Companies have always been been keen on improving predictability and control over talent supply chain. The bottle neck in the process was essentially sourcing quality talent for recruitment. Rest of the process was always more predictable and in control.
Companies now can have better control over their talent sourcing by leveraging:
1. Extending Recruitment Funnel on Top by Engaging with Talent on Social Media
Everybody today is on Social Media; excellently put by The Economist, if Facebook were a country, it would be the second most populous one! By companies establishing firm presence on social media and connecting with target talent, companies can create skill basket of talent who could readily be sourced when need arises. Of course, in theory, this system alway existed but in practice it never created starts..but now the scale that companies can achieve by leveraging social media and systematisation made possible with social ATS allows companies to execute on theoretical models better. Doing this essentially has profound impact on the hiring funnel. Where traditionally companies measured recruitment funnel from submission stage, now the funnel will get extended on the top to include talent listening to company, followed by talent actively engaged, followed by application received. This extension results in better control over sourcing.
Here is the new sourcing funnel:
Emergence of Analytics has improved predictability in many aspects of business. The impact is same for talent sourcing. Historical data analysis, better predictability based on statistical models will help companies improve predictability.