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The Best Recruiting Metrics to Measure Your Staffing Vendors' Success

Baseball may be “on hold” until at least July, but that doesn’t have to stop you from tracking important stats—ones that reflect your staffing vendors’ performance.

Fans are eagerly awaiting the[...]

June 16, 2020

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The More the Merrier: The Network Effect in Hiring

Hiring is hard. Hiring at scale is even harder. That’s where hiring technology comes in. Our modern staffing vendor management platform simplifies how companies manage their contingent hiring programs. In this series, Our Differentiators, we’re explaining how it works and how we’ve set ourselves apart.

There is crowdsourcing, crowdfunding, and now crowdstaffing.

When you’re making a hard decision, you likely consult close friends, family members, and mentors to help you decide. Soliciting the opinions and knowledge of others helps you to not only consider other points of view, but also gather additional information.

And this process has become even easier thanks to Internet-enabled crowdsourcing. Before the world wide web, getting quick information from varying sources was a more difficult, time-consuming process. But in the past 20+ years, crowdsourcing information has become the norm. The internet connects people from around the world, so we can get instant answers to our questions by searching for content and soliciting new information from the masses. 

Think about the directions app Waze. It relies on crowdsourcing information from users in real time to route users around traffic and alert them to delays and hazards. Before Waze and similar apps, drivers often had no idea what was coming, and traffic couldn’t be avoided. 

The power of gathering a virtual crowd doesn’t stop at crowdsourcing information and effort either. It’s also used to crowdfund projects via sites like Kickstarter. Instead of self-funding or reaching out to venture capital firms for money, some new companies and products get funded just by presenting their idea and asking a large number of people to each donate a small amount of money. Thanks to the power of the crowd, these small amounts add up to the large sum needed, making access to money is much easier for the average person, by the average person.

Often members of this type of crowd invite their own network to join, growing the crowd even further and creating what we call the network effect. When you want to get the word out about your business, you tell a few people and ask them to continue spreading the word. If they each tell 10 people, and those people tell 10 more people, etcetera, then you’re really getting somewhere. The power of the crowd and its potential network effect is huge.

 

The Power of the Crowd in Talent Acquisition


So, why not leverage and scale the concept of the network effect in staffing?

We at Crowdstaffing have not only cultivated an ever-expanding crowd of vetted talent suppliers to combine and harness the power of their networks, but we’ve also designed Crowdstaffing 360, our AI-powered vendor management system (VMS), to distribute open jobs to our crowd’s most qualified suppliers in that niche or geographic location. In this way, Crowdstaffing 360 not only matches open jobs to the best talent suppliers based on their proven results but also on factors such as a hard-to-hire skill set or a geographic region in which your current suppliers may have typically sparse talent networks. 

Innovation in staffing was overdue, and our technology is helping to bring talent attraction forward.  Learn more over the coming weeks as we share insight into our processes and algorithms.

 

Want to learn more about how our network can help to build yours? Schedule a demo today:


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