The perpetual challenge in HR management is identifying and securing top-tier talent for your organization. It’s something that 83% of HR managers are finding difficult to achieve, especially with the pace at which businesses evolve today.
The solution: a talent pool, a reserve of pre-qualified candidates who can fill open positions. It future-proofs your workforce by proactively identifying, attracting, and retaining the right people before you need to, so you won’t have to start from square one when recruiting. It’s a strategic advantage that can place your organization ahead in this fast-paced talent acquisition landscape.
Let’s discuss how to build a talent pool to streamline your recruitment process and equip your organization with the right people.
What is a Talent Pool (and Why Do You Need One)?
A talent pool is a curated reserve of qualified candidates with the skills and experience necessary for your organization’s success. Think of it as a database of people who have expressed interest in working for your company or whom you’ve identified as high-potential candidates. When a role becomes vacant, your talent pool should be the first place to look for to fill the position.
Having a talent pool is advantageous because it shortens time-to-hire, improves the quality of new employees, and mitigates the impact of sudden staffing shortages. It was particularly beneficial during the Great Resignation when an unprecedented number of employees left their jobs following back-to-back economic crises.
Given these benefits, building a talent pool is necessary to maintain your business’s operations despite whatever the future has in store.
How to Build a Talent Pool
Establishing a talent pool may be the solution to streamlining your recruitment operations and enhancing workforce quality. With that in mind, here are the steps to build a talent pool for your organization:
Source candidates from traditional channels
Online job boards, professional networking sites, forums, and other traditional recruitment channels often yield candidates with experience and a track record of success in your industry. As such, casting a wide net in these avenues could connect you to diverse talent who aligns with your organization’s values and requirements.
Likewise, don’t underestimate the value of a robust online presence since it ensures your company’s visibility among job seekers on the internet. Optimizing job postings that showcase your company culture may draw individuals who align with your organizational ethos.
Engage in job fairs and campus recruitment
Young talent is a valuable asset in the business landscape. So, actively participate in these events to connect with potential candidates early in their careers. Campus recruitment, in particular, allows you to identify and nurture promising talent before they enter the job market to allow for seamless integration into your talent pool once they’re ready to launch their professional journey.
Scout professional networking sites
Professional networking platforms offer a wealth of information about potential candidates, from their professional backgrounds to endorsements and recommendations. Consider scouting them to identify suitable individuals, then add ideal ones to your talent pool. Alternatively, you can establish your presence on these sites to position your company as an excellent employer and attract applicants.
Include your internal talent in the pool
Building a talent pool isn’t solely about external recruitment—it also involves recognizing and nurturing expertise within your organization. So, don’t overlook your employees; identify high-potential employees via regular assessments and include them in your talent pool for future job openings and growth opportunities.
Moreover, including your staff in your talent pool is an excellent way to give them paths for career advancement, which 76% of employees are always on the lookout for.
Establish an employee referral program
Some of your employees may have expansive professional networks, so consider tapping into these connections to yield high-quality referrals. A popular way to do this is by designing an incentive program to motivate employees to recommend qualified candidates. For example, you could give the referring staff a financial bonus upon their referral’s regularization.
Stay in touch with previous applicants and employees
Building and maintaining a talent pool requires ongoing engagement. As such, stay connected with skilled professionals who have applied for positions in the past but weren’t selected by keeping communication lines open and expressing interest in their professional development.
Likewise, maintain relationships with former employees. They may have gained additional skills and experience in succeeding ventures, making them valuable candidates for future opportunities.
Tap the services of a recruitment agency
While your efforts are crucial, external support can significantly streamline and enhance the quality of your talent pool. So, consider collaborating with reputable recruitment agencies, like Manila Recruitment, who usually have access to a broader network of candidates and streamline screening processes.
However, when tapping external support, you must clearly communicate your organization’s values, culture, and specific skill requirements to attract the people you want. It’s also essential to maintain an active role in the recruitment process to ensure each candidate aligns not just with your technical requirements but also with your company culture, mission, and vision.
Future-Proof Your Workforce with Manila Recruitment
The HR management landscape is challenging, which is why building a talent pool has become a forward-thinking approach to resolving staffing needs. In other words, it could be a solution to your company’s long-term success. So, employ the strategies we’ve discussed to nurture a reservoir of expertise aligning with your organizational values and goals from the get-go.
Thankfully, you won’t have to build a talent pool alone. Manila Recruitment, a leading recruitment agency in the Philippines, can connect you to the best candidates, among other outsourcing and recruitment services.
Interested? Contact us to learn more!