The non-employee population is becoming an increasingly strategic and significant component of the workforce for companies of all sizes, across all industries. Due to the shortage of talent available to fill key positions and the preference of in-demand workers to work on a flexible basis, companies are finding that they are depending on a non-permanent workforce more frequently.
This shift in workforce composition is leading to the increasing importance of talent pools that are both efficient and effective. Over the past couple of years, companies are turning to talent pools to optimize their hiring programs. The best talent pools bring together all sorts of talent, including contingent workers, direct hire candidates, independent contractors, freelancers, and referrals. Thus companies have one single area to search for skilled and qualified talent and engage them in a meaningful way.
A report by Ardent Partners indicated that approximately 35 percent of companies collect their non-employee talent in a single, centralized program.
Trends for Talent Pools
With the recent surge of talent pools, industry experts have reported various trends towards building effective talent pools.
Talent Pools for Succession Management: In fast moving organizations, one-on-one succession management doesn’t always work. Using a talent pool instead allows companies to quickly mobilize talent to fill key positions when needed.
The Importance of Interaction: Creating a talent pool just to have one will not engage job seekers. Rather, it’s important to provide the people in the talent pools with things they are looking for, such as content, collaboration, and interaction. This will go far towards building the relationship for the desired outcome.
Segmentation: While many companies create a catchall community, true value can be derived by building these groups around job-seeker interest, profession, or skills. This allows recruiters to build the right communication and marketing strategy to engage with candidates.
Beyond a Database: A talent pool goes beyond just a static database or skills bank, or even a bank of resumes found in an Applicant Tracking System (ATS). Rather than one-way transactions where an employer grabs a resume when needed, a talent pool should be an interactive forum and community. Having the right technology platform can help facilitate creating talent profiles, and offering interactive features.
Proactive Recruiting Approach: For years, the prevalent recruiting style has been reactive, but today companies are looking for different and more proactive approaches. Using a talent pool allows companies to provide a smooth recruiting process and a positive brand experience to candidates.
“Talent pools provide the opportunity to capture a larger percentage of these job seekers and establish the relationship and content they need to convert them to applicants.” ~Elaine Orler, CEO and Founder of Talent Function