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The 20/20/60 Sourcing Plan
Posted By Lou Adler On September 7, 2012 @ 12:17 am In Advice and How-Tos | 25 Comments
I was holding a confab last week with a few recruiting directors from some global companies discussing the future of sourcing and recruiting. The emphasis was how to get better results from LinkedIn Recruiter. Their contention was that more could be done, but their recruiters were balking. The discussion started with a few questions. Imagine you were there at the meeting. How would you respond to these points?
All said they want to accelerate their passive recruiting efforts; they all thought they were in a talent scarcity situation for most critical positions; and, of course, they all said they wanted to raise their talent level. I suggested that to begin achieving these three results they needed to implement a 20/20/60 sourcing plan. This means that no more than 20% of their sourcing resources and efforts should be spent on job postings, about 20% on name generation and targeted emails, and 60% on networking.
This 20/20/60 sourcing plan maps closely to the job-hunting status of LinkedIn members. This is shown in the pie chart summarizing the results of a survey we conducted with LinkedIn last year. Based on more than 4,500 fully-employed members, 17% categorized themselves as active (Searchers, Networkers, and Hunters), 15% Tiptoers (only telling very close former associates), and 68% passive (Explorers were open to receiving calls from a recruiter to discuss a possible career move). To source and recruit the best of these people you can’t just post traditional job descriptions, send boring emails, or make dozens of phones call a day, and expect to attract and hire many good people.
Implementing a well-designed talent scarcity approach to hiring top talent requires that each part of the 20/20/60 plan be optimized to attract the best people in each job-hunting category. This then needs to be combined with rigorous performance-based selection standards and exceptional recruiting skills, to raise a company’s overall talent bar. I contended that without this type of overt and proactive approach it was very difficult to even sustain the current talent levels, since short-term needs dominated long-term decision-making.
We ended the meeting by creating the agenda for next month’s call. The ideas focused on what came next once a company implemented a 20/20/60 sourcing plan. I suggested that there were some prerequisites that should come first, specifically:
Implementing a 20/20/60 sourcing plan is a necessary step for any company facing a talent scarcity situation, but it’s not sufficient. To pull it off, you also need great jobs, fully-engaged hiring managers, and outstanding recruiters. However, this is just the beginning. It’s how you execute that will separate the winners from the runners-up.
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