-i-dont-want-a-refund.gif

https://c.tenor.com/KOki-OrS24AAAAAC/linkedin.gif

​​https://c.tenor.com/WAcy0nHZGuUAAAAM/recruiting-is-hard-jake-rogers.gif

https://www.cio.com/article/251155/why-linkedin-premium-is-worth-the-money.html#:~:text=LinkedIn%20Premium%20is%20offered%20in,%24119.95%20per%20month%20for%20recruiters.

https://medium.com/@referralrecruit/how-can-employee-referral-help-you-cut-recruitment-costs-f92c4eb9dca9#:~:text=When%20you%20rely%20on%20employee,to%20%2418%2C000%2C%20for%20blue%20collars.

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