The job market is changing fast, and so are the skills and qualities that companies are looking for in their employees. The old way of recruiting just doesn't work anymore.
According to a recent study by LinkedIn, 70% of recruiters said that having a talent pipeline is essential, when it comes to recruiting success. So, as a recruiter, you need to be more proactive and keep an eye on the changing patterns of talent movement. Candidates are looking to diversify their skills and work in more rewarding environments. Consequently, a proactive approach can help you streamline the process.
Keeping this in mind, we have devised some strategies that will streamline your thought process and ease your workload in creating a full fledged hiring pipeline.
A talent pipeline, to put it simply, is a long list or collection of suitable candidate profiles. All the profiles will be eligible for specific posts with the required skill set.
92% of recruiters say that building a strong candidate pipeline is their top priority, (Source: LinkedIn), as this eases the task of filling up positions in companies as they can easily reach out to the shortlisted candidates in the pipeline, note their interest or availability and engage them as and when necessary.
The candidates in the pipeline also attain the benefits of networking and can mention their availability regarding shifting positions or taking up new roles. This provides them better exposure which eventually works in the favour of their career growth.
It is noted that companies with strong candidate pipelines are 21% more profitable than companies with low candidate pipelines.
Establishing regular communication and nurturing relationships with candidates in the pipeline can be extremely beneficial to recruiters in their career trajectory.
Building a talent pipeline makes the recruitment process more proactive than reactive, hence recruiters can keep better track of their strategies and processes.
This helps companies to identify talent pools that are eligible and efficient and may be hired as per requirement.
If developed properly and systematically, then, talent pipelines can serve as the scaffolding on which the entire company can be raised and developed further. This is because the talent pipelines are highly beneficial. Some benefits include:
It reduces the burden of going through several rounds of interviews and selection processes. It also reduces time and increases efficiency in the recruitment process.
It helps candidates to understand the job market and job requirements. It serves to build a relationship of give and take that helps companies grow with candidates and vice versa.
As with any strategy or idea, the final execution is what it takes to create the magic. This must be done in a strategic and well- organised manner. This may be done in the following ways:
What are the skills and experience that you need in your employees? What are your company’s plans for growth? Once you have a good understanding of your needs, you can start to identify potential candidates.
Your employer brand is what makes your company stand out from other companies and it is very important to create an attractive image to be able to convince your potential talent. You can do this by creating career pages on your website, sharing employee stories on social media and so on.HubSpot, focuses on building a strong pipeline by focusing on employer branding and they have a strong social media presence and use it to connect it with potential candidates. As a result of their efforts, HubSpot has a candidate pipeline that is filled with qualified and engaged candidates.
There are many different places where you can find qualified candidates such as social media platforms, networking sites, word of mouth, college career centres and placement cells.
Once you have identified potential candidates, it is important to nurture and maintain your relationship with them. This can be done by sending them updates about upcoming events, inviting them to events and sending them personalised messages on social media.
Once you are ready to hire, make sure the process is smooth and efficient as possible for the candidates. This can include having a clear cut job description, using a variety of screening methods and most importantly providing timely feedback.
Make sure your talent pipeline reflects the diversity of the world around you. This means actively recruiting candidates from all stratas and creating a workplace where everyone feels welcome and respected.
GitLab is a remote - first company that has built a strong candidate pipeline by focusing on designing a program to attract and retain candidates from all backgrounds. As a result of their results GitLab has a candidate pipeline that is 50% women and 30% people of colour.
One of the best ways to attract and retain top candidates is to offer opportunities for their growth and development. Show the candidates that you are committed to their success and that you see them as a long term investment.
There are a number of HR tools that can help you manage your talent pipeline more efficiently. These tools can help you automate tasks, track candidates and make better hiring decisions.
Kula is a powerful platform that helps recruiters streamline their workflow and improve their efficiency. With Kula you can manage your hiring pipeline in one central place. Kula gives you a complete overview of your hiring pipeline , from sourcing to interviewing to offer.
This makes it easy to track your progress and identify any areas where you need to improve. With Kula, you can spend less time on administrative tasks and more time on what matters the most: building relationships with candidates and closing deals.
The talent pipeline should be fool proof and measurable.
It is important to to have a strong talent pipeline in place so that you can quickly and easily find and hire the best candidates for open positions and by following these mentioned tips, by tracking these metrics as well as the strategies , we are hopeful that you can gain insights into the effectiveness of your pipeline and identify areas where you can improve.