Utilize Your Talent Pool to Save Money

December 13th, 2019

Do you maintain an active “talent pool”? Do your hiring managers know exactly where to turn when they have an open position to fill? Are you proactively pursuing excellent candidates, or are you waiting until your positions open and then accepting a resume from whoever happens to stumble upon your job posts?

Smart employers recognize that recruiting and hiring are not one-time events. Staffing is an ongoing process, so when you think about selecting new candidates, stay focused on “when” not “if.” Maintaining a talent pool can help you come out ahead when it’s time to bring a talented employee on board. Here’s how to take action.

Plan way ahead.

Take a strategic look at your position pipeline. At least a year in advance, recognize who’s retiring, who’s facing a promotion, and who’s about to go and leave a valued position unoccupied. If you know, you’ll need to staff those positions soon, and you don’t see a steady stream of internal candidates who can step comfortably into those roles, be ready to turn to outside contenders.

Value passive talent.

Many of the best outside candidates for the role share one common trait: they aren’t actively seeking new jobs. Their feelers are out, and they’ll consider new opportunities that could advance their careers, but in the meantime, they’re happy where they are. They’re employed and fine. They have all they need. But their Linkedin profile settings may indicate that they’re open to new offers, or they may have resumes posted on job search sites. These are the candidates you want in your talent pool.

Appreciate active talent (and be grateful).

When active applicants submit resumes, show respect and appreciation for their interest, even if you can’t offer them a position right now. Active candidates are those who are between jobs or searching for a new position right now, and for this group, time is a factor. If you can’t hire them, someone else will soon, but that’s no reason to let them disappear. Keep their names on file and deliver a message of goodwill and interest in a long-term positive relationship. Let them know that you’d like to hear from them as soon as they return to the market.

Prepare a plan for talented applicants you can’t hire immediately.

You want Candidate A to work for you. But she has a job, she’s not desperate, and she’s being (or has been) courted by other employers. Also, the position you want her to step into is currently occupied by someone who won’t leave for another six weeks. What to do? Keep her name in your talent pool! When the moment arrives, you’ll be ready to make the call and deliver the offer that will grab her attention.

For more on how to build and maintain a staff of the most talented workers in your area, rely on the staffing pros at PSU.

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