4 benefits of building talent pools
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Recruitment plays a foundational role in a business’s success. An organisation cannot hope to be successful without the right resources behind it, and an organisation’s most important resource is its employees. HR managers have the difficult role of trying to attract employees that can help their organisation be successful, which can be extremely difficult.
These employees aren’t easy to find. So, when you are lucky enough to find a talented candidate that seems like a good fit for your organisation, you don’t want to miss out just because you aren’t yet hiring. Instead of missing out, you can save them to a talent pool that you can use to fuel your proactive recruitment in the future.
Talent pools are a fantastic strategic tool for recruiters, and in this post, I will discuss with you some of the key benefits they offer organisations and how you can begin creating your own.
What are talent pools?
The term talent pool refers to a list of candidates or past employees with desirable skills who have expressed interest in working for your organisation in the future. Organisations can create multiple talent pools pertaining to different roles and use these pools to hire from directly. So the next time a position becomes available within, they can look to the corresponding talent pool for a suitable candidate instead of advertising the role.
4 benefits talent pools offer your organisation:
Lower recruitment costs
Having built-up talent pools means you can avoid advertising for applicants when hiring. Instead, you can turn to your talent pool and select candidates from within. So no paying for:
- Job postings
- Marketing to attract applicants
- Or a recruitment agency whose fees can be anywhere from 12% -30% of the position’s annual salary!
Organisations can use the money they save in the recruitment process to entice more top-quality talent.
Faster hiring process
Hiring is naturally faster when your HR team can directly approach willing, talented candidates right off the bat. Instead of worrying about job postings or agencies, HR need only look at their pre-screened list of potential candidates and choose.
Saving HR time and thus further reducing recruitment costs and increasing recruitment efficiency within your organisation.
You don’t miss out on top talent
Sometimes the perfect candidate is presented to you at entirely the wrong time. Either you aren’t hiring where they would be suited, or they are stuck in a job commitment for a while, whatever the reason, you shouldn’t forget about them. Talent pools allow you to save these candidates for when the time is right. So when you’re looking to fill a role suitable for the candidate you can reach out to them.
Talented candidates that are the right fit for your organisation are not easy to come by, so you can’t waste them. Talent pools allow you to seize every opportunity to work with talented employees.
Fuels proactive recruitment long term
Talent pools are a tool at the forefront of proactive recruitment, which sees organisations take the reins and have more control in the hiring process. Most organisations, unfortunately, fall into the habit of reactive recruitment, this is when organisations don’t seek out talent until there is a vacancy. The problem with reactive recruitment is that often companies end up settling for a candidate because they need to fill the vacant position quickly instead of taking the time to find the perfect candidate.
Proactive recruitment alternatively ties with your strategic workforce planning ensuring hiring aligns with your company’s goals. Hiring for the sake of filling vacancies is not going to optimise your company’s chances of meeting its goals. Talent pools allow you to do this by creating banks of pre-evaluated and categorised candidates that align with your strategic workforce planning.
How to make your own talent pools
Building talent pools within our platform is simple. Simply go onto a candidate’s profile and tag them to one of your talent communities. Here you can create a new talent community or choose from one of your pre-existing communities. Add each candidate to as many talent pools as you see fit. Alternatively, you can manually add candidates directly into the talent pool in the talent communities tab if they are not in the system.
So, what do you have to lose?
Talent pools can offer your organisation so much if you let them. They don’t take much effort to create, and before you know it, you have this amazing resource at your disposal. So, why not try them out for yourself? There really is nothing to lose and everything to gain.