Tuesday, January 15, 2008

Creating a Sourcing Strategy

What is Sourcing?
Sourcing is the ability of an organization to use an effective recruitment approach in filling open positions

What is a Sourcing Strategy?
A Sourcing strategy is the details of how and where you intend on finding candidates to fulfill your open requirements

When determining an effective strategy, there are a variety of important questions that need to be asked

1. What types of skills does the position require?
2. What education level is required for the position?
3. Is the position Contract, Contract-to-Hire, or Direct-Hire?
4. What are the locality requirements?
5. Are there any security considerations we need to be aware of?
6. What tools do I have available?
7. Are there budgetary restraints?

Example Job Description

Must have…

Experience with C# development, distributed systems, relational databases, information retrieval, network programming and/or developing large software systems
BS or MS in Computer Science preferred or equivalent
5+ years of software development experience
Enthusiasm for solving interesting problems
Knowledge of financial industry

Would be nice…

Understanding of defect tracking, project management and code analysis
Knowledge of agile development methodology
Experience writing unit tests and functional tests
Broad knowledge of software industry and technology

Example Sourcing Strategy

Programmers of this caliber require a high level of technical knowledge acquired through formal education and often possess advanced degrees in Computer Science or Information Systems

These types of candidates, more often than not, are not going to post their resumes on online job boards as a means of attracting potential employers. Rather, they will rely on colleague referrals and applying directly to employers

These candidates will more than likely work in niche groups such as Equities, Derivatives, Fixed Income, Mortgage Backed Securities, ultimately reporting into a firm’s perspective Global Support department

There is constant change in this area and high quality candidates are often continuing their education and attending industry events such as user group meetings, trade shows, conferences, lectures, seminars, and tools training

Target active and passive candidates through specialized internet search techniques targeting industry organization member lists, online user groups, trade show attendance lists, seminar attendance lists, social groups and organizations, and training institutions that offer specialized tool training and certifications

Join and attend local groups focused on Web or n-tier development or tools associated with these functions

Promote and effectively utilize company referral program