Traditionally, the way companies have gone about talent acquisition has followed a transactional model. Companies announce that they have a job opening through various channels (word of mouth, ads, job portals) and they wait for job-seekers to apply to it. This strategy has worked for as long as anyone can remember, but that doesn’t mean it’s the best approach. The main problem with the transactional approach is that it’s limited to job-seekers. This means that you can only ever hope to recruit someone who is actively looking for a job. Out of all the people qualified for the position, only a portion of them will be actively job-seeking.
TalentLyft found that 70% of candidates are job-seekers and that only 36% of candidates are actively searching for a new job. This portion of job-seeking candidates varies depending on the profession as well. For example, engineers are notoriously non-job-seeking, meaning that if you’re trying to recruit an engineer through traditional transactional means, you’ll only have access to a tiny piece of the pie, and your conversion rates will be minuscule.
Traditionally, the way companies have gone about talent acquisition has followed a transactional model. Companies announce that they have a job opening through various channels (word of mouth, ads, job portals) and they wait for job-seekers to apply to it. This strategy has worked for as long as anyone can remember, but that doesn’t mean it’s the best approach. The main problem with the transactional approach is that it’s limited to job-seekers. This means that you can only ever hope to recruit someone who is actively looking for a job. Out of all the people qualified for the position, only a portion of them will be actively job-seeking.
TalentLyft found that 70% of candidates are job-seekers and that only 36% of candidates are actively searching for a new job. This portion of job-seeking candidates varies depending on the profession as well. For example, engineers are notoriously non-job-seeking, meaning that if you’re trying to recruit an engineer through traditional transactional means, you’ll only have access to a tiny piece of the pie, and your conversion rates will be minuscule.
TalentLyft found that 70% of candidates are job-seekers and that only 36% of candidates are actively searching for a new job. This portion of job-seeking candidates varies depending on the profession as well. For example, engineers are notoriously non-job-seeking, meaning that if you’re trying to recruit an engineer through traditional transactional means, you’ll only have access to a tiny piece of the pie, and your conversion rates will be minuscule.