How Healthy Is Your Talent Pool?
For many recruiters, it’s getting tougher and tougher. Rising skill shortages, coupled with the possible impact of reduced international talent means it is likely to get worse. I believe one way to address these serious challenges is to ensure you have a healthy talent pool.
What I mean by this is NOT dumping a load of CVs into a CRM and then blasting them with poorly matching jobs! I’m talking about segmenting a market by critical roles, then getting to understand the motivations of the people that work in these types of roles.
Before we even get to that stage, we need to look at the candidate attraction strategy. Where is the talent? What are they looking for? What makes a job offer stand out from the rest of the crowd?
As I said, finding great people is not as straightforward as it was. We are seeing significant fragmentation of candidate sources and over the coming years, it’s going to get even more complex with social media and websites having further increased importance. This, in turn, requires additional skills sets; ones that the modern recruiter needs to have more and more such as market research, content marketing and social networking.
I’m no marketing expert, not by any stretch, but I’d be bold enough to say that the foundation of choosing the most appropriate channel to market is by researching a candidate’s (or prospective candidate’s) needs and try to understand what makes them ‘tick’.
Logic would then assume that the next step would be to start interacting and communicating with them, right? By providing relevant and interesting content via the appropriate channel (based on your initial research).
What is a Talent Pool?
A healthy pool is a body of water with fresh water running through it. Without fresh water it’s just a stagnant pool. A talent pool should be fresh, active and vibrant with plenty of talent flowing through it. What it’s not is a database full of CVs from the 1990’s! If it’s outdated or unsegmented, then it’s of no use to anyone.
So, what do we need to consider?
When building a successful talent pool, try to define ‘what good looks like’. Map out all the competitors. Think about all the players in that market – who moves to where and why? What are the stages that an employee will go through during their career? Which companies have the most/least attractive opportunities? And so on. You will begin to understand why people move to Company X and don’t stay at Company Y.
Building relationships is critical. Companies want every employee who leaves on their own accord to still recommend them as a great place to work. It should be the same with recruiters. For example, candidates who are rejected from the recruitment process should go away feeling that could be a great place to work. By focusing on the candidate experience through investing time and energy into the process will ensure the candidate will take something positive away with them.
In short, be patient, nourish and grow the relationship over time and you will be able to turn your database into a healthy, rich and vibrant talent pool.