Talent pipelines are an important part of the smart hiring process, especially for large employers or those with high turnover rates. After all, finding the best candidates to help grow a company is often an ongoing process.
Despite the importance of this recruiting tool, a new study from Lee Hecht Harrison found that 30 percent of employers described their pipeline as poor or nonexistent. These companies do not have qualified candidates lined up for their future hiring needs, which could be a detriment to future growth.
"It is increasingly difficult to find and recruit good people, and this can vary significantly by geography, level, industry and skills," explained Kristen Leverone, senior vice president for Lee Hecht Harrison's Global Talent Development Practice. "Building bench strength is a challenge."
Employers who are planning to expand their workforce in the coming years would likely benefit from building "bench strength." Here are some ways that companies can improve their talent pipelines.
"85% of workers would talk to a recruiter."
Attracting passive talent
Job seekers who are unemployed or looking to make an immediate career move are not the best candidates for a talent pipeline. These individuals want to find a job sooner rather than later, which means that they probably aren't willing to wait around for future opportunities.
For this reason, it is essential to attract passive candidates to populate an effective pipeline. A 2014 survey from LinkedIn showed that 63 percent of the workforce is open to a new position but not actively looking for one. These are the people that employers need to target for their pipelines.
To successfully attract these candidates, employers should know what roles are on the horizon within the organization and actively promote these future opportunities. This can be done on social media, job boards and at networking events, as well as through the company website.
Keeping job seekers engaged
Once employers have attracted potential applicants, the challenge becomes keeping them engaged with the company. If individuals express interest in future opportunities, then do not hear from the business for six months, they will be less inclined to act on open positions. Companies need to stay in touch with the candidates in their talent pipelines to ensure the workers will still be interested when a job opens up.
Taking a one-size-fits-all approach to candidate communications is not nearly as effective as tailoring messages to the different groups of workers. To engage talented individuals, employers should segment potential candidates based on job interests, skill level and basic demographics. Human resources should then develop strategies for communicating with each group, whether it is by email, through social media or via a job portal. Provide information about future job openings, company happenings and other aspects of the business that will keep job seekers interested in employment.
Using talent assessments and background screening tools
Companies that have relatively small HR departments may have trouble cultivating a quality talent pipeline if there are a large number of workers to sort through. In these situations, talent assessments and background screening tools can help employers identify candidates who are qualified and a good match for the company culture. Partnering with a reliable credit reporting agency like Global HR Research allows companies to strengthen their talent pipeline and remain prepared for future job openings without using an excess of resources.
By employing these talent pipeline strategies, businesses both large and small can improve the scope of their prospective applicants and continue to make smart hires as the company grows.
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