Sourcing

What is a Rolodex Party? Rolodex parties are informal departmental or business unit meetings where top performers are brought into a conference room and are then asked to "download" and share from their personal contacts the names of the very best individuals that they know at other firms. If you were around in the '60s and '70s, that data might …

Business Impacts of Referral Programs Various academic and internal corporate research has found that employee referral programs can: Produce employees who are more productive on the job. MIT Sloan School of Management Professor Emilio J. Castilla discovered that employees recruited through employee referral programs can have significant performance differentials from employees who were sourced via other channels. While Professor Castilla's …

Action Steps for Reenergizing Your Referral Program Reinforce the employee's role in building the team. Great referral programs are not about money; they're about empowering employees to play an active role in building an all-star team for them to work with. Exceptional employees understand that working with the very best people helps them learn, reduces the time required to clean …

The Referral Bonus The largest expense item for most referral programs is the referral bonus. Approximately 90 percent of the programs I have encountered use some form or monetary incentive, the largest of which I have seen recently is $40,000. While that might seem extreme, keep in mind that for some positions you would most certainly pay more than that …

Revenue Is There, But Not From the Same Sources While industry revenue is forecasted to grow from 10.4% in 2005 to 11.6% in 2006, the industry is deriving the greatest percentage of newly booked revenue from value-added services, namely temporary or contract staffing and professional services. More companies are relying on contingent workforces than ever before. It is estimated that …

You may not have realized it, but a growing number of functional excellence awards programs are promoted, sponsored, and, in some cases, even organized by corporations. From math challenges to contests aimed at identifying the best customer service associate in a local geography, these events are quickly becoming a powerful tool used by organizations to build a who's who database …

What's the Difference? Sourcing activities, like any form of activity, can easily be grouped into categories that define scope, applicability/relevance, cost, cycle time, or any other distinguishing attribute. Narrowcasting is one such category that relates to scope of target audience addressed by the activity. It is positioned between broadcasting and microcasting. Broadcast Sourcing Broadcast sourcing activities are those that focus …

Recruiting is a relatively simple four-step process, the first two steps of which are called “sourcing”: First you make potential candidates aware of your firm and its job opportunities. Second, you convince candidates to actually apply for the job. Third, you assess them. And last, you try to “sell” the final candidate on your job. When you prioritize each of …

Last week’s column, Why Branding Is Important In HR, inspired a number of you to write in with questions regarding the impact of using outsourced providers in HR on both your corporate and employment brand. Because many of you shared similar issues, this week we wanted to address methods you can employ to make sure your corporate and employment brands are …

Everyone knows that Google is one of the most popular search engines for finding information. It’s quick, accurate ó and thankfully, it’s free. But only a few savvy recruiters know that Google may also be one of the easiest to use tools on the planet for both finding and assessing top professionals. You can even use it to assess your own relative …