Which Talent Sourcing Strategy Is Right for Your Company - and Its Location?
Friday, June 07, 2019
Carefully aligning your company’s talent sourcing strategy with its choice for a new facility location will result in a successful investment decision.
Organizations make locations decisions when they expand, relocate, or contract their operations. Their specific goals and objectives clearly influence location choices. After all, there is no “one best place” for all businesses. One of the key factors among typical considerations is the talent sourcing strategy an organization chooses to pursue. Location decisions can be influenced by talent needs as locations each have talent market characteristics that align with different sourcing strategies.
When considering a new location, knowing how markets may enable recruiting goals will help increase chances for success. Talent sourcing strategies include “build” and “buy” scenarios: “Build” strategies include locations where a company can hire trainable workers in the labor force, recruit from local and regional schools, and attract people from outside the region. “Buy” scenarios are supported when new hires have applicable industry experience. Combinations of both approaches are common.