Today, most businesses run in a pressuring and competitive environment, and their biggest challenge is scaling up quickly and steadily to grasp business opportunities as they come so now it is getting essential to build talent pool.
Though finding the right talent under a strict timeline for even the most experienced HR professionals can be a highly challenging task.
But what if for every key role in your organisation, there were several experienced, qualified, and motivated candidates ready to take the job and lining up to fill it?
That is exactly where a it comes into the picture.
What is Talent Pool?
Nowadays, talent pools have become the increasingly popular resource for talent acquisitions across a number of companies. It’s an approach to hiring which can not only empower your organisation to hire better people in lesser time and expense, but it can also enhance your company’s brand.
In simple word, a talent pool is a big database of candidates who are interested in working with your company. These candidates can be a broad group of individuals who can handle a variety of tasks, or they can be limited to a specific area of expertise.
Who helps in building Talent Pool?
RPO’s help companies in talent pooling by identifying and developing a wide list of potential candidates who are culturally fit and well trained for the respective roles.
How to build an effective Talent Pool?
Talent pools need to be an automated and dynamic list which is updated regularly with pre-screened and pre-assed candidates, who are ready to work with the company in a short notice period. But that is the least requirement of a talent pool and it not what makes a talent pool effective.
Here are the steps critical in creating an effective talent pool
1. Continuous assessment of talent pool:
While in an ideal scenario, a talent pool includes experienced candidates willing to fill up positions in the company, just as it opens. But in reality, there is always some distance between the right candidates and the right opportunity.
That is why it is important to continuously assess it and make sure all the candidates in the list are available, ready to take up jobs, and have the right expertise.
2. Audit the talent pooling process:
As the company’s recruiting requirements change from time to time, so should the talent pooling process. It is important to continuously explore what skills and expertise the company requires on different levels, and use that to tweak the talent pooling process.
This means that the everything from job descriptions to screening processes needs to constantly change and stay updated.
3. Reach out to previous candidates:
So many of qualified candidates get away during the last stage of the interview process, just because there is the only requirement for a few, but these qualified candidates can be easily reached out later for other job opportunities.
To build an effective pool, it is important for recruiters to provide a great candidate experience, even though many of them may not get hired. It is also important to provide the reasons why the candidates did not get hired, so that when they do get invited for an interview for another job role, they will have a detailed feedback to work with and improve.
4. Assess the current candidates:
Many times, recruiters get so much focused on building it up and increasing it that they stop focusing on the current candidates in the pool, and that is where they go wrong.
When a job position opens up, recruiters should first check all the current candidates in the talent pool, and only when they don’t find anyone suitable should they think about increasing the talent pool.
5. Use social media
Most companies around the world use social media to engage prospective candidates and inform them about all the latest opportunities in the company. In fact, in 42% of the companies, the quality of candidates has drastically increased because of social media.
Social media platforms like Facebook, Twitter, and LinkedIn cannot just peek interest in other candidates but they can also promote the company’s brand and culture.
Talent pools can guarantee a company great set of talent in the shorter period of time. But to create an effective talent pool, it is important to hire the right RPO firm that can help you find the right candidates.