Traditional Recruiting vs Crowdsourced Recruiting

History of Crowdsourcing

The history of crowdsourcing dates back to the ancient days of Babylonia 430 BCE to initially serve the terminally ill. According to Herodotus, Greek historian extraordinaire, the ancient Babylonians crowdsourced health care for the sick. The idea of having designated physicians in the community had yet to be implemented,  the familywould leave the sick individual in the pathway of a traveler. There, “passers-by come up to him, and if they have ever had his disease themselves or have known anyone who has suffered from it, they give him advice.” Via Seth’s Blog

Since then, there have been several times in multiple industries that crowdsourcing had been the solution to problems.Today, crowdsourcing has been most responsive  mainly to the Internet. The Internet provides a particularly ideal venue for crowdsourcing where individuals tend to be more open and the reachis vast.

The latest trend has been the creation of marketplaces wrapped around the principles of  crowdsourcing. This new model relies on 3 attributes:

1) Buyer – Posts a need and creates demand in the marketplace.

2) Services – The type of service or commodity which is being exchanged.

3) Services Provider (“The Crowd”) –  Provides the service or supplies the commodity and serve on-demand.

Buyer → {Service} → Thousands of Service Providers/Sellers

 

Crowdsource vs Traditional Recruiting
Traditional Recruiting Crowdsourced Recruiting
Limited Reachability by Internal Recruiters Worldwide Reach with Network of Independent Recruiters
Slow turnaround with internal recruiters Faster turnaround with competitive platform
Expensive rates for successful placements Flexible Split Fee payscale
Limited choices on potential hires Wide variety of applicants
High risk with payments upfront Zero Risk – Pay only when applicant is hired

 

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