Without the right talent, no business can prosper. In the early stages of a new business, a single person might be responsible for everything. Their talent and dedication (or lack thereof) is what might make the difference between successful business and a failed one.
As a business grows, however, it’ll need to bring in new staff to fulfil a range of roles. Getting the right people into those roles is essential.
A talent pool is a valuable means of finding those winning candidates. It can be a representation of the available candidates to your business or a database of qualified people, many of whom will have already expressed an interest in working for you. You might add to the database in a range of different ways. Through it, you will be able to approach suitable candidates quickly whenever a vacancy opens.
This will save you the trouble of having to go through a protracted, open recruitment process. This reduces both costs for the business and time taken to hire. It should also increase the quality of recruitment as the business will get a head start when a position opens up.
How to Grow your Talent Pool
Now that we’ve established what a talent pool is and why it’s worthwhile, we’re still left with the question of how to grow it.
One of the most powerful ways to get new and talented people onto your shortlist is by looking at the people who’ve come in second and third place for a recent position. These people are likely to develop their skillset over time and improve as candidates.
By increasing the amount you’re paying for a particular job and by offering more perks, you’ll attract more candidates – which will in turn mean more high-quality candidates that make your talent pool. These benefits might include travel perks, which effectively widen your net. For example, a business in London may want offer travel incentives for commuters travelling from Biggleswade to London Kings Cross to target new professionals outside of London.
Your current employees can be a powerful means of attracting new ones. By simply leveraging their existing contacts, you can put yourself in touch with new recruits with whom you wouldn’t otherwise have had contact.
Platforms like LinkedIn offer you the chance to promote yourself and the culture within your company. It’ll also allow you to track down and approach high-quality candidates. The importance of networking should never be understated.
Modern recruiters have access to all kinds of sophisticated software, through which they can sort through larger databases in search of candidates who meet specific criteria. Once your talent pool reaches a certain size, tools like this are almost obligatory.
Touch base regularly
Keeping your talent pool engaged will keep your brand present in the minds of your would-be candidates. You don’t have to do this incessantly; the occasional email every few months will be enough to remind everyone who you are and what you’re about.