Founder Insights: #7 Transitioning to Cyclical Talent Acquisition

Hi,

It's that time of the week when we delve deep into another groundbreaking facet of talent pools.

My journey from start-up agileness to bureaucratic boardroom discussions has given me a front-row seat to the transformations that are redefining how companies view talent.

I've seen the ebb and flow of various hiring practices.

Today, I aim to shed light on a topic that I've become deeply passionate about:

the move from linear to cyclical hiring practices.

Have you ever pondered the inefficiencies of the traditional recruitment model?

Well, today we will break it down

and show you how you can adapt your strategy to a future-proof model.

Let’s dive in.

The Traditional Linear Approach

The age-old recruitment model is rather straightforward: source, interview, hire, onboard, work, and – more often than not – bid farewell. This linear progression operates like a silent assassin. Let's consider this scenario:

A talent recently completed an outstanding project with your marketing team.

But does the rest of your organization recognize their achievements?

In a linear system, such talent might be relegated to just another name in your marketing manager's Excel sheet. They could be archived, only to later depart the company in search of their next opportunity—possibly at a competitor's doorstep.

Unbeknownst to you, another department within your organization was seeking someone with a similar skill set for a related project.

Instead, they hired someone externally through a third-party, paying a hefty 42% markup and enduring a 4-week onboarding process.

Such operations happen daily and aren't just missed opportunities for efficiency and value.

They carry substantial financial and cultural costs, especially when talent gets isolated within organizational silos.

All because of a lack of visibility.

The Cyclical Vision: Understanding the Rehiring Ecosystem

 Have you ever paused to think about why platforms like Upwork and Toptal have rocketed to success?

It's not just about being third-party titans. Instead, they're showing companies, much like yours, the art of the new era of hiring: The cyclical hiring strategy.

Finish up one assignment or job today, and repurpose to jump onto the next challenge tomorrow.

Now, this is a model where the talent isn’t managed in a straight line but a loop.

Not having to say goodbye and be archived.

Instead, after the end of a project or contract, talents loop back into the ecosystem, bringing along not just their skills but a deeper understanding of your business with every return.

That, right there, is the magic of the cyclical talent acquisition model

But, I hear your concerns…changing to such a strategy comes with:

Challenges of implementing a cyclical strategy

Let's recognize that change, as transformative as it is, comes with its set of complexities. Adapting to a new framework doesn't just demand logistical shifts, but a deep-seated evolution in mindset and practice, which comes with challenges like:

Mindset Shift adoption: Transitioning from a traditional recruiter to a talent pool manager demands a radical alteration in perspective.

Community Engagement: Unlike a linear approach where engagement concludes post-hire, cyclical mandates perpetual interaction, nurturing talents akin to a closely-knit community.

Optimal User Experience: Talents should effortlessly navigate through a seamless UI/UX, reinforcing their association with the brand.

But change isn’t as hard as it might have been years ago.

The reason for that is the introduction of:

Technology: The Keystone of the Cyclical Model

The monumental success of platforms like Upwork can largely be attributed to their dedicated technology, facilitating effortless talent engagement, re-engagement, and collaboration.

But here's the kicker: these groundbreaking technologies aren't exclusive to them.

They're within a click reach for companies like yours, ready to transform your talent acquisition model from linear to cyclical.

The pivotal change isn't just in strategy—it's about having the right tech infrastructure.

Traditional recruitment systems simply won't cut it.

Envision it as a dynamic two-way street:

-> companies can effortlessly track, engage, and deploy talent,

<- while professionals get a platform to showcase their evolving skills, declare their availability, and express their aspirations.

It's a dance of mutual benefits, constantly evolving, and consistently engaging.

Recognizing this gap in the market, and the potential to empower companies like yours, led me to create Bubty. It's designed not just to mirror the powerhouses technologies like those of an Upwork, but to go beyond. In a matter of days, not years, Bubty can be the backbone of your talent acquisition, tailored and branded uniquely for your company.

Licensing technology that feels inherently yours is the ultimate key to a successful cyclical talent strategy, offering an unparalleled brand experience for all.

Benefits of the Cyclical Model

Some of these might seem subtle at first, but believe me, they compound over time.

• Cost Efficiency: Dive deep into the numbers and you'll see a glaring truth. The financial gains from reduced sourcing costs are hard to ignore. It's not just about savings, it's about smart investments.

• Time Savings: Forget about starting from zero every single time. Why search the globe when you have seasoned pros, already accustomed to your ecosystem, ready for the next challenge? The time you save here could be spent on, say, innovation or strategy. Just a thought.

• Cultural Continuity: We've all seen it - a new hire coming in and taking weeks, if not months, to truly 'get' the company culture. With cyclical hiring, that's history. Rehired talents don't just fit in; they're already part of the tapestry.

Skill Evolution: This is the game-changer. Each time talent swings back into your realm, they’re not the same—they've upskilled, they've faced new challenges, they've grown. And that evolution? It’s all yours to tap into.

Wrapping Up

Diving into the cyclical talent acquisition world can feel like navigating uncharted waters. But trust me, it’s worth every ounce of effort. If you're gearing up to dip your toes into this new paradigm, here's a streamlined pathway to guide your strides:

• Assess Your Current Strategy: Start with the groundwork. Unearth the gaps, identify the strengths, and zero in on areas craving innovation.

• Expertise is Gold: Talk to those who've walked the talk. The cyclical journey, though rewarding, comes with its intricacies. A seasoned expert can hand you the map. here’s a quick list of some of my favorite talent pool geeks:

  • Dustin Talley - https://www.linkedin.com/in/dustin-talley-2273a25/

  • Allen Larson - https://www.linkedin.com/in/larsonallen/

  • Eryn Peters - https://www.linkedin.com/in/erynpeters/

  
  

• Find the Right Technology: In the age of digital acceleration, the right technology is half the battle won. And, just between us, there's a brilliant tech we've heard of called Bubty. Heard of it? 

• Start Building Your Talent Pool: Initiate the shift. Foster connections, nurture relationships, and start building that talent reservoir. Your future self will thank you.

The days when talent acquisition was a one-way street are setting. As dawn breaks, it's cyclical that's painting the horizon with promise.

We're looking at a future where talent isn't just recruited but nurtured, embraced, and celebrated.

It’s not just about hiring; it’s about community-building, and trust me, the dividends are massive.

Till we meet again,

embrace the change,

challenge the status quo,

and always, always strive for excellence.

Keep the questions coming, keep the passion alive,

and remember, the talent world is your oyster.

Stay curious!

Whenever you're ready, there are 2 ways I can help you: 🚀

1. If you want learn more about how technology can help you lay the foundation for your direct sourcing, go here: https://bubty.com/

2. If you want to talk to me one-on-one, feel free to book a call here: https://calendly.com/bubty/dis...

See you next week for another deep dive into the world of talent pools!

if you want to dive deeper into any of these topics, you can always catch me here: https://www.linkedin.com/in/lee-willoughby-997899182/