When it comes to talent acquisition, companies' approach to recruiting is typically piecemeal, based on expressed needs.
But this approach can force companies to take lower quality candidates when there is a gap in a position to be filled (35% of companies face this according to a Deloitte study).
However, there is a better way to do this, less reactive, more strategic: the implementation of a talent pipeline.
Rather than hastily posting ads on job boards when the need arises, some companies are differentiating themselves by establishing this talent pipeline to access a database of potential candidates, the so-called "talent pool," at any time. (This represents 13% of companies, also according to Deloitte).
The limitations of TSAs
Applicant Tracking Systems (ATS) have transformed, and above all facilitated, recruitment work. Thanks to their numerous functionalities, one can view profiles selected on multiple criteria and know at any time, the status of an application.
But an ATS is ultimately just a database management tool, often underutilized.
Human resources may have many resumes available, but if they are not updated and the candidate has not been in contact with the company for a long time, this information is no longer valuable.
"A resume database is a rapidly depreciating HR asset" ( Katharine Hansen, Live Career)
Moreover, when recruiting, most companies rarely bother to dive into a database of thousands of profiles.
A pipeline of candidates that the company stays in touch with
Having a resource of candidate profiles is important for a company, but to make quality hires, it must have a candidate pipeline in place.
To do this, it must be able to identify the right profiles and build relationships with them by engaging them in a consistent application-tunnel, even before offering them a potential position.
Building a talent pipeline is an effective way to maintain relationships with candidates you may be interested in when a new position opens.
First, the talent pipeline pre-qualifies profiles with which it makes sense to connect with the employer brand. In Inbound Recruiting, these profiles are called the candidate persona.
Your talent pipeline is made up of the people you know more about than just through their resumes. You've been able to observe their interactions with your company (social networks, newsletters, calls, etc.) You've determined their skills and will be able to offer them an interview if a position matching them becomes available.
Instead of having a stack of resumes, you have 5-10 profiles for each targeted position with whom you can have an ongoing relationship.
Building a relationship with this list of people will make you successful in the long run. Your newsletters and personalized contacts will help your recruiting infrastructure which will now be proactive.
Building a talent pipeline with Inbound Recruiting
The Inbound Recruiting methodology allows you to effectively build this talent pipeline.
This diagram depicts the process of engaging an "unknown" (in this case, a passive candidate), all the way to the actual application.
This process is extremely effective in that it relies on clearly defined stages, during which quality content is delivered at the right time.
Using this approach, it is possible to:
- decrease candidate search time by up to 50% .
- minimize the risk of a mismatch between the candidate and the position
- reduce the cost of acquiring your talent
- obtain skills that are difficult to acquire through traditional methods
If you'd like to learn more about building a talent pipeline through Inbound Recruiting, contact us directly.
