News and Insight

Resources, advice and thought leadership from our experts.

How to Create and Maintain an Effective Talent Pool

An active talent pool is the lifeblood for any human resources manager. It’s the most effective way to hire someone who fits the culture and position you’re hiring for because the vetting has been done. It allows the person in charge of hiring to be more proactive than reactive when a job opening comes up.

Picture this scenario. A hiring manager becomes aware of a new position that’s needed or a role that will no longer be filled, whether that’s by a voluntary or involuntary leave of an employee. In order to avoid the scrambling that can happen when a seat is left unopened, you have a high quality list of people to pick from. It’s like being a salesperson and responding to a warm lead vs. a cold lead. It makes a difference when it comes to the sales cycle, or in the case of filling an open position, the hiring cycle. And what hiring manager wouldn’t want an empty seat filled as soon as possible with a quality hire?

So how can you alleviate the stress of hiring, and maintain an effective talent pool?

Segment your Talent Pool

Group your talent pool into smaller segments based on criteria important to your hiring process. There are different methods to use when coming up with how you’re going to segment your talent pool. One way to break them into groups is by the department they would work within or the preferred job they are seeking out. Segmentation is a great way to better understand the people in your talent pool and where the interest levels are.

Talk to Former Applicants

A candidate who doesn’t fit a specific position at one time should still stay on your radar if they showed a genuine interest in being part of the company and fit the culture. Being transparent with potential candidates about why they weren’t the right fit for a position is important. It not only builds trust with the candidate, but it gives them constructive feedback to work on, which allows them to better themselves and become a more employable candidate down the road. And kudos to you because they are already in your talent pool.

Don’t Overlook Internal Talent Pool

Take a look at the employees already in your organization, especially if you’re looking to fill a higher role. The hiring process can be longer and more expensive the higher the position is within the company. Having candidates in your talent pool who are already employed by the company is clutch because they already get the culture and are a good fit. This can save a lot of time and make them a lower turnover risk.

Leverage Social Media

It’s 2020, so if you aren’t using social media as part of your recruiting process, these stats might change your mind. According to CareerArc, 55% of job seekers find social and professional networks to be the most useful resource during a job search, with 73% of millennials saying they found their last position through a social media site, according to Aberdeen Group. Social media networks give a platform to target candidates, engage candidates, and share with them new opportunities. If you do it right, social media can also be used as a branding mechanism that guides candidates to you by not only promoting a company’s brand but its culture.

Organize In-Person Events

Become a thought-leader for job seekers. The place they go to stay informed and educated. Put on an expert panel or conference that hosts industry leaders. An event like this helps to attract top talent because of the access. If you don’t have the resources to coordinate an event, sponsor an industry event. Sponsoring an event not only helps to build your brand awareness but surrounds your brand with others in the industry, making it more reputable and more visible for job seekers.

Any tips you have for creating and maintaining an effective talent pool? Join the conversation and share your thoughts on LinkedIn.