Building a candidate pool has been one of the most efficient and steady recruitment methods. Hiring and recruiting with this tactic has always been effective as you already have a pool of candidates in your kitty to pick out the talents from when required. A company is known to be on the path to success and growth if it already has a talent pool. They are already ahead of their competitors, who don’t have a pool.
The three biggest hurdles for an organization during hiring and recruiting are timeline, speed, and quality. Whenever there is a new job opening or a team member resigns, a position must be filled up at the earliest. Recruiters have their deadlines by which they must find an ideal candidate. The timelines could vary depending on the position that must be filled. FlentisPRO, a contingent workforce platforms, can assist you in creating a flawless candidate pool.
Let’s talk about the benefits a talent pool does for your firm.
- Detailed information on each candidate – names, contact details, LinkedIn profile, etc.
- It provides you with top talents with a specific skillset.
- Assists in filling up a position within a deadline.
- Candidates are segregated based on interests, skills, hobbies, and career goals.
- You have the current insight into a candidate’s profile – current employer, role, and job type.
- The talent pool suggests the job role to offer along with the enlightenment on the cultural fit.
- Search options based on keywords and candidature relevance to the keyword.
- You do not start from scratch and have the best talents in your kitty.
- You need not take tests, run a background check, or restart the entire process.
- Engaged candidates are more likely available to join immediately.
- There is a decrease in recruiting the wrong candidates.
- Reduced costs in hiring and recruiting.
Choosing between candidates is easier when you use a talent pool. This is a proactive practice that makes onboarding easier. It could be an arduous task in the beginning, but the difficulties stay in the initial stages. For assistance in creating a fine candidate pool without utilizing much time and effort, contingent workforce programs are imperative.
It is essential to understand the kind of employees that land in the talent pool. Pools include vast employees. From internal workers to potential external laborers, the selection is diverse and serves you plenty of options to choose from, such as,
- Candidates sourced by you or your team
- Top talents and second-best talents
- Potential candidates from social media
- Recommendations from your employees
- Former employees and trainees
The talent pool gives you a handful of options to choose from and makes your selection easier with the help of artificial intelligence. But why should you build a talent pool? The answer is – unexpected hiring. A company can work flawlessly once it has a bag full of candidates ready to hire in a short time. Unlike many organizations, you won’t onboard unqualified or under-qualified candidates by any chance because you already have the best talents in your pool. Your deliverables will not be hampered no matter how stressful the situation gets.
Around 67% of firms face the issue of filling vacant positions, finding the right candidate, and maintaining the vendors/contracts. Therefore, it is better to be prepared for surprises like COVID rather than worrying and stressing out at the last minute. The VMS Portal, FlentisPRO, can assist you in being proactive while it saves a bunch on expenses. Talking about proactiveness, let’s discuss the challenges businesses face while building a talent pool.
- IDENTIFYING AN IDEAL CANDIDATE
Traditional methods of identifying an ideal candidate were lengthy due to a lack of technology. Additionally, it was time-consuming. But in this fast-paced, ever-changing world, you need to be updated and quick to cement your decisions. The right candidate doesn’t mean having a lot of options to choose from. Instead, it means to have the skills you are in search of. In simple words, quality over quantity. - CREATING AND FILLING THE TALENT POOL
You are not the only one reaching out to the candidates. Your competitors are equally eligible to contact the best talents. Other recruiters are also able to contact the same talents you have. Time is ever-changing and upgrading in several ways. Therefore, it is important to update your talent pool every once in a while. - MANAGING THE CANDIDATE POOL
More than just an addition to the existing pool, one must focus on managing the data. Just because someone is in your talent pool doesn’t mean they are always available. They have options just like you do. It is better to keep your candidate engaged and use them when there is an opportunity. - DEALING WITH TALENT RECESSION
There are plenty of reasons for the talent recession. Some of the reasons include political issues, workforce aging, market regression, and pandemics. Due to these problems, your organization can face a skills shortage. It is always better to be clear and transparent for both parties to avoid misunderstandings. - MAINTAINING YOUR TALENT POOL
As the body uses cleansing to restart functions, the talent pool requires a cleanse once in a while too. This means you need to update or delete whatever is unnecessary. For example, someone who applied to an available position months ago might no longer be interested in the same position. In short, candidate pools are time-sensitive and should be given priority as well.
As mentioned earlier, time is ever-changing and is upgrading as we speak, so you need to keep the quality of your candidate pool high and updated. And how can you do so?
- FOCUSING ON DIVERSITY: To reach out to more people, onboarding candidates who understand the regional area is vital. Such candidates give deliverables and provide a personal touch to them.
- AIM FOR THE CULTURE: Since the pandemic, hybrid work culture has preferred to come into action during a situational crisis. A candidate pool makes it easier to maintain and deal with in such circumstances.
- STRUCTURING THE DATA: In a talent pool, profiles are structured in a way to allow you to see through the skills and qualifications at a click of a button. This has acted as a time saver for several organizations and has made hiring and recruiting more manageable.
- DATA DELETION: Setting up automated data deletion cycles ensures that you don’t hold on to any candidate information that is no longer useful to your organization. You just need to select the timeframe in which it should be deleted and you're good to go.
You will always find yourself in a race with time, no matter what you do. But if you use a talent pool, you could be against time. A candidate pool clearly assists you in being ahead and proactive when it comes to procuring a contingent workforce. Plus, you save a lot of bucks and add more to your profits over time. When you have a pool of candidates, your main job is done. It is always important to sit down to talk about the possibilities along with the ways to solve the issues, and FlentisPRO is known to be an expert in this field.