Direct sourcing, also known as “self-sourcing,” has emerged over the past several years as a powerful instrument in the talent acquisition toolbox. Direct sourcing entails a business, in essence, acting as its own recruitment firm. By building “pools” of talent from curated sources and channels (i.e. referral programs, organizational alumni, silver medalists, job board postings, etc.), businesses can bypass traditional talent acquisition options (such as staffing suppliers and other third-party sources) when seeking the best-aligned talent for a particular job, role, or project.
Going into 2020, direct sourcing and talent pools were the top two priorities for businesses, ahead of critical attributes such as workforce intelligence and SOW management/services procurement (two items that are still essential pieces of workforce management, of course). Over the past several months, CPO Rising has featured a series of articles on the overall value of direct sourcing and its power within today’s contingent workforce management (CWM) programs. However, there remains a viable inquiry that can forever link the art of direct sourcing with the achievement of crucial business outcomes: what’s the role of direct sourcing on the Future of Work movement?
The Future of Work, long defined by Ardent Partners as the way work is optimized via the evolution of talent (and talent engagement/talent acquisition), the impact of new and innovative technology, and the transformation of business thinking, is often thought as an amalgamation of various technology- and strategy-led ideas that ultimately result in the “reimagining” of how work gets done. Artificial intelligence, machine learning, robotics and robotic process automation, digital and on-demand staffing, and business agility are all foundational elements of the Future of Work movement. Isn’t time that direct sourcing become a core piece of the Future of Work discussion?
Well, yes. Of course. And here’s why:
- Direct sourcing has become a central component of the “evolution of talent.” Several years ago in Ardent’s annual State of Contingent Workforce Management research study, I stated that the continued evolution of talent engagement and talent acquisition was a core reason why businesses could optimize how they got work done, given the mindset around non-employee labor and the growing adoption of digital staffing channels. Today, direct sourcing is so much more than just another example of this progression: it’s become a revolutionary means for businesses to completely reimagine how they find, source, and acquire top-tier talent. Talent pools segmented by position, role, skillset, region, etc. are designed to facilitate faster speed-to-hire and help businesses achieve superior business outcomes. Better yet, a well-oiled direct sourcing strategy can help the overall business tap into more diverse voices to ultimately spark innovation and new ideas.
- Direct sourcing technology will always be inherently linked to work optimization. What is “optimizing work,” anyways? Essentially, it means doing things faster, cheaper, deeper, and with better outcomes. Direct sourcing and talent pool curation technology checks all of those boxes by 1) eliminating many hard costs of recruitment, 2) deepening overall access to high-quality skillsets and expertise, 3) reducing the time it takes to find, engage, and source talent for specific roles and projects, and, 4) enhancing overall business outcomes due to the improved alignment between candidates and core projects/role requirements.
- Direct sourcing and talent pools fit squarely into the notion of flexible business thinking. “Flexibility” has become a commonplace attitude in the direct wake of a pandemic’s impact on how businesses structure their workforce in socially-distant and remote environments. However, in the general scheme of the “transformation of business thinking” attribute of the Future of Work movement, flexibility translates into the ability for companies to bend the “elasticity” of its total workforce in a more nimble manner.
Later this month, Ardent Partners will publish its highly-anticipated Direct Sourcing Toolkit research study. As the new report states:
Direct sourcing is primed to become a revolutionary means of tapping into highly-skilled, on-demand talent in the face of global uncertainty and business disruption. As businesses strive to reduce hard recruitment costs and build a truly agile workforce, direct sourcing will quickly become a primary channel for organizations to facilitate deeper alignments between available talent and work that needs to be done. As discussions around the Future of Work movement continue to evolve, they must include direct sourcing as a primary attribute.
RELATED RESEARCH
The Impact of Direct Sourcing in 2020 (and Beyond), Part I
The Value of Total Talent Intelligence
Why 2020 is a Catalyst for Transformation in the World of Talent and Work
The Workplace of the (Near) Future
