Talent pools are a great resource for recruiters as they are made up of potential candidates that may best suit the employer’s needs. Building a talent pool is an effective way for recruiters to ensure a constant flow of suitable candidates are available if needed. They can reduce the cost of recruitment by eliminating the need to advertise. They reduce the time to hire as some of the pre work has already been done to place candidates in the talent pool. They also help to identify quality candidates for future roles that are yet to be filled.
Whether you are looking to speed up the recruitment process, reduce costs or identify skill sets, a talent pool could be the answer for your organisation. The following tips are useful in building an effective talent pool.
1) Ensure your current practices meet your future talent pool needs
The whole premise of building talent pools for recruiting is that what employers are doing now, strongly affects the success of the company in the future. You need to know what skills and experience your company needs not just now but in the future. Don’t just keep using the same job descriptions over and over again. Adapt.
2) Don’t forget past applicants
Previous applicants that reach the final round of interviews should not be forgotten. Candidates who have already shown interest in the company by applying and have been assessed throughout the interview process are ideal for your talent pool.
Make sure you give constructive feedback as to why they weren’t the successful candidate and advise them that you will keep their details on file. These candidates are valuable inclusions into the talent pool because they have been previously considered and are aware of what they need to do to become a better fit for the employer in the future.
3) Consider your current candidates
Remember that anyone who has expressed interest in working for your company would be an ideal talent pool candidate. This also includes job seekers who applied for an open position but weren’t the right fit or applicants that may be the right fit for an open position in the future. Existing employees looking for internal opportunities are also great additions to your talent pool.
4) Don’t forget your internal talent
This can be a very reliable and consistent internal source of talent and a truly valuable succession planning tool. By building talent pools internally you are ensuring that you will have experienced and trained employees prepared to assume leadership roles as they become available.
5) Start at the source
The company careers page of your website is a great place to start. Ask for expressions of interest from people who visit your careers page. Whilst there may not be a current open position suitable, they are showing interest in working for your company and should be added to the talent pool of future candidates.
6) Social media is not to be outdone
A massive 92% of companies use social media for recruitment purposes, and the effects of social recruitment have proven to be beneficial. 42% of those companies say that the quality of its candidates have improved from using social recruiting techniques. If you haven’t incorporated social media into your recruiting process yet, this means social media could be a new opportunity.
As employers start to face talent shortages, the need for thriving talent pools is clear. They can be a proactive recruitment initiative that will help your organisation select the best candidates in a shorter time frame. Although they may take some time to build and develop, over time the benefits will far outweigh any negatives.
If you want to discuss talent pools for your company further please contact me paul@paulgreening.com
