A recruiter always has a job pending to be filled and a bunch of resumes to be screened. Most of the recruiters, being reactive recruiters, start their recruitment process only after they get a requirement. Successful recruiters follow a proactive approach and constantly build effective talent pools.
What does talent pool mean?
A Talent Pool is a database of all your past, present and potential future employees. It is a resource center where you can quickly find pre-qualified candidates. You keep feeding this database with every resume that you get in the form job postings, sourcing, social media or referral.
Building a strong talent pool is the quickest way to fill your job openings with the least amount of cost. However, building a high-quality talent pool is a daunting task for many. 76% of recruiting managers find difficult to attract top talent for their jobs.
Importance of Talent Pool
An active talent pool is an asset to any organization. This reduces the time to hire, reduces the cost to hire, and improves the quality of hire.
The job market is changing fast and the demand for talent is more than ever. The need for fresh and active talent pool database is inevitable. Candidate preferences, experiences, qualifications, and locations keep changing. The more you keep your talent pool fresh, the better it serves the purpose.
According to McKinsey Global Institute, Europe and North America will need 16M more than available worker by 2020. High demand and less supply make it important for recruiters to start proactive recruiting. You might like to check the top jobs by 2020 and start creating a talent pool now.
Ways to build Talent Pool
There are two broad ways to build talent pools
Candidates sourced using sourcing tools is a prime source of building a talent pool. Professional networking tools like LinkedIn and Ladders also provide ways to source candidates.
Promote your job on job boards, social media, and your own company website/blog. Interested candidates will apply to those job openings. Keep adding them to your talent pool database.
Candidates sourced using sourcing tools, outbound method, is one of the prime sources of building a talent pool. Some social recruiting tools like LinkedIn, Ladders etc. also provide ways and methods to source candidates that make way into your talent pool database.
However, when you promote your job on various channels including job postings, social media, and your own company website/blog, interested candidates apply on those job openings. This is an inbound method of creating your talent pool database.
As a strategy, keep your even green job published all the times. Incoming resumes of interested candidates will keep filling your talent pool database. Don’t worry if you do not have a real-time job description, use a dummy job description to collect leads.
Referrals are another interesting and important way of building your talent pool. Referrals are considered to be one of the best-recruiting strategies. The quality of the candidate and its attribute of long tenure simplifies the hiring.
Recruiters need to get more proactive on forums and meet-ups. That’s another channel that can generate a lot of referrals for you. If you are hiring for startups proactive recruiting is the only way to hire.
How to keep your talent pool updated?
As much as it is important to build the talent pool, it is important to keep your database afresh. The candidate profile is dynamic, keeping a tap on each candidate seems impossible. But, if you plan from the beginning, it’s easier than what it appears to be.
Segmentation of Candidates
Segmentation is like making different buckets of different skills. Keep the relevant candidates in respective buckets. Sure, a single candidate may fit into many buckets, so let it be.
Segmentation helps to send relevant information to the candidates. Candidates would prefer to read emails of their interest and stay connected with you. Broadcasting every information to everyone will put them off. They are most likely to stop reading your content, unsubscribe or mark your spam. You do not want either to happen. Give them a personalized experience.
Minimum interruption but the maximum value
When a candidate joins your talent pool, they should know the type of content they like to get from you. Some may only want you to send relevant jobs as and when you have for them. Others may like to read your newsletter. Some may like to read knowledgeable content if you produce so.
Keep the expectation right when they are joining the list, will help build their trust on you. Tell them that you won’t be selling their data to any third party. Explain what kind of emails they can expect from you and what would be the frequency. Give them the right to unsubscribe from your list, if they like to.
Don’t keep sending emails about the job opening that you have. Your emails should have something for them to read and engage. If you slip in the current job openings, your purpose is done.
Put yourself in their shoes. If you are recently joined a job, or you are happy with your current organization, further job email is no longer of interest. Isn’t it?
Use Social Media
Social media is a great tool to keep your talent pool engaged. It gives them their right to expression. Create communities, and forums and invite people in your talent pool to join those forums.
Engaging people in such forums is easy. Start thread by asking a question of their interest and you will see a lot of engagement happening. These forums are also a great tool to collect references. Ask the group/forum members to invite more people.
Building a strong, fresh, and active talent pool is important for recruiters and organizations. Hiring talent is getting tougher than ever. Hence it is important to keep the right kind of talent engaged with yourself, all the time.