In the job market today, organisations face a paradoxical challenge. On the one hand, there’s no shortage of talent. But finding the perfect match for your organisation? That takes intense effort.
For recruiters, one potential solution is to focus on passive candidates. First, they are already employed, which shows they possess the requisite skills and experience for the role.
Second, because passive candidates aren’t actively job-hunting, they are more transparent about their capabilities, reducing the likelihood of inflated resumes.
However, getting the attention of passive candidates can be a herculean effort. But when it’s done right, it can lead to a higher quality of hires, making the intensive search a good long-term investment.
In this blog, we focus on understanding the passive talent pool, and then draw up an unorthodox playbook for hiring and retaining passive talent.
Understanding the Passive Candidate Landscape
Passive candidates make up 70% of the overall talent pool, according to various industry reports. This means hiring managers are not focusing their efforts on most of the talent in the market. Here are seven ways you can change that:
7 Ways to Recruit Passive Candidates
1. Proactive Sourcing for Maximum Reach
Traditional job postings are most effective at reaching active job seekers, but proactive sourcing expands your options of finding talent.
You can use a variety of tools to do this: implementing applicant tracking systems (to build a database of candidates for the future), employee referrals, internal talent pools, and engagement with company alumni.
Meanwhile, also try to diversify where you look for talent. Try engaging on work-related groups, reaching out organically on social media, and attending job fairs or industry events. This gives you a better shot of finding the right candidate.
2. AI-Driven Talent Mapping
Think of this as your digital talent scout. AI-driven talent mapping uses powerful algorithms to scan the web for potential hires.
But it doesn’t just look for jobseekers; it also identifies people with the skills and experiences that align with your needs — even if they aren’t currently job-hunting.
These tools can even forecast who might be open to new job opportunities based on their career trajectory and online behaviour. With this strategy, you’re not just waiting for the right candidate to come along — you’re going out and finding them.
3. Creating Talent Communities
Building a talent community is about cultivating relationships and offering value to candidates long before a position becomes available. These online platforms or forums are targeted at professionals who may not be actively seeking a job, but are aligned with your company’s industry, values, or projects.
For example, a fintech firm could establish an online forum focused on topics such as blockchain technology, financial regulations, or AI in finance. Through the group, the company could share early-access reports, exclusive webinars, and prompt discussions on the future of fintech.
When the firm has job openings, an announcement in this community can quickly attract a pool of candidates who are not only qualified but already engaged with the company’s mission and values.
4. Freelance Positions as a Test Run
Offering freelance or part-time roles as a stepping stone to full-time positions is an effective way to attract passive candidates.
This approach allows them to experience your company culture, work processes, and team dynamics without fully committing, minimising their career risk. For employers, it serves as a ‘trial period’ to assess a candidate’s fit and skills, reducing the costs and risks associated with bad hires. Candidates with a significant experience can also be brought in as consultants for specific projects.
This win-win strategy can streamline your recruitment process, making it more appealing for high-quality passive candidates.
5. Simplifying the Candidate Evaluation Process
Efficiency matters in passive hiring. By making it easier for passive candidates to apply and interview, you are likely to keep them more engaged. Streamline your application process by accepting LinkedIn profiles and digital portfolios as legitimate credentials.
Next, reimagine the interview process. Think outside the conference room. Consider implementing pre-recorded video interviews to accommodate candidates already holding down full-time jobs. Consider trimming down on multi-stage interviews and get decision-makers involved earlier in the hiring process. Other moves like automated reference checks are an efficient alternative to traditional phone calls or emails.
6. Capitalising on Alumni Networks
Don’t underestimate the power of ‘boomerang hires’. Re-engaging with former employees can be a strategic talent acquisition move. These are professionals who have ventured out, acquired new skills, and can bring fresh insights back to your organisation. The key? Changing your relationship with employees from “Goodbye” to “See you later”.
A thriving alumni network goes beyond job posts and LinkedIn likes. The key is fostering a community where former employees feel seen and valued. Feature their successes, invite them to company events, and always keep the door open for a potential return.
Microsoft is a good case in point when it comes to leveraging their alumni network. When done right, the result is an alumni network that operates not just as a talent reservoir but also acts as an evergreen source of brand advocates.
7. Talent Market Intelligence as a Recruitment Tool
It might seem counterintuitive, but keeping tabs on your competitors can offer a strategic edge in identifying quality talent. When your competition faces high turnover rates, you can swoop in and offer a more stable or fulfilling work environment.
That said, there’s a fine line between strategic hiring and talent poaching. It’s not just about nabbing your competitor’s top performers; it’s about ensuring you don’t compromise your own business ethics or corporate relationships in the process.
Conclusion
In today’s job market, traditional recruitment methods fall short. This guide has given you actionable strategies — from understanding the passive talent pool to discussing unconventional strategies to hire passive candidates.
Investing in a strategy to hire passive candidates isn’t just about making quality hires. By tapping into an overlooked segment of the talent pool, businesses gain a competitive edge. They are making a long-term investment in their own success.
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