Going to third party suppliers can seem like an efficient way to get top talent in a hurry. Yet, working with suppliers can often result in upcharges anywhere from 35-400%.
Direct sourcing eliminates these costs while providing a personalized talent cloud for your company’s needs. When direct sourcing talent, you can build a pipeline of high-quality candidates, tightly monitor your talent spend, and deliver on-demand talent in record time.
Experts predict that by 2029, there will be $1.2 trillion lost in economic output due to a skills shortage. From manufacturing to IT, entire industries are facing a hiring crisis without any strategic plan in place. While outsourcing labor can help fill talent needs, some companies are looking for more permanent solutions – but cannot find the right employee.
Hiring the Right Fit
The annual turnover rate for US employees in 2018 was 44.3%. What’s more, more than 80% of those turnovers were “quits” rather than layoffs. That means that employees are becoming more mobile, leaving companies scrambling to fill vacant positions. And remember: every employee turnover costs the company about 6-9 months of that employees’ salary. For a $60,000/year position, that’s a $45,000 loss.
The Cost of Vacant Positions
Because hiring the wrong person can have far-reaching consequences, many companies move slowly through the hiring process. But keeping a position vacant for too long can have negative impacts of its own. For example, say a position of $60,000/year is vacant. Many companies would take about 60 days (two months) to write a new job description, source new candidates, complete the interview process, and then make an offer. On average, that process will cost the company $25,000, plus whatever extra benefits the prospective employee negotiates.
Direct Sourcing Talent
With Ceipal’s Total Talent Management, finding and selecting the right candidate for your company becomes that much simpler. Powered by artificial intelligence and scientific cognitive models, the Ceipal platform automatically sources and curates a list of candidates whose skills, experience, and workplace culture matches exactly what you want.
Ceipal’s AI offers the most innovative solutions in sourcing and recruitment today, including passive candidate sourcing, in-depth people analytics, candidate matching and ranking, and more.
The Ceipal Solution
Increase Your Talent Pool by +70%
Find the skills you need in less time. Ceipal’s AI-powered platform gives you access to the entire talent market, from candidates actively seeking a job to those employed but ready for new opportunities. With Ceipal, you have your pick of all candidates who match your job description. The AI will even calculate a “reverse compatibility score,” gauging how likely it is for your ideal candidate to show interest in your job. That way, you maximize time chasing likely candidates and leave dead leads where they are.
Create an internal database of qualified candidates. Today, the average job opening receives 250 applications. While you can only choose one candidate to join your team, the likelihood is that at least 50 of those applicants showed promise—and could be perfect for a future opening. Ceipal automatically creates candidate profiles and saves all submitted resumes, letting you quickly build a personalized talent pool catered to your company’s needs.
Truly understand your candidates before you interview them. After all, a candidate’s skill set is only half the story. The other half is their personality. Will they succeed in your company’s culture? Can they adapt to changes and challenges, such as working during the COVID-19 pandemic? With Ceipal’s integration with dotin Inc., you can answer all these questions before calling an applicant in for an interview. Using scientific cognitive models, these candidate personality assessments provide insights into learning styles, workplace values, performance incentives, and more, helping you select the right candidate.
Objectively assess applicants’ skill sets and experience for unbiased hiring decisions. Ceipal’s AI automatically scores each candidate based on their technical skills, work experience, and cultural compatibility with your company. Then, the AI delivers a curated shortlist of qualified candidates directly to your dashboard. Based on your priorities, the AI will weigh different variables in the candidate’s profile more heavily, making sure you find a candidate who checks all your boxes.