What is candidate sourcing

Candidate sourcing is a recent concept.

The concept originated with the availability of internet and more precisely with the existence of social media websites.

Technology is a great tool for recruiters and hiring managers. Initially, recruiters believed that the popularity of social media websites will turn the process of recruitment into a cakewalk. However, it is not that easy. You definitely need a strategy to make things work out positively.

Defining Candidate Sourcing

The proactive search of talented and potential hires to fill up all the vacant job openings. Recruiters do following tasks for the purpose of sourcing:

  • They collect all the valuable candidate information related to resumes and work samples.
  • They can pre-screen the skills they are looking in the candidates.
  • They inform candidates about job openings and build a relation with them.
  • They build long term relation with potential recruits and recruiters.

All these tasks are what we do as recruiters in Vested.

Difference between sourcing and recruiting

Sourcing and recruiting are two different but interconnected processes. One kicks in after other. Sourcing is associated with searching, identifying and contacting recruits that have potential to fill in your positions.

It is the first process. Sourcing is followed by recruiting. Recruiting includes HR processes like screening, interviewing and evaluating the candidates.

In MNCs, recruiters handle the first steps and the second process is handled by professional sourcers. However, both sourcing and recruiting fall under the same roof that is HR.

How does sourcing affect recruiting?

Sourcing is a vital part of recruiting strategy of any company. Recruiters specialize in:

  • They basically reduce the fill-in time of candidates because the process of initial screening of candidates has been already done by them.
  • They keep a database of clients engaged in your vacancies so that they can use these pipelines to cover the present and future recruitment.
  • They position themselves in such a way that they can meet the long-term goals of sourcing.

Who are sourcing specialists?

Sourcing specialists, popularly known as sourcers are those HR professionals who excel in identifying and engaging potential candidates for current and future potential needs of the company.

Jobs they perform:

  • They identify the future hiring needs of the company.
  • They participate in establishing the effective sourcing techniques for the company.
  • They reach out to potential candidates through different channels and media.
  • They develop talent pipelines for every position in the company.
  • They keep researching and experimenting on new sourcing technologies and tools.
  • They analyse all the sourcing tools they have used.

Social sourcing:

The process includes using the social media platforms to search for the right talent. The social networks (like Facebook, twitter and Linked In) can be a great help in identifying, attracting and contacting potential candidates.

Sourcers use social media for following purposes: 

  • They use the platform to collect the contact details, resumes and work samples of the applicants.
  • To create their own talent pipelines to fulfill the hiring needs of the company in the future.
  • To reach out to potential qualified candidates and giving them information regarding your job openings.
  • They establish the employer as a brand and advertise the openings.

A few most effective sourcing tools:

Sourcing specialists and recruiters use social media tools to narrow down their search. Tools help recruiters to find candidates quickly. These few tools will help you streamline the process:

  • LinkedIn: This is a social media platform for recruiters. Professionals share their career history and accomplishments on the platform and take it as an opportunity to interact with professional recruiters. Sourcers need a LinkedIn recruiters license to search through profiles and send personal messages to candidates.
  • Indeed: Indeed is the world’s largest job board that hosts more than 90 million resumes. The advanced search options of the board allow recruiters to search on the basis of job location and title.
  • Facebook: It is the world’s most popular social networking website and an ocean of potential candidates. The paid job ads feature of Facebook helps you find recruits with ease.
  • Twitter: The different tools of twitter like chat, search and lists to ease the process of recruit sourcing. Engaging on twitter conversations advertising conferences and following hash tags can help sourcers build a talent pipeline through twitter.

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How recruiters use social media to source candidates

Resumes and cover letters are passé. Sourcing for candidates has become challenging like never before. It is not all about your degrees and education at today’s time but about your skills, wit and talent along with your qualification.

Recruiters have moved their focus from physical recruiting methods to social media platforms like Twitter, Linked In or Facebook. Or they use in demand recruiters like our Vested platform.

It has become one of the major norms of recruiting nowadays.

A recruiter is in a constant search of most qualified and talented pool of applicants. At present, three of above mentioned social media websites have over 1.2 million of combined users. That sounds like a potential.

As more and more people are joining social media websites, recruiters do need to maintain leverage upon their social media accounts for recruiting purposes. This is an imperative formula to attract talent.

What are the benefits of social recruiting? How to get started?

  • Build your employment brand: Social media is a showcase that showcases the culture of your company to the recruits. Brand your social media platforms by posting content, photos and videos. Try to engage job seekers in conversations and motivate to participate them in discussions. Give them space to prompt some questions and answers. This is a wonderful way to know about your recruit and giving him a chance to understand your company culture.
  • Reach passive candidates: Almost everyone is using social media platform, either they are looking for a job or not. They are passive candidates who might not be interested in changing their jobs but building a relationship with them can give you the opportunity to hire them. This is how social media helps you to enhance your talent pool.
  • Employee referral program: It is considered one of the top most and high;y-effective recruiting tool. It allows you to involve your current employers in the hiring process. You can post recruitment requisitions on their social media platform and it increases your approach base.
  • Learn about the background of the employee: Evaluating the Linked In or Facebook profile of a person helps you access major information about them. A linked In profile includes their resume and, past and present jobs. It includes their recommendations, peers, managers and colleagues. It can help you determine some second or third degree connections allowing you a personal referral. Similarly, facebook and twitter contain information about their interests, hobbies and other personal information.
  • Lower recruitment costs: All this set up is free and that is how you save a lot upon the cost of recruitment.

How to use?

There are different social media platforms and there are different techniques to use them. The first step includes deciding your target audience and tailoring your strategy accordingly. Start from being familiar to one platform and then move to other.

Twitter

Twitter is a popular micro blogging social networking website. There is a limit of 140 characters to messages or tweets. The platform has more than 300 million users yielding more than 300 million tweets per day along with 1.6 million search queries.

The most significant thing about twitter is that it connects business and customer in real time. Businesses use twitter to promote their brand, products, services, share information, gathering feedback from market and connecting to influential people.

Twitter updates what is happening in the current moment. In includes various broadcasts about the vacant positions that need to be filled.

LinkedIn

It is the leading professional networking site. It has more than 155 million users around 200 countries and territories. This site is quite popular among professional recruiters.

The professional recruiters foster networking through LinkedIn and can have access to ready-made resumes.

Facebook

Facebook is the largest pool of talent. Millions of people log in and log out on daily basis and share pictures, videos and posts to become popular among their friends. Although it started as a social utility but, it expanded as a popular network to make connections.

Facebook ads are a great option to target the exact audience. For example, if you are based in California and relocation is not a part of your budget then you can target the audience of the city only.

The overall result will be:

  • The traffic to your career site will be increased.
  • There will be increased Facebook fans engagement.
  • Your twitter follower count will be increased.
  • The traffic to job postings will increase.

How to source for candidates for LinkedIn

LinkedIn is a gold mine of candidates if you know the right method of recruiting. The platform allows you to connect with more than 330 million professional, all of them prominently exhibiting their professional skills, job experience, education, recommendations, expertise and talent.

The most interesting fact about Linked In is that is does not connect you with unemployed professionals or recent force of graduates only but also with the active professionals that are in a constant search of new opportunities.

A recent survey in 2011 concluded that 68% of current employers are open for new listings and job offers. Growth is a continuous and desirable process and 83% of working force will be at their ears if you have something interesting to tell them.

Sounds great! Now, when you know that 83% of currently working force can pursue your offer, how can you reach them? How can you find these candidates? And, what suitable methods you will use to narrow down your search and approach the right candidate?

It is not a strenuous process; you just need a right strategy to approach the right person. This example will help you understand my words easily.

Let’s suppose, you are running a surgical business and you need a marketing person who can do his job perfectly. Your requirements are:

  • A person with an experience of minimum 3-4 years.
  • He should have been working in same field in the past years.
  • He should be aware of the local dialect and areas.
  • Substantial knowledge of your products, the material and their usage.
  • He should be an excellent communicator who can address the people, acknowledge the presence of your brand in the market and can resolve all kind of issues.

You can start with the advanced search options of Linked In with all these required qualifications. We tell you how: There is a tool bar or menu on the right side of the page where you can set to search people. There is a picture of magnifying glass and Advance search option along with it. Modify following parameters to initiate your search.

  • In the title field, enter the designation under which you want to do the recruitment.
  • Change the industry to “surgical”.
  • Change the seniority. You should have access to the premium facilities of Linked In if you want to do an efficient search. Upgrade your account.
  • Leave all other options to their default settings.

The preliminary search will come up with hundreds of results. Obviously, all of these people are not looking for a job but many of them may be interested. You can further narrow down your search for better results and making your work easier. You can add the experience required or the location preference. It will definitely help you.

The next step involves looking at these profiles and check how many of them are actively looking for work. After short listing a few names, you can contact them through different ways. Take a look:

  • Send them an email to introduce yourself: Never start a conversation asking if a person is interested in your job opening, even if his profile shows his desperation of finding a job. It will scare them away. Simply tell them their profile caught your attention. Mention something unique about them like any achievement, award or certification. Congratulate them for same, establish a relation and check if they will be apt for your job opening. Tell them about the opening once you are sure.
  • Find groups they belong to, join that group and try to strike a conversation: This way you can state that both of you belong to same group and you thought if they may like working with you. Looking at your name regularly will help in further correspondence. This particular method is quite effective to recruit new employees.
  • If this is a second-degree connection, try to look for a mutual first-degree connection: The mutual first-degree connection will help you form an opinion about the employee and check if they fit your criteria or not.
  • Send them a local message using an In Mail if they are part of a Linked In Open Link network: These tools of Linked In will help you gain more visibility.

Linked In is the best platform to look for professional connections and recruitments.

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How to use technology to source for candidates

Sourcing for recruits without technology is like going for hunting without a weapon. Tough recruiters use all their creative approach to make their way to hidden treasure.

All thanks to technology, there are many sourcing tools that can make your recruiting easier.

We have enlisted the topmost recruiting tools to solve your daily quests:

Resume databases

There are tools that can help you find talented people through different career pages. These are few tools:

  1. Talentbin: Monster’s talent bin is a large pool of database including millions of profiles. The Boolean search feature gives you access to millions of passive candidates. They extract information from all the social media accounts and help you reach out to them.
  2. Career builder Resume Data: The working of this tool is similar to that of Monster’s talent bin. The database has profiles and resumes of abundant of clients. The career builder’s semantic technology supports effective Boolean searches.
  3. Zillion resumes: The aggregated platform is a hub to thousands of profiles and resumes. The aggregator database gathers resumes from different sources. You can find much ‘hard-to-find’ talent with the help of this tool matching your criteria.
  4. Hired: The platform brings recruiters and recruits on a single platform giving them opportunity to interact. Recruiter can create their profile and browse through the required talent. It is believed that recruits respond to 95% of queries.
  5. Hiring Solved: The platform allows you to search for candidates from across all over the world. Even language is no barrier. It lets you search for the candidates similar to your choice.
  6. Sourcing .io: This is a large database of engineers. You can browse through them using available filters. Team referrals and social networking are two features can be seen through the online connection of your team. It will help you in finding right candidate.

Portfolios

The work samples of a candidate are the best example of their talent. Impressive portfolios catch immediate attention. These few tools will help you in finding designers and developers.

  1. Carbonmade: It is fun to browse through carbonmade as it is a hub of collection of portfolios and projects that showcase creative art. You will enjoy looking at the work of designers, copywriters, photographers and architects.
  2. Github: The most popular platform for developers, Github is a great place to look through coding. Github has lot to offer for IT recruiters.
  3. Behance: Behance is the best app to look for creative professionals. The huge network of Behance is a good option. It allows you to search for the right candidate all around the world and you will be able to run targeted search like (Auto CAD). It allows you to post job posts too.

Networking Platform

Firstly, it is difficult to differentiate between active and passive candidates and secondly, communicating with them is another level of complication.

These few websites will help you in the process of networking. These sites can get you started in connecting and emailing candidates today:

  1. Angel List: The platform was set up for startups. However, it is not focused towards passive candidates but it is definitely for quality recruits. Recruiters can directly browse through startups and directly communicate.
  2. Event brite: The website gives you a chance to host, promote or browse an event that will help you find candidates. This way, you will come across employees will be interested in knowing about the latest trends.
  3. Meetup: This is another popular website for hosting events. It allows you to check the list of people who will be attending the event. Even if you are not interesting in attending the event, you have the names of attendees.
  4. Twitter: The hashtag conversations of Twitter are a great ally of sourcing. Try to participate in every relevant hashtag. The advanced search of twitter can be a great help.
  5. Vested: Check out how we get you connected to the very best talent.

Referrals

It is the most trustworthy way of recruitment. The best employees bring in other employees. Making referrals a part of your routine will be a great help.

LinkedIn and Facebook are great sources for getting referrals.

How to use email to attract candidates

If you are a recruiter or a hiring manager sourcing candidates, you must know the importance of communication. This greatest tool helps you reach the candidates and decide whether you will succeed or not. There are endless communication platforms in today’s time but each one has its own pros and cons.

Among all these, email marketing is still considered as the topmost method that can be used to reach passive candidates without creating much fuss about it.

No one bothers about cold recruitment mails or calls and the candidate you are targeting are already tired of being bombarded by hundreds of emails from other companies and organizations.

So, there must be something unique in your email that it can stand out in the crowd. Easier said than done, we know! That is why; we have enlisted these 10 influential tips that will help you to create an outstanding email. I hope you will keep all these tips in mind while writing for your next campaign.

Your email should stand out

Most of the emails we receive are generated automatically. Content has been simply copied and pasted from a template or reference, only the name has been changed. All these emails get deleted right away.

First of all, make sure that your email does not stand out for any wrong reason. Put some efforts in a cold email before sending them. Include some evidence that showcase a personal touch and makes the personal realize that he is an important part of your database.

Don’t explain what your company do

Time is precious and one likes to waste in on the useless information. Don’t waste your and candidate’s time explaining the basics. If he is interested in your project, he must be aware of your company’s profile. Don’t even explain about your project. Give him a detailed history about the project is merely a waste.

Keep it as short as you can. Brief your company’s details, indicate your industry and job opening and you are done. This much information is completely enough.

Focus on your main goal: scheduling a meeting or call

Verbal communication is always much better than correspondence. It is same while hiring a candidate as well. If you think that the candidate will sign your offer letter simply after reading your email, then you must be joking. Your goal should be to arrange a meeting or call to make things more bearable.

Catchy subject lines

Whether your email is opened or not, the candidate will take a look at your subject even if he is going to delete it right away. The factors like length of the subject, clarity, personalization, shared connections and non-spammy will decide the quality of the subject.

Do your research

Many people believe in automation but if you want to run a potential hire search, you need to focus on targeted emails. Try to go beyond the information you already have and look for details online.

Send personalize messages

Carrying out research will not only help you to address the candidate properly but you will also be able to send a more impactful personalize message. Never drop any information that is irrelevant to the candidate. It will make you sound like a stalker only.

Be brief

Keeping your email up to the mark will help you get extra attention. Start off the game with the company details and quickly move to job opening. Mention all the requirements just below the job opening and drop a link to further details. It will help you get quick attention.

Remember the CTA

Always end up your email with something that can make reader generate a curiosity in your reader. A good call-to-action will increase your chances to be answered. For example:

  • Would you like to ask a few more questions?
  • Would to like to connect?

Follow-up

Taking follow -ups to your already generated emails increases your chances to be answered. Like a second email with a simple question, “Was the previous mail useful for you?” It will force the candidate to look for the previous mail and check.

Analyse your email campaign data time to time

Reaching out to the potential hires is no less than a sales and needs regular analysis. It will help you conclude in the right direction.

 

What is Fractional Recruiting

Why employ the Fractional Recruiting model for your business?

Finding an executive or hiring someone to search an executive has become too costly. With the changing economy, it is becoming hard to manage these funds in the budget.

What happens is you hire a full-time HR and overload him with other administrative tasks like compliance, benefits or something related to employees issues that they actually end up spending all the time in these tasks.

He gets no time to focus on his main purpose of talent finding and reach his goals. Fractional recruiting is an efficient solution to this problem.

It’s great for the following reasons:

This innovative solution helps you to challenge the issue of hiring in a cost-effective manner. The system is designed is such a way that it addresses the failures, contingent and retained searches fail to understand.

The hiring process actually slows down once you are done downsizing your team. Fractional recruiting means dropping your experts for a fraction of cost and reducing the size of your human resources capital.

There are many firms that offer fractional recruiting services on contract basis. They have a team of experts to establish the interview processes and their trained hiring executives are well aware of the interviewing skills required for recruiting.

The team of professionals makes sure to create a positive candidate experience that must reflect your brand reputation accurately.

Let me take an example to make the point more clear.

The literal meaning of fractional is “the separation of components of a mixture on the basis of their different physical properties.” Human resources is kind of same thing.

It revolves around different components like HR infrastructure, effective recruiting, performance of people and strategy alignment. The real world of recruiting can extract some major benefits from the concept of fractional HR. These examples will help you to understand the process easily.

First of all, let’s talk about start-ups.

Once a company starts proceeding, it needs immense human capital to establish core values. They need a company book based on their policies and procedures to run their business smoothly.

The process is big initially but once the things are up and start running smoothly the full-time support loses its place. The need of the full-time support transforms into the occasional need required at some key initiatives only.

I have another example. When a local business looks for effective recruitment, it needs to hire at least two persons to stay on the top of HR compliance issues.

It needs two distinctive skills which are not commonly found in a single person and hiring two distinct skill sets that is two different persons for this job is impossible.

No small scale business can extend their budget up to this level.

There are many family-owned businesses that are running out of family and doing absolutely fine.

In such cases, they always need to develop an employee relation strategy in accordance with their business heritage and that can grow with the market initiatives.

Did you find something common in all these examples? All these cases, do not require any full-term, expensive, Human resource solution for their business. Fractional recruiting is an ideal choice for such cases.

It provides a cost-efficient HR solution that is both deep and broad.

You can hire a team of HR professionals to manage the relationships between you and your employers. These HR professionals directly work with your leaders and connect with their colleagues proactively.

They have a great hold on the blended approach, just perfect in place and time.

In the recent times, fractional recruiters have emerged as the latest recruitment solution.

You have regular recruitment needs but not enough budget to hire a full-time recruiting resource, Fractional recruiters fill in the seat and help you get the right people in the right time.

Benefits of Fractional recruiting: Fractional recruitment is emerging as a business and it has multiple benefits.

  • It actually helps you to improve the quality of your candidate pipeline.
  • Your hiring process establishes as a consistent and EEOC compliant process.
  • You end up saving time you used to consume in the process of recruitment.
  • It enhances your candidate experience and you measure better results.
  • The process helps you make better hiring decisions.

To better understand if fractional recruiting makes sense for your business, contact us for a complementary consultation of your HR needs.

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Why Fractional Recruiting Works With Millenials

It is an estimate that Millennial will be contributing to the 50% of the workforce by the end of the year 2020.

Younger workers are a bit different. They know their career destinations like everyone, but they even know how to travel the path. Their personal communication and their culture really matters to them.

The millennial generation is unique, and they decide their future without any presumptions.

Most interestingly, even the consumer demographics are mostly comprises millennial. So, why not hire people who think alike our customers to improve the chances of our success. It can be a guarantee to success.

Above all, the current work situations demand ample strength and young blood that can be handles by young workforce only. With the passage of time, the older generations have become less agile and less active.

Hiring these millennial or channelizing their energy is not that easy. They are born and brought up in a generation where everything is instant and online.

Their mindsets and skills are different from other generations and hence we need a different recruiting strategy to accommodate such a big work force.

Fractional recruiting, a very concept of Fractional marketing believes in hiring temp employees. Rent a property rather than owning it. It is as simple as that. Fractional recruiting does not incur major costs and time investment.

It is best for startups as they are always short on their resources and high-on demand. It has its own set of benefits and is suitable for both the employee and employer.

How hard a founder can try, he cannot perform all the jobs alone. Moreover with the start of business he definitely needs to put in more efforts to the customers and products. Fractional recruiting help startup founders overcome their limitations by minimizing costs to hiring.

Fractional recruiting works best in the case of millennial. We have enlisted these few logics to prove our point.

Career expectations

The career expectation of a millennial is different to that of older generations. The amount of effort and cost they put into their education and life make them desire high paying jobs. They often feel dissatisfied when working at a profile lower than they demand with insufficient wages.

It generates some kind of frustration into them. Fractional recruitment helps them to choose the career path of their own choice. it opens up new ways for them to earn higher and serve their responsibilities more efficiently.

Advanced technology

Millennial obviously prefer tech savvy companies during their hiring process. Their life runs on technology. They don’t like to visit their offices regularly. Instead, they prefer using advanced technology to mark their presence at their workplaces. Fractional hiring allows them to be a part of system even without joining it formally.

Faster career advancement

Gone are the times when people used to believe that slow and steady brings the race and steadiness make your life more beautiful. The new generation is all about speed.

They need to learn, enhance their experience and move on to a new journey. The fractional recruiting dynamic has opened the new doors of progress for them. Their jobs don’t tie them anymore, and they are kings of their lives.

Ambitious

The ambitious attitude of the millennial serves as the strongest base behind the popularity of the fractional recruiting model. They are ambitious enough to not tie them to stagnant jobs and trying their hands in every other field.

They know that long-lasting contracts will make them dull and kill their ambitious instinct.

Independent

Above all, the 21st century generation loves their independence, and they never put it some else’s hands. This is what makes them more confident and proud. They live their lives on their own terms.

They see fractional recruitment as a golden opportunity because the platform let them work and enjoy the freedom simultaneously.

Hunger to learn

Millennial possess an insatiable hunger for knowledge. They are always up for new experiences. However, being stuck at a single organization is no more than a break to their learning journey.

It stimulates their creativity. The new generation believes in an ongoing journey and creating fresh experiences on their way.

What be a better option that fractional recruitming?

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How a part time CEO can bring value to your business?

What was your first reaction when you heard that Bill Gates would be running Microsoft on a part-time basis until the recruitment of another chief-time executive?

Whole business world was titillating at this announcement.

‘Outsourced’, ‘part-time’ or ‘fractional’, these few words were unheard until few years. As we speak more about fractional recruiting, we get to know the sense behind these words. The arrangement is becoming more and popular these days and a lot more people are interested to enter this set up.

There are many startups that need seasoned CEOs but couldn’t afford it due to their limited resources. This part-time solution works fine with both the parties.

Modern businesses run on talent and are always in search of talented people that love to embrace their freedom, independence and go off the books, the freelancers.

These people are known are “supertemps” and they very well know how to maintain their position and a powerful personnel. They are not your average, regular temp worker.

The phenomenon is powerfully gripping the business world and its benefits are proven.

What is a fractional or part-time CEO?

Fractional or part-time CEOs are best suited for mid-market organizations that either don’t need or afford a full-time leader who can guide them from his knowledge and strategic leadership qualities. His skills can bring the same aura as an accomplished and experienced CEO would bring to the company. This is the charm of Fractional marketing set up.

Though fractional CEOs are the part-time additions to the startups yet they function as the full-time CEOs discussing the marketing related opportunities manage strategic marketing events of the start ups, conducting various workshops and marketing audits.

Hiring a Fractional CEO is much like “renting instead of hiring” with no long-term commitments- saving time, recruiting costs, shortening of delays and elimination of interviews and relocations.

Their necessity in the market

These days business grows at a very dynamic pace. There is no precise formula about that defines the requirement of C-suite authority. There can be no universal indicator especially when it comes to small level businesses. Even the executive level businesses face challenging business transformations at time and look for some specified augment level services for an interim period of time. The advanced technology has made it easier to access the exquisite talent and contact it remotely. Almost all size of companies contract with on-demand CEOs or we can say Fractional CEOs.

Benefits of hiring a Fractional CEO

Well, it can be highly beneficial for your startup. They serve you with the services you require without increasing your overhead expenses.

They impart their knowledge and talent temporarily to your company and help you plan a long-lasting insight. They understand what metrics are key to a successful startup.

The market is full of outstanding talent who has a leveraging thrust and significant experience to help a start up but, they don’t want to take up full-time position or change their location. The basics of Fractional marketing explain how hiring an experienced CEO impacts your clients hugely and potentially get your startup a meaningful position in the market. Moreover, it is an opportunity to work and learn under different leaderships. The list of benefits of hiring a Fractional CEO is endless.

  • Experience: It enables your startup to work under the vast experience of trained leaders. Fractional CEOs have been through the problems you don’t even know of, and they have dealt with them in the past very well.
  • Scalability: Their experience and skills scale up you start up faster. Your fractional CEO knows how to make the plan and how to execute it.
  • Trust or respect: As already discussed, the Fractional CEOs are usually a big name in the market. They are trusted for their past experiences and reliable because of their problem solving attitude. Investing in them is like getting advice from your seniors without putting your picket in danger.
  • Practicality: The founders cannot do everything on their own even if they are limited on their resources. They will always need a forced rank order for a better impact. Fractional marketing CEOs bring this kind of atmosphere into your startup.
  • Guidance: Anyone can copy and paste from Google if the data is going up but there are hardly any people why can explain the reason behind it. Fractional CEOs are the guidance that help can help you bounce back.

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How Fractional Executives Benefits Start Ups

If your business is all set to participate in the uneven recovery of economy efficiently, you are fortunate enough.

But being this fortunate is not a guarantee that you will be able to afford full-time executives to oversee your expanding human capital. Human resource is a vital part of a startup but it definitely has a cost.

A start up need strategic initiatives to determine your course of action but it is definitely difficult to afford its cost.

Till date talent management is considered as one of the greatest challenge for founders. Despite putting all their efforts they nearly fail to recognize the right employees in their first year of business.

It incurs an extra cost and pressure to the newly born business and may lead them to the path of failure. The next option is to set up a recruiting department that may help you find the right talent, at the right place and in a right cost.

But, setting up a whole-new department is itself quite costly. What can be the solution?

Hiring a fractional executive can be the ultimate solution for startups or growth phase businesses. Fractional recruiters are leaders who become an essential part of their business from the part-time additions.

Their decades of experience and high-level proficiency can be seen in their “been there, done that” attitude. They are senior level people having a great experience with the real world. They have a grappling experience of facing the situation one cannot even stand.

These high-level freelancers work for only a percentage time of a full-time but can bring the same credibility and skill set as of a full-time employee.

We have summed up the benefits of hiring a fractional executive in 3 major points.

Scalability with company growth

Startups often face a major challenge in identifying the appropriate timing of introducing the right talent to your system.

If you are following the legacy employment model, you will on-board the talent prior you start earning revenues and this way a full-time hire will affect your profitability implications negatively.

And this is the benefits with fractional executives. Companies can ramp them up at the same time when organization is growing.

On the behalf of organizations, these executives are much better than full-time hires because they are at a higher experience level and need almost zero training before taking up your work. It helps the organization to plan the ramp more effectively.

Managing margins

Startups need the right talent most, but they lack the resources to hire the costly full-time executives. A fractional executive, the top talent becomes the part of the organization without any expensive cost tag.

In simple words, startups get 100% expertise and brain power without spending 100% of the true costs. It saves margins and bottom line.

Fractional marketing is an access to hiring the big brain talent on a fractional basis. Companies get to brain tap the most trusted minds that would be otherwise beyond their budget.

Focus

It is very important for startups to focus on their clients, customers and missions initially. Although talent management is also a crucial part of establishing the business, finding the right talent comes at a cost of focus on product or service or delivery.

The process of finding, bringing and hiring the new talent is more critical because they need much more turnover than running businesses. Fractional executives are skilled freelancers that grow with the company.

They basically free up the founders time to concentrate on finding more employees. This way founders get enough time focusing on their individual responsibilities and follow the company’s goals and timelines.

In short, you get the same skill set at hourly-bill rate instead of a monthly price tag. You don’t need to sit them idle for hours and perform when required. Instead, you can simply contact them when there is a requirement.

They may work out of your sight or office, but they will always be in the system through external emails and deal with the things even when they will be physically absent.

The experienced and reliable power houses will send emails from their home, make late night calls and would be available even out of the clock.

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Why early startups should use Fractional recruiting?

Let’s admit it- amidst the struggling and successful launch of a company it becomes really difficult to have a spectacular vision of recruiting and human resource development.

Hiring is not easy and it becomes even difficult when you are at an early stage of developing a business.

All the startups face two most common issues when it comes to hiring.

  1. Hiring is slow. Whatever they do, they never happen to do it speedily.
  2. The quality of hires keeps bothering them even after a year of starting up. They suddenly realize that they have woken up in a pool of mediocre.

Both these concerns are quite real. Obviously, founders need to wear so many caps that they are never left with adequate sources to seek out, recruit, or train the talent effectively.

Human resources is often an overlooked department that plays a really important role in succeeding your business. Hiring the right talent is an utmost necessity if you want to pave a smooth path towards your success.

It helps you while expansion and implementing your policies effectively. It is important and it definitely needs a big investment as well and that’s why start up businesses turn towards fractional recruitment.

What is Fractional recruiting?

Fractional Recruiting is a procedure of outsourcing human resource requirement to a third party instead of setting up an internal department for the same process. It helps you to cut off overhead and expenses.

This cost-effective HR solution helps you achieve an expertise in this particular field of business depending on your current needs.

It also provides you with the flexibility of having professional human resource expertise on-demand only for the definite set of period.

A startup needs a whole team to process their functions. It needs a HR Administrator, HR Generalist, HR Manager, HR coordinator and HR director.

The whole process can be carried out by an entire team or a single person depending upon your requirement. However, everything comes at a cost and efforts and it is not that generous in case of Human resource management.

Fractional recruitment eases the process of hiring and functionality in case of start-ups. It can benefit the recently started business in following ways.

  • Budget-friendly nature: No matter in which sector you are starting, hiring new full-time employees is always heavy on your pocket. Hiring a new employee and training him up-to-the-mark needs a minimum investment of 6-9 months. The investment refers to money and time both. Fractional marketing includes experienced that does not incur the same cost as of the full-time employee.
  • Their vast experience: Fractional recruiters are high-level freelancers that have a great experience of assessing human resources. They have a definite set of interviewing questions and tools, and they always have a good coordination with past employees.
  • Reduces your stress: Human resource management is not as easy task and it includes dealing with uncomfortable situations at times. It builds a lot of stress, especially in small or mid-sized businessman who try to handle their HR department on their own. Fractional HR alleviates the emotional trouble from your business.
  • Infrastructure: You get assistance in compiling necessary templates that are often overlooked. These templates play an important role in growing a business. The templates include employment applications, offer letters, termination letters, employee surveys, performance reviews and much more.
  • Culture: Fractional recruiters help you develop an organizational culture at a minimum cost. They help you understand how engaged your employees are and the temperature around diversity and inclusion. They assess your culture and give you recommendations for improvement.
  • Flexibility: Even HR needs change and updations over time. Fractional recruiters expertise in different areas and their diverse expertise includes various skill sets. Hiring such a person will allow you to focus on more relevant parts of your business leaving this column stress free. These recruiters are flexible enough to work with any kind of leadership and set of employees.

With the multi-level recruiting needs of a startup, nothing can be more suitable than Fractional recruiting.

It keeps you stress-free, allows you to spend your time in more important relevant departments and is lighter on your pocket. You practically get more time in running your business efficiently.