Are You Taking These 5 Steps to Fill & Manage Your Talent Pipeline?

Five ways to improve talent pipeline management for HR professionals.

Steps To Manage Your Talent Pipeline

Does your company have a talent pipeline?

If your business is still moving in the reactive hiring space, you could very well be compromising your existing team and your company growth, too. Instead of waiting for an employee to resign, the trick is to have options in place at all times. However, this requires thinking ahead and an excellent proactive recruitment strategy.

5 Amazing Ways to Bolster Your Talent Pipeline in 2021 & Beyond

1. Really DO Hold Onto Those CVs

Almost every adult has applied for at least one or two job positions that were answered with the old 'CV on file' chestnut. Mostly, we understand that it's an easy way for companies to let people down. In fact, 'we'll keep your CV on file for future opportunities' is the workplace equivalent of 'it's not you, it's me'.

But, as an HR practitioner have you ever thought about the potential of keeping CVs and candidate info?

Hiring costs add up. Between job ad placement, recruitment services, and interviewers' time, hiring gets pricey very quickly. So, if a candidate has come up the talent pipeline quite a way, it only makes sense to hold onto their CV.

Holding Onto CVs

Instead of only saying you will keep their CV, slot them into your talent management system according to their skills and strengths. This way you know where to find them if you ever have a vacancy.

2. Stay In Touch Beyond the Exit Interview

Mostly, people don’t stay in the same jobs for their entire life anymore. In fact, the median tenure in the US currently stands at 4.1 years. This is not necessarily a bad thing, either.

It means that employees are making moves to suit their career trajectories. It also means that they are seeking opportunities that allow them to acquire new skills. Some seek more work-life balance, while others relocate. There are many reasons.

As an employer, the trick lies in keeping your departing employees in your talent pipeline as valued alumni. After all, you never know when alumni can return as boomerang hires, or weigh in as consultants. They also make great brand advocates, and can even channel work your way from their new company. It only makes sense to keep in touch.

Connecting with all candidates past present

3. Embrace The Contingent Workforce

Freelancers, guns for hire, gig workers. Call them what you will - the contingent workforce is booming. Freelancers currently represent around 35% of the global workforce. This means that there are 1.1 billion freelancers around the world. These are people who prefer to choose their projects, make their own time, and slot in where they’re needed on their own terms. Often, they are also very highly skilled in their field.

While there are still companies that aren’t comfortable with bringing freelancers on board, those that do benefit a great deal. It’s the ideal way to address issues like seasonal workload (think tax season for accountants) or to bring very specialized skills on board for specific projects. It also provides teams with on-demand resources when and where they need them.

4. Establish An Employee Referral Program

Do you know who has a great handle on what it takes to make it in your company? Your current team!

They’re immersed in your culture and understand exactly what it takes to make it in your company. They also move in the career circles you need to tap into for the same kind of talent. Employee referral is a great way to gain access to top talent. Especially if you throw some incentive in the mix!

Employee referral

5. Lean Into Internal Mobility

Have you ever thought that the talent you seek may already be within your organization - only hidden in a different department?

As an employer, you can get so used to seeing and thinking of an employee in a certain way that it’s easy to forget that talented people are multi-faceted. ‘Shop around’ within your existing team from time to time.

For instance, consider creating an internal job board, where you advertise and explain new positions. If a current employee is interested, they can then apply from within. This way, you can create opportunities for your team to flex their creative muscles and upskill without looking beyond your business.

Summary

Establishing a robust talent pipeline is one of the most effective ways to ensure that you have access to the cream of the crop. Start by really holding onto those CVs, and staying in touch with departing employees beyond the exit interview. Embrace the contingent workforce, establish an employee referral program and lean into internal mobility.

No workforce can reach its pinnacle without ongoing access to excellent talent. Allow our innovative &Team crew to help you find people who are a great fit for your business. Our system's built-in assessments allow you to create a fuller, more comprehensive view of your candidates without ever leaving the platform. And that’s just one aspect of it...

Contact us to learn more today!