Building Quality Talent Pools a Complete Guide for Creating It
The talent pool is a database that contains a list of potential and existing employees for a specific type of job profile. The candidates in the talent pool can be in the different stages of their professional journey. It is considered to be a great way to attain excellent employees for the organization’s future job openings in a cheap yet efficient manner. The recruitment team uses it as a quality talent store that they can use in case a requirement to fill a position emerges.
What is a talent pool?
Outsourcing companies in Dubai like TASC and the HR recruitment team maintain these databases as a ready reference that comes in handy when needed. The candidates on the database can be current or past employees. They can also be referred candidates for potential promoter jobs in Dubai, sourced candidates, high-performing individuals, or people who have been approved as they meet the criteria of the requirement. For example, a talent pool would consist of a group of high-potential and high-performing individuals within the organization. Individuals from such groups are prepared and trained to take up more significant and critical responsibilities within the organization.
How does it work?
The current demand for talent exceeds the supply and doesn't show any signs of reversing anytime soon.
As per Glassdoor's Workplace Trends for 2022, recruitment in UAE won’t be easy in 2022. Hiring managers believe attracting top talent is their greatest challenge. This means that workers with talent now have the liberty to choose the company they want to work for. On the other hand, employers need to compete with each other to attain high-quality candidates. These changes in the labour market have changed the way companies recruit talent from the market.
Building a talent pool for the organization has become the most essential and enterprising tactic in the sphere of talent acquisition. It serves as a reserve and lets one recruit talent "in advance" for the company's future requirements. As a result, one has a stash of high-quality talent to choose from, making the process much faster, easier, better, and less expensive since money isn't spent on advertising.
How does one identify and acquire a pool of candidates for a specific job profile?
Having a talent pool for the organization is undoubtedly one of the best methods for recruiting talent. However, the big question remains on how to identify and acquire the candidates for it. Here are some methods to fill the talent pool for an organization’s recruitment needs.
- Using social media
Social media posts are a great way to reach out to potential candidates and promote them to join one's talent pool. Candidates need reasons to consider an organization as their next employment choice. Getting onboarded on the roles of an outsourcing company not only ensures candidates’ continuity but also helps them with a variety of projects to work on. One can do this by utilizing social media as a medium to promote the brand's employment value.
- Tools for Sourcing
Outsourcing companies in Dubai and the HR recruitment team can use sourcing tools as another excellent method to look for quality talent. They are a significant source of connecting with passive candidates. In essence, the ones that aren't actively looking for a job but will be willing to accept a better offer.
As per LinkedIn's research, 70% of the global workforce comprises passive talent who aren't actively job searching, and the remaining 30% are active job seekers. Modern sourcing tools are potent and can perform searches on the internet through millions of profiles to fetch details about active and passive candidates. The profiles chosen can then be automatically added by the recruitment team to the talent pool.
- Build landing pages
One of the most efficient and simplest ways to grow the talent pool is to create a separate landing page for the organization’s career site. This will serve as an invitation for potential candidates to join the organization’s talent pool. While doing this, one must bear in mind to keep the process of filling up the application form short and simple.
- Referrals
Another great way of building talent pools is employee referrals. According to research published by LinkedIn, when recruiting through their employees' network, companies expand their talent pools by ten times. Also, such referred candidates turn out to be the best employees that stay the longest with companies. Furthermore, they take a short while to hire, which translates into lower costs.
Common pitfalls of building talent pools?
Here are some of the common mistakes one should avoid while building the talent pipeline:
- Not planning recruitment needs in advance pools
- Ignoring former employees and existing talent
- Not using a variety of candidates
- Not evaluating candidates for such future needs
- Not providing training opportunities to address skill gaps
- Not setting up key performance indicators
- Not monitoring the recruitment strategy
How does one measure success?
Building a talent pool for the organization is a great recruitment method, but analyzing its progress is what makes it work even better. Measuring its success will help one keep track of its efficiency and attract better talent with a lot more diversity and a variety of job profiles.
One can measure the success of the organization in terms of:
- Increased efficiency and quality of hire
- Reduced costs for hiring
- Reduced time for hiring
Conclusion
The modern recruitment methods for organizations are now a changing landscape, with companies having to go head-on against each other to hire quality employees. This trend requires the organization to keep updated with the latest recruitment trends. Building a talent pool database for the organization and maintaining it efficiently gives one an edge against other organizations to acquire quality talent to work in a cost-effective, quicker, and more efficient way.
Reference links
https://www.talentlyft.com/en/resources/what-is-talent-pool
https://www.sourcr.com/blog/mistakes-building-talent-pool/
