Developing your Talent Pool

There are many arguments for internal hiring. Its people you trust and already know are a good cultural fit. Conduct effective succession planning by using the results of performance evaluations. Identify who has skills that could be used in critical positions.

There are, of course, a number of things to consider. Sometimes some of your best talents may need the training to be able to succeed in critical positions. Invest in that. Additionally, in order to make this process more effective, think about shifting away from the annual performance reviews so you can be aware of potential successors for a position at any given time. This will also provide opportunities for coaching and improvement.

Lastly, don’t neglect to pay attention to your turnover rate. Enhancing employee engagement and reducing turnover is a huge benefit in its own right, but it can also help in maintaining your internal talent pipeline.

Sourcing an external talent pool

Recruiting external talent is challenging. Sourcing and networking are more commonly used when there’s a need to fill a specific position. Using your talent pipeline proactively, before filling a position becomes urgent, is a more strategic approach.

Here are a few things you can do to build effective talent pipelines:

Use modern sourcing tools to find resumes and profiles - Sourcing doesn’t have to be reactive. There are modern talent pipeline tools and sourcing resources you can use that will bring you close to a pool of talented professionals according to your criteria. Make the first contact, even if they’re not currently looking for a position. Keep them on your radar. Try modern hiring templates and tools that allow you to maintain a relationship with your future talent.

Attend events to find engaged passive candidates - Every company can select from a wide range of events, meetups, and conferences to meet with potential candidates. Refine your recruiting pitch to focus on the future rather than trying to fill current positions. When meeting with talent, approach them with future opportunities, connect with them and keep in touch.

Source candidates from their social media profiles - Social media has made it easy for companies to find talent in the outside world. From connecting with people on LinkedIn to following interesting people on Twitter, social media can help you add quality candidates to your talent pool.

Keep your eye on rejected candidates- Candidates who were rejected at the final stages of the hiring process could be great future options. You already know they’re talented and they won’t need to pass again through initial stages such as screening calls and cognitive tests. And although rejected before, they may be the perfect fit for a new position. Remember that candidate experience matters: try to leave them with positive impressions about your company. Show them respect (e.g. send them a carefully constructed rejection letter) and connect with them as much as possible.

Develop your referral programs- Referrals are a great way to gain access to excellent candidates who may not be looking for a job or may not have the time to look. It’s often true that great people know great people. Encourage employees or other persons you trust to refer to talent.

Be a desirable place to work - Are you doing a good job in employer branding? Well, keep doing it! Being attractive as an employer is a prerequisite for success in talent pipelining. Not only should you find the best talent, but you should also make sure that they will want to work at your company. You should also encourage people to come to you. Dedicate a place in your career’s page where candidates can submit resumes for future positions. Don’t neglect this; it’s a great way to have a constant and effortless flow of resumes in your talent pool. Evaluate them and you may discover real talent among them.

Use your ATS to nurture future candidates - An applicant tracking system, stores candidate profiles in a searchable database. Candidates can be assigned to specific positions so you can have a full talent management program. Adding the options to leave comments, evaluations and move them along the hiring process, it allows you to evaluate your talent pipeline strategy and discover great future candidates.

What you say, guys? Please suggest if I missed any points here...

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