My boss was discussing sourcing strategies with me for next year, and he mentioned that we need to increase our hiring through internal referrals to 40%. Isn't it ironic that the very next day, I read the article in Times Of India talking about internal referrals keeping best talent out of companies.
The article gives some impressive figures, such as 85% of recruitment happening through specialist agencies in mature markets like UK.Still in a market like India, where talent needs to be engaged with the organisation, most of the organisations feel that a mix of different sourcing avenues is a good idea for getting the best talent.
Different sources of hiring which any company can use are as follows :
traditional sources of hiring
- job portals - like naukri.com, monster.com
- placement agencies
- employee referrals
- Internal transfers
- campus hiring
other sources of hiring which can be explored :
- social media - linkedin , facebook, twitter
- training institutes
- job fairs
- other industries where people may use similar skills.
I am still not sure, the best percentage for various sources of hiring... but I believe that focus should be on two things while hiring.
1. Quality of profiles for timely closure of position
2. Cost of hiring
