60% ADOPTION RATE OF DIRECT SOURCING IN THE NEXT TWO YEARS SAYS NEW REPORT BY STAFFING INDUSTRY ANALYSTS (SIA)
Announcement posted by LiveHire 18 Jun 2021
Independent global staffing and workforce solutions advisors Staffing Industry Analysts (SIA), in conjunction with LiveHire and Raise Recruiting (Ian Martin Group), have released a new report highlighting the importance of direct sourcing in driving efficiency gains in the recruitment of contingent workforces.
The comprehensive report surveyed more than 180 contingent staffing program leaders, in combination with in-depth interviews with leading practitioners and thought leaders. The report highlights how enterprise leaders adopting Direct Sourcing are performing and indicates a staggering 60% intended adoption rate in the next two years.
The report also offers clarity on why direct sourcing is on the rise, the detailed business case for direct sourcing, how to overcome common barriers to implementation, best practices of direct sourcing leaders, and provides eight steps to accelerate your direct sourcing program.
SIA President, Barry Asin, highlighted the pivotal role that both LiveHire and Raise Recruiting played in researching this ground-breaking topic.
“For the last several years our surveys have indicated that direct sourcing is on the top of the agenda for enterprise contingent workforce buyers. While interest is high, confusion and missteps persist. We are pleased to work with LiveHire and Raise on this important research to bring data, insight and best practices to this emerging contingent workforce strategy," said Asin.
The report found that direct sourcing offers a potential impact on the scale of VMS and MSP models of a decade ago - yet direct sourcing is being held back by uncertainty around its business impact and confusion around best practices. Driving this confusion is the contemporary practice of direct sourcing itself.
The report made a distinction between Leaders, early adopters of direct sourcing technology, and Laggards, who hold back and do not embrace new technologies as quickly.
"Leaders outperform Laggards on average by a factor of 4 to 1 on every measured outcome. The Leaders’ advantage is particularly strong in talent acquisition and general business outcomes, with cost, time and retention still representing significant advantages over Laggards," the report found.
SIA concluded: “We believe that over the next two years, more of these core practices will become as standard as payrolling is today, while leaders will look to expand their sources of talent pools to all facets of the corporate ecosystem and leverage AI for efficiency and scale.”
LiveHire is a globally-leading Direct Sourcing platform used by internal recruitment teams, staffing, MSP, RPO, and payroll firms to deliver talent-on-demand at scale, having successfully enabled end-to-end recruitment from sourcing through to hire of contractor workforces across 14 of the largest industries for close to a decade. LiveHire supports partners and clients 24 hours a day from offices strategically located in the USA and Australia. For more information, visit www.livehire.com/us
About Raise Recruiting
Raise is a new division of the Ian Martin Group - a family of companies that has been elevating recruiting since 1957. Raise is our most ground-breaking venture yet, utilizing the power of direct sourcing to bring new value, efficiency, and cost savings to a staffing marketplace that is hungry for breakthrough innovation. Raise provides two direct sourcing solutions: Managed Direct Sourcing (MDS) and Volume Hiring. For more information, visit www.raiserecruiting.com
Steph Barker - Digital Content Coordinator, LiveHire
Tel: 0431 361 032