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What is a Talent Pool and Why Should You Use One?

On01/ 02 /18
Have you ever found your stress levels peaking over the lack of candidates for a role you’re looking to fill? If the answer is yes, then a talent pool might just be the solution you need.

What is a Talent Pool?

Generally speaking, a talent pool is a dynamic portfolio of people who have expressed an interest in working for your organisation. The idea is to keep candidate details on file until the relevant job becomes available. 

How can I build one?

To get started, begin with creating a spreadsheet featuring candidates who you had a good feeling about, but who weren’t right for the position they originally applied for. It’s a good idea to segment them using several categories, and to add any applicable notes. You might, for example, find it useful to include specialist skills, such as copywriting experience, PPC qualifications, management experience etc. - whatever enables you to quickly scan the list and recognise desired competencies. 
If you’d like to avoid the manual element, you might choose an automated process such as an Applicant Tracking System (ATS). Data collection is the most important part of the job, so you need to make sure that it’s done properly. Try to capture as much information as possible by digging into multiple resources such as a candidate’s online presence, up-to-date CV or after-hours activities so you can determine which group the applicant belongs to and what role he/she will suit best. 

What next?

While it may seem like you’re creating extra work for yourself and an effective talent pool will need to be dynamic and pruned regularly, in the long run it will support you in the recruitment process. 

Consistency is key and you need to learn how to manage your database in real-time so you can get the most of it. If you are hiring for Sales Manager to help with your business efforts then you should know precisely what the Sales Manager role entails so you can instantly pick the right candidate from your Talent Pool. 

How do I attract the right candidates?

Recruiting the right person is difficult, which is why, when you spot someone good, you’ll want to hold onto their details for future reference. However, how do you go about attracting the right people in the first place?

Outsourcing your recruitment to an experienced agency in your area holds many advantages. They will already have their own talent pool, and while you’ll obviously need to account for the fee, in the long run it can be far more cost efficient than trying to manage this in-house. 

If you do want to manage this internally, try using tools such as social media and paid search advertising, as well as more traditional methods such as job boards. 

What are the real benefits of a Talent Pool?

The biggest advantage of having your own Talent Pool is the reduced time-to-hire as well as lower recruitment costs.  Having a well-structured record of candidates could support you and help you to fill vacancies quickly.

To make the process easier, speak to a qualified recruitment specialist who already has the details of candidates to hand. 
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