In the realm of talent acquisition, there's a perpetual debate about the value of passive talent versus active job seekers. While active candidates are the low-hanging fruit, readily available for job openings, passive talent often holds a treasure trove of potential that can transform your organisation.
In today’s economic climate, organisations often find that they are deluged with applications from candidates, often receiving hundreds if not thousands of applications for every role. It is easy then to neglect the effort that needs to be put in to engage passive talent and find the very best candidates.
In this blog, we'll explore the value of passive talent and why it's worth the extra effort to tap into this forgotten goldmine.
The Distinction between Passive and Active Talent
Before we delve into the advantages of passive talent, let's clarify what distinguishes them from active job seekers.
Active Talent:
- Actively searching for job opportunities.
- May be motivated by immediate job dissatisfaction or external factors.
- More likely to apply for multiple positions, leading to a larger candidate pool.
- Often visible on job boards and social media platforms.
- Represents only 10-20% of the total talent pool.
Passive Talent:
- Currently employed and not actively seeking new roles.
- Content in their current positions but open to the right opportunity.
- Less likely to apply for jobs online or respond to recruitment emails.
- Typically not visible on traditional job boards.
- Represents 80-90% of the talent pool.
The Value of Passive Talent
- Higher Quality Candidates: Passive talent often consists of top-performers who are already successful in their current roles. They are not actively job hunting because they are content in their current jobs. When they are open to a new opportunity, it's likely to be driven by a desire for career growth or alignment with a specific company's values and culture. This means that you're more likely to find candidates with the skills, experience, and dedication you need.
- Reduced Competition: Since passive candidates are not applying for the same roles as active job seekers, you face significantly less competition when trying to engage them. This means your chances of securing top talent are higher and your recruitment process is more efficient.
- Long-Term Commitment: Passive talent is generally more committed to their chosen career path, making them less likely to hop from job to job. This long-term commitment can lead to reduced turnover and greater stability within your organisation.
- Diverse Skill Sets: Passive candidates often bring diverse skill sets and experiences from different organisations, enriching your talent pool and potentially bringing fresh perspectives to your company.
- Cultural Fit: Passive candidates tend to be more selective, looking for companies whose values and culture align with their own. This can result in better cultural fit and a more harmonious workplace.
- Reduced Time-to-Hire: Contrary to the perception that passive talent takes longer to hire, they often have shorter time-to-hire periods. They require less time for orientation and onboarding because they bring relevant experience and skills.
How to Attract Passive Talent
To harness the value of passive talent, you need to have a proactive approach to recruitment:
- Build a Strong Employer Brand: Your organisation's reputation and image play a critical role in attracting passive candidates. Ensure your company is known for its positive work culture and opportunities for career growth.
- Utilise Networking: Leverage your professional network to identify and approach passive candidates. Attend industry events, engage on social media, and join relevant groups and forums.
- Engage in Passive Candidate Sourcing: Invest in tools and strategies for passive candidate sourcing. This might include using LinkedIn, specialised recruitment platforms, or even working with external recruiters.
- Offer Opportunities for Growth: Passive candidates are often motivated by the prospect of career advancement. Highlight opportunities for growth and development in your recruitment efforts.
While active candidates are an essential part of the recruitment process, the value of passive talent should not be underestimated. Their potential for high-quality, committed, and diverse contributions to your organisation can be a game-changer.
By employing a proactive approach and recognising the unique qualities of passive candidates, you can tap into this forgotten goldmine at a time that others are neglecting it and elevate your talent acquisition strategy to new heights.
Learn more about how Acolyte help by identifying and qualifying every active and passive candidate with our Digital Headhunting tool