The traditional method of waiting for the right candidate to come to you has recently been swapped for the more recent method of using a ‘talent pipeline’.
A talent pipeline refers to a group of individuals that you know are suited either partially or completely for the job. These individuals can be already existing employees that have the skills necessary to be promoted to a higher position, or external candidates that your organization has some sort of prior connection to. The best way to fill a talent pipeline is through effective recruitment management and planning.
A survey conducted by Beamery in 2017 revealed that one of the top priorities for recruiters was talent pooling and pipeline. While the process itself might take a while, the benefits reaped from this approach can be extremely advantageous.
What’s the benefit of a talent pipeline?
The simplest way a talent pipeline can benefit you and your company is by cutting down the time is takes to fill an open position. By having long-standing relationships with potential candidates that are interested in the specified area of work, you increase the chance of not only finding an employee quickly, but also one that you know will work well with your organization. Some companies even try to establish a relationship with students that are still completing their college education instead of approaching them near their graduation. Internships and volunteering programs are an efficient way to take stock of the talent available.
“Developing a talent pipeline requires a shift from reactive recruiting to proactive recruiting.” Instead of reaching out to candidates to fill an open position, reaching out to them to develop a business relationship will help in the long-run. It’s an investment. By investing the time and effort to make sure your talent pool is full of individuals that would suit your organization, you’re making it easier for the company to recruit someone new and effective.
This will also help incredibly when there’s a sudden gap in the organization
Without having anyone immediately available to fill a recently vacated space, there’s a chance that the gap will throw your organization into disarray. In the event that you don’t have another employee to pick up where the last one left off, then the gap could cause issues within the organization. Having a talent pipeline lets you address the situation immediately.
There’s no need for cold calls any more
Making cold calls and sending emails was how companies used to reach out to potential recruits. With a talent pipeline, however, there’s no need for that. Because you have such a vast reach, it’s likely that people will recommend suitable candidates if asked. You can reach out to your extended network and judge for yourself that amount of interest potential employees have for the post you’re recruiting for.
There’s less risk in internal hires
For a bigger company, internal talent recruiting is less risky. Bringing someone new into the organization requires trust. You can’t be confident that the person will meet all your demands, but you need to believe they will. However, if you look within your own company, it’s easier to find someone who fits the bill, who you also have a long-standing relationship with. Knowing that the person you’re selecting for the job has proved to be reliable in the past will help keep the workflow smooth and with few hitches. It also helps retain the best talent within the company. This way, you won’t be losing out on qualified work force, and you’ll have the satisfaction of knowing the person you’ve hired for the task is up to it.
Building a talent pipeline is beneficial both for the company and for the employee. It eliminates various elements of risk and gives you and your organization a better environment to choose from. Instead of shooting in the dark, you have an already-established group of individuals that are a good fit for the role, and you can develop relationships for future vacancies.
