Innovation and Continuous Improvement: Smart Sourcing and Compliance Management

Innovation and Continuous Improvement
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Task 2
Part A
1st method
Smart Sourcing Talent acquisition costs come into play when a new position is being filled
for the first time, when an existing position is refilled due to turnover, and when employees
switch jobs internally. Much of the spend for acquiring talent is on sourcing, including
recruiting agency fees and recruitment advertising costs for new hires. It is estimated that
worldwide, organizations spend upwards of a combined $85 billion each year to source
candidates.2 These fees typically come out of the budget of the hiring department and may
not be visible to an organization through its HR department’s accounting of talent acquisition
costs. Using smart sourcing technologies, businesses of all sizes can get the same talent
sourcing advantages that large organizations enjoy. You can recruit faster from a wider
network of qualified candidates, build stronger relationships with active and passive job
seekers, and earn a higher return on your sourcing investments.
Automate job board processes. Get the most out of your job board investments with
predictive ranking and optimization capabilities. Recommend job boards with the highest
likelihood for attracting qualified talent, and automatically post to these boards.  Build a
talent pool. Reduce your dependence on third-party recruiters and external résumé databases
by keeping your own database of quality candidates. Then manage candidate relationships so
you can tap into this valuable resource when you have a job opening. Candidate relationship
databases lower sourcing costs by better marketing opportunities to candidates sourced in the
past.  Plug into social networks. According to the Pew Research Internet Project, 73% of
online adults use social networking sites.3As more people use social networks such as
Facebook, LinkedIn, and Twitter, you can go beyond job boards. A 2012 publication by

Meisha Rouser found that 18.4 million applicants found their jobs on Facebook, 10.2 million
found theirs on LinkedIn, and 8 million found theirs on Twitter.
2nd Method: Sustainable Method
Compliance Management Compliance is a major part of your recruiting, hiring, and
performance evaluation processes. It’s not only about automating and streamlining but also
about documenting and archiving to ensure that you are capturing the data you need in order
to maintain compliance with regulatory agencies or internal policies and procedures. The
following best practices in compliance management will help you track your recruiting and
hiring initiatives and report on them. “Before [Oracle Recruiting Cloud Service], we had all
candidates applying through e-mail and we managed the candidates on an Excel spreadsheet.
We are now able to search, track, and report metrics to our executive team.” —Alissa Dare
Human Resources Manager, ProService Hawaii 8  Increase transparency. A recruiting
solution ensures that you execute proper notification and advertising of open positions—a
requirement for public sector agencies and educational organizations.  Automate reporting
and ensure online privacy. The U.S. Equal Employment Opportunity Commission (EEOC)
requires proper notification and reporting about job openings, screening, compensation, and
other HR practices. In addition, many government agencies in the U.S. and Europe require
that all information be kept private and not be distributed. An online recruiting solution can
automate reporting processes and ensure that all information is confidential, while reducing
your costs.  Define basic qualifications. Enforce use of job templates to ensure consistency
in how you post positions. Make sure basic qualifications are specific, objective, and
measurable. Document and communicate evaluation criteria and processes, which will help
you establish your applicant pool.  Track expressions of interest. Create, document, and
communicate company selection policies and processes. Communicating a clear definition of
expressions of interest and consideration is critical for identifying who is an applicant and