Back to Blog 3 Ways Your Candidate Sourcing Strategy Is Like Managing Your Fantasy Football Team by Tom Bennett on August 20th, 2014 Fantasy football is one of the fastest growing industries, with over 22 million employed Americans playing fantasy football in 2014. A new study asserts that American employers are losing as much as $6.5 billion each year to fantasy football – that’s billion, with a “b.” With the NFL season kicking off on September 4th, let’s take a look at what this means for staffing companies, and what fantasy football can teach recruiters about managing their candidate sourcing strategy. For the first 15 weeks of the NFL season, many of those 22 million fantasy football participants will mull over roster moves and trade offers, following their team diligently to see if they have what it takes to win. The staffing industry has a unique opportunity to benefit from this annual craze, as recruiters can actually learn from the diligence that comes with managing a successful fantasy football team. Let’s take a look at three critical elements that the staffing industry shares with fantasy football. Analysis into trends and performance In fantasy football, owners have real-time metrics and detailed information to help evaluate talent and make decisions fast. In the same way, applicant tracking systems and recruitment CRM systems like Bullhorn allow recruiters to efficiently manage candidates and job orders by giving insights into who would be a good fit for an open position. Speed is important in both recruiting and football, with success hanging on the ability to be faster than the competition. With real-time data and forecasting, staffing firms can differentiate themselves from laggards and fill more job orders, faster. Anytime, anywhere access to information The most successful fantasy football players have their team’s stats and analysis 24/7, and can access it to make changes on any device, no matter where they are. In the same way, the most successful recruiters have 24/7 mobile access to their database, allowing them to cultivate relationships and fill job orders more efficiently. Nothing is worse than missing an opportunity because you didn’t have access to the information you’ve worked so hard to create. A need for diversification The staffing and recruiting industry has an extremely high turnover, so companies have to be prepared to replace both recruiters and clients very quickly. In fantasy football, athletes get hurt every week, keeping owners on their toes, ready to add talent to their team when necessary. Similarly, staffing companies can’t rely too much on their top client for business, and instead need to diversify their team (client base) in order to have sustainable growth. With new jobs, clients, and candidates every week, recruiters need an efficient solution to help them get the most out of their ever-evolving relationships. Do you feel like you have all the right tools to help you manage your candidate and client relationships? To learn more about how powerful, real-time insight into your recruiting process can help you make better decisions and to gain access to critical business information anytime and anywhere, contact us today.