Question

What is sourcing in HR? Why we need to source explain and what are the lead and lag indicators of evaluation in sourcing

Answer 1

What is sourcing in HR? Why we need to source explain and what are the lead and lag indicators of evaluation in sourcing

HR Sourcing

HR Sourcing is the process to identify the best qualified and efficient candidate for the company from the pool of candidates. It is the way to find out the best candidate that fits for the company and organization. It is a very critical process in recruitment because the organization wants to conclude the overall process of selection. The company needs to do proper analysis and timing to find a suitable candidate.

Need of HR Sourcing

There are lots of benefits and needs of HR sourcing that help the organization to take active decisions. Let's understand it more clearly.

• Selecting Best Candidate for the Organisation.
• Reducing the Cost and Time-consuming in recruitment.
• Removing non-related candidates from the pool of candidates.
• Reducing the size of the Candidate Pool.
• Making Simplify and understandable Process.

lead and lag indicators of evaluation in sourcing

Lead Indicator in SOurcing

Lead Indicator is the input-oriented that aims to understand the present situation of the company and work for the future. There are lots of Indicators in the company that helps us to understand the present situation like the Current workforce, Quality of Employee, Requirement for New organizations. That helps us to understand what's our requirements and what we need for the effective workforce for the organization.

Lag Indicator in Sourcing

Lag Indicator is the Output indicator that wants to understand the past activity and mistake did by organizations. There are lots of indicators in the company existing that helps us to understand the past situation of the company like Sale per customer, Labor Turnover, Customer Feedback, etc. This helps us to understand what we were doing in the past and what we learned.

Evaluation

After analyzing the Lead and Lag indicators of Sourcing, we able to understand the Present and Past Situation of the company which helps to tea good decisions for the present as well as the future. Both Indicators are nothing separately it becomes an important tool for sourcing when we combine it and use it in the recruitment process. Like, Present Labor and Labor turnover understand what will be the requirement in the future for performing the daily activity of the business. Quality of Employee and Customer Feedback helps us to find a suitable employee to support the best customer feedback.

All the very best