These days, it's harder to fill open positions, especially for developing businesses. A candidate's market started in early 2022 and it's likely that small enterprises will continue to have trouble luring top talents.
To keep ahead of the competition as a business owner or recruiter, you need every edge you can get. Passive recruiting meets all the criteria needed in today's competitive job market. Let's look at the advantages of passive hiring for your business.
- Smaller competition
Targeting passive applicants already means less competition only because there are more passive candidates than active ones. Active job-seekers are frequently simpler to find and hire, but this does not imply that passive applicants are not worth the trouble.
When you engage in passive sourcing, you'll widen your talent pool and possibly find candidates your competitors aren't even aware of. Consider the fact that many employees would be tempted to change jobs if they discovered a more relevant position, with better perks, and positive corporate culture. You have to therefore point it out to your applicants.
- Less pressure
When employing active applicants, keep in mind that they're definitely looking for work in many places and are probably attending interviews with other businesses as well. On average, the best talents are off the market in just ten days, so you might need to speed up your hiring process if you want to secure a desirable applicant.
This is especially true if you work in a high-demand-for-talents market. But if you're under time pressure, you can choose the wrong employee. This is why reaching out to passive candidates eases the pressure and stress associated with the hiring process. They don't need a job right away, and it's unlikely that numerous employers are contacting them.
You can concentrate on the recruitment process better and make sure that you're making the appropriate hiring decisions with less stress and more time to think. Keep in mind that a bad hiring choice might cost a business anywhere from EUR 16,000 to EUR 230,000.
- More experienced applicants
When you hire a candidate through passive recruitment, they probably already possess the skills you are seeking. Thus, they have a better opportunity to be employed successfully.
Since they are currently employed by other companies, you also know they have some in-field expertise and experience that can add additional value to your organisation. Additionally, you have more time to carefully examine their credentials and make sure they possess the necessary skill set. You can also take your time to make sure that they fit well with the company's culture.
- More skilled candidates
Making sure you hire the most talented applicant is one of the most important things when recruiting passive candidates. You risk missing out on some excellent talent in the passive pool if you are only working with a group of active talent.
Passive employees are nonetheless working and contributing to the businesses where they are currently employed. If they are exceptionally talented, it may be difficult to convince them to change jobs but it may be worth the extra effort if you manage to get them a job offer that will boost their career.
- Candidates choose you
Active job seekers may have several job offers when you recruit them, but even if they don't, they might accept a bid at your company just to earn a wage. The situation with passive candidates is different.
They examine your offer carefully before deciding whether or not to accept it. They want to know if you can assist them in achieving their professional objectives and whether it would be smart to switch jobs at this point. Because they have their existing jobs as a safety net, passive applicants are very selective and make only the decisions they are sure about.
- Boosts your network
Even if you don't end up hiring them, you are still able to develop relationships with passive applicants you approach. By doing that, there is a better chance they get in touch with you to see if you have interesting openings when they start actively looking for work.
Even If they don't reach out to you, you may contact them when you have an opening for a different, more desirable job. In any case, if you need to find talent in the future, you may stay in touch with them and keep them in your pipeline.
- More genuine experience
Last but not least, hiring passive candidates can result in a more genuine experience. Candidates that are actively seeking employment have probably practised some of their interviews and are prepared for inquiries. They may figure out what type of interview questions you’ll ask and rehearse an answer for them.
However, this can make it challenging to make the right hiring decision.
You are more likely to accurately assess an applicant who is not actively seeking employment and does not have rehearsed answers. This kind of talent also doesn’t feel as much pressure to get the job. Passive candidates may prepare themselves less for the interview, and you may get more honest responses that will allow you to determine whether they are a good match for the position.
These are the most important benefits of recruiting passive talents.
You can have your talent pool filled with top-notch candidates while simultaneously saving time, money, and resources via non-active recruitment. You keep in the loop the most qualified, highly competent applicants and reach out to them whenever a new position opens up. Thus, you have access to a wider range of prospective employees, which is crucial in today's competitive job market. We are sure the above arguments convince you to start using passive sourcing and boost your recruiting game. Get in touch with us if you want to begin a conversation and find out more about developing your career or finding the right staff.