New trends in Candidate Sourcing
On April 9th I was happy to introduce Mercuri Urval's innovative solutions to in our second Business Breakfast of the year. Artificial Intelligence Candidate Sourcing helps us to make sure organisations always have the right capabilities in place so they deliver the best possible results. The breakfast resulted in many fruitful conversations, a summary of the discussions and outcome is listed below.
Mercuri Urval has been investing heavily in new technologies and cooperation lately; something that enables us to set ourselves apart from the competition when it comes to finding relevant candidates, even outside their usual reachability, and then maintaining a relationship with them.
What I notice is that in so many areas we are now talking about the candidate market. It is becoming more and more important to treat candidates as stakeholders rather than as applicants, and to interact with them accordingly. Companies need to build long-term relationships. My colleagues and I, as Executive Search consultants on the other hand, need to invest in the future in order to be able to identify those promising potentials.
In my day to day work it is becoming more and more important to reach the so-called "passive candidates", those persons who aren't actively looking for a new job. How do we reach candidates?
- The Mercuri Urval database
Using our Mercuri Urval database with more than 1 million candidates worldwide and more than 20,000 in Austria, with double-digit percentage growth each year. We are updating our database every 6 months. - Job ads
Job ads provide a high response rate, promote the job before the direct approach, are visible in the relevant environment and beyond, and the company / brand is perceived as growing and progressive. - Head hunting
Through our own in-house research team which has many years of excellence and experience, we achieve high target audience accuracy. We thus sensitise the candidates prior to contacting them through a consultant. - Artificial Intelligence Candidate Sourcing
We reach 83.3% of all Internet users in Austria and cooperate with the world's largest media agency. This gives us access to the world's largest database, allowing us to target not only socio-demographic profiles, but also more than 3,300 online audiences with diverse interests and behaviours.
If you ask me, the advantages of Artificial Intelligence Candidate Sourcing are obvious:
- Accuracy:
Both passive and active candidates can be reached. We achieve a high level of effectiveness, as AICS is targeting relevant candidates solely and thus maximises the target accuracy. At the same time we reach candidates who cannot be addressed directly. - Branding:
AICS is marketing the customer growth as well as promoting the job prior to addressing the candidate. The job ad is visible in the relevant environment and the company is positioned as a forward-looking brand. - Candidates' perception:
Candidates perceive the company as a forward-looking brand at an early stage. Potential candidates receive relevant job offers and are sensitised accordingly when contacted by a consultant. In addition, the application is very easy for those interested and in less than 10 seconds the application process is completed. - Cost:
A minimal effort achieves a maximum reach, given that costs are only generated for the right and relevant target group. The technology takes over the administration.
As an Executive Search consultant, it is up to us to predict the next career steps for the relevant individuals by performing a profile and behavioural comparison. Through this we can predict the probability of a change.
AICS is suitable for local, regional as well as global projects. The best benefits can be generated in cross-border projects as the internet doesn't know national borders.
Based on my experience in recent months the use of AICS in our daily business shows a significantly higher fit of candidates to the relevant job position. I am glad therefore to promote AICS as a real success story.