If you are looking for long-term recruiting strategies that will have a powerful impact on your company, there are only two choices: employer branding or making talent pipeline. While most of the companies are investing heavily in building their employer brand, it is quite rare for one to actually have a high-performing recruiting talent pipeline. Before we talk about why we should use a talent pipeline for the company, we first need to understand what talent pipeline is.
A recruiting talent pipeline approach is known by a variety of names, including a "recruiting prospect inventory," a "recruiting pool," or a recruiting network. It is designed to give you a continuous supply of high-quality and interested external recruiting prospects to choose from. It is strategic because it has a long-term talent-supply focus, which means that critical jobs can be filled faster and with higher quality and more interested prospects.
A recruiting talent pipeline is also known as a talent/candidate pool or network. It is an inventory of qualified individuals who could quickly move into your future job openings. You may think of a company as a Football team manager and a company's talent pipeline as said Football manager's squad of substitutes to whom he has access when he needs a replacement!
We all know that managing a company is far more complex than managing a Football team. But having a talent pipeline helps to establish long-term professional relationships between a company and passive job seekers. A talent pipeline is a vital element of recruitment agencies that constantly seek to reach out to a wide pool of passive jobseekers even though these job seekers may not be keen on making a career switch just yet.
We tell you how a talent pipeline streamlines the recruiting process and how recruitment agencies can make use of their pipeline to fill their client's job positions efficiently.
This is the most obvious benefit of having a talent pipeline – since recruiters already have a rich pool of potential candidates to choose from, they effectively shorten the time it takes to source for a candidate to fill an open position. They can thus focus their time on building strategies to attract, engage and retain top talent.
When a job position is vacated, a disruption occurs in a business' workflow. The disruption is even more damaging when the resignation happened unexpectedly. Recruiters can effectively reduce the severity of such disruptions by tapping onto their talent pipeline to fill their clients' empty job positions quickly.
Recruitment agencies need to keep track of top talents across industries and build and nurture relationships with them. This ensures that, when a client embarks on staffing activities, recruiters would have a ready list of best candidates to fill an empty position.
It is hard to be certain that the 'best talent' will commit to a company for long if he/she does not fit into the company culture. This is the reason why companies are careful about picking their next employee – they ensure that a potential candidate has values and a personality that matches them. Since recruiters take the effort to nurture relationships with those within their talent pipeline, they are better able to assess the suitability of a job candidate given their familiarity with his/her character and personality.
A great advantage of forming relationships with passive job seekers is that your talent pipeline turns into a trusted source of referrals. Candidates who have grown comfortable with their recruitment agency will connect the link between their friends and the agency, allowing agencies to expand their pool of talent!
These five reasons explain why recruiters should build a talent pipeline to which they can tap on, in order to add value to the lives of passive job seekers and their clients. Furthermore, should the need to fill urgent positions arise, companies will be able to look towards you, the recruitment agency, as a quality and trusted provider with the resources to recommend suitable candidates for a job and minimize disruption.
In part two, we will share how recruitment agencies building a talent pipeline allows the company to combine relationships with top talent.
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