How Self-Sourcing Can Integrate Seamlessly with the MSP Landscape?
The growing demand for emerging tech talent, globalization of workforce, and the need to reduce the time-to-hire has led to new innovations in sourcing. Self-Sourcing or Direct Sourcing is one such concept that is gaining prominence. The idea that a firm can utilize its internal candidate pool (former employees, bronze candidates, freelancers, etc.) to meet its growing demands is appealing, especially with the HR technology now available to mine data and garner relevant workforce insights.
The big question is – whether self-sourcing can integrate within the MSP landscape? If yes, then how can clients leverage its complete potential? In this article, we’ll explain what the advantages of this collaboration are.
1) Provides Access to Unique Talent through VMS/FMS
The biggest advantage of self-sourcing platforms is that they provide direct access to private talent pools through VMS/FMS systems. For client, it’s a win-win situation, they not only get qualified candidates from traditional suppliers but also get access to untapped talent that is not available on traditional mediums like job boards and social media. So in a way, the self-sourcing platform acts as a new supplier with qualified talent pool across industries.
2) Reduces Time-to-Hire & Cost-to-Hire
By getting access to unique talent pools that are qualified, organizations can reduce their time-to-hire and cost-to-hire significantly. Good self-sourcing platforms use candidate-matching algorithms to target relevant audience on the channels (email, social media, etc.) of their choice. This can save organizations time, cost, and valuable effort.
3) Assures Good Candidate Quality
Since you are collaborating with resources you have worked with before and getting referrals from silver & bronze candidates, the overall candidate quality also increases significantly which ultimately reflects in the project completion metrics.
4) Complement Each Other’s Shortcomings
The shortcomings of the self-sourcing approach (compliance, worker classification, risk mitigation, etc.) can be handled by MSPs who have the experience and the infrastructure to manage large-scale workforce programs on a global level. They have the right HR tech, resources, and established protocols to incorporate self-sourcing seamlessly into the landscape.
5) Creates Robust Passive Talent Pipeline
You can always target this untapped workforce with referral campaigns on email and social media to build a robust pipeline of passive talent. This could help the program when it comes to rapid scale-up situations or meeting niche demands.
6) Enhances Focus on Diversity Hiring
Some of the popular self-sourcing platforms are connected with diverse organizations (veteran, women-in-tech, etc.) and share their openings regularly with them. This not only helps organizations reach a diverse base but in a way also aids in the development of communities. The proper integration of self-sourcing within the MSP landscape can also positively affect diversity hiring.
As the gig economy grows by leaps and bounds, we will surely see many new innovations in the staffing sphere. What remains to be seen is how well we integrate these solutions into our existing landscape.
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