Crowdsourcing typically refers to the pooling of funds, ideas or services by soliciting contribution from a large group of people. Recently we’ve seen more players emerge in the recruitment space, offering employers their version of this concept.
So, what does this mean for talent acquisition teams? Essentially, crowdsourced recruiting = sourcing qualified talent for cheap.Is #crowdsourcing the future of #recruitment? Click To Tweet
4 Benefits of Using Crowdsourcing
- Provides a new innovative way to generate more candidates at a lower investment.
- Build a pipeline of strong candidates into your funnel.
- Get your in-house recruiters to engage with qualified candidates instead of sourcing.
- Leverage technology to accelerate your time to hire.
How does this work?
Crowdsourcing companies work closely with talent acquisition teams to find the right quality candidate. They don’t replace recruiting teams, but rather work alongside them to help find hard-to-fill talent. The process typically starts with a recruiter providing the crowdsourcing company with the ideal skills, background and experience of the type of person they are looking for. Then the company sends them qualified leads for the job.
Top Players in the Market
Listed below (in no particular order or rank) are some of the top companies that offer crowdsourcing. Almost all of them offer the same type of solution, but here are some key differentiators.
- TalentCrowd: Their software platform manages the output from a global crowd of professional sources. They have a marketplace with contributors from around the world, and the technology takes care to manage the task (sourcing assignment) and always focuses on the optimization of time, quality and budget. They have learned over time which contributors work well for different assignments.
- Visage: They help in-house recruiters fill their pipeline with diverse talent. The San Francisco-based startup combines crowdsourcing and artificial intelligence to source talent for 12 Fortune 500 companies including Tesla, Virgin, and Boston Scientific. They use Visage as an alternative to job boards (low quality and time-consuming) and staffing agencies (too expensive). Recruiters post a job on Visage and receive 10 qualified job applicants within five days without the hassle of sourcing.
- Recruitifi: It’s a two-sided marketplace that enables companies to leverage a community of expert recruiters, in a highly targeted and confidential manner, to fill open positions more quickly and efficiently at about half a traditional agency fee.
- RecruitLoop: They launched in Australia in 2011, moved to the Bay Area in 2013, and today support over 1,500 clients globally ranging from startups to Fortune 100s. RecruitLoop provides employers with a true modular or elastic recruitment solution, giving them a smarter way to hire due to their innovative hourly rate pricing model. Just like an attorney or an accountant, RecruitLoop recruiters can help organizations with as much or as little of the recruitment process as needed (usually at around 70% savings compared to a traditional staffing agency).
- Reflik: Reflik finds top candidates in half the time and for half the cost through its extensive network of recruiters and industry professionals. More than 250 employers and over 12,000 recruiters use our platform to crowdsource highly qualified candidates. Companies, including Fortune 500s, that use Reflik to find top talent are Canon, CarMax, Saint Gobain, John Hancock, Interactive Brokers, General Dynamics Mission Systems, and more.
- IndeedCrowd: Employers contract Indeed to bring them quality candidates from Indeed or other sources until they get a hire. Indeed Hire will create and modify the job content, source/phone screen candidates, and present those candidates directly to the employer. The employer pays only if they make a hire! It is the most competitive full-service recruiting solution.
What do you think about the crowdsourcing approach to recruitment? Share in the comments! To learn more, contact us!