How To Improve Your Talent Pool

In the current competitive job market, companies that are able to attract and retain top talent have a significant advantage over their competitors. One way that HR professionals can build a competitive advantage in this area is by developing a robust talent pool, which can boost the speed of the hiring process, reduce recruiting costs, and ensure that the organization has a steady supply of skilled workers for the future. 

Read on to learn more about talent pools and how to manage them effectively.

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Understanding The Talent Pool

A talent pool is a group of potential job candidates who have already expressed interest in working for an organization or who have the skills and experience needed for future roles with the company. Building a strong talent pool is an important strategy for HR professionals and organizations seeking to attract and retain top talent.

To create a talent pool, HR professionals typically source potential candidates from a variety of channels, such as job boards, social media, employee referrals, and past applicants. Once candidates are identified, companies will assess their skills, experience, and cultural fit. Then the candidate is then officially added to the talent pool and can be considered when filling open roles or proactively recruiting for future needs.

One of the key benefits of a strong talent pool is that it allows HR professionals to fill open roles quickly and efficiently. Instead of starting from scratch with each new hiring need, HR can tap into the existing pool of candidates who have already expressed interest in the company. This can reduce the time and cost associated with recruiting and improve the quality of the hire by selecting from a pool of pre-screened candidates.

In addition to improving the efficiency of the hiring process, a strong talent pool can also help organizations build a pipeline of highly skilled and engaged candidates who are ready to take on future roles when they become available. By investing in ongoing communication and skills development opportunities for potential candidates, HR professionals can build relationships with candidates over time and keep them engaged with the company even if they are not currently looking for a job. Overall, a strong talent pool is a critical component of modern HR practices and can help organizations gain a competitive advantage in the job market.

Strategies for Developing a Strong Talent Pool

To develop a strong talent pool, organizations can take several key steps.

First, they should invest in a robust company culture that attracts top talent. This can include highlighting employee testimonials and emphasizing the company's mission and values. By promoting a positive employer brand, organizations can attract high-quality candidates who are aligned with the company's values and mission.

Organizations can also leverage technology to build a talent pool. This can include using applicant tracking systems, social media, and email marketing tools to source and engage candidates. BerniePortal’s Applicant Tracking Feature is a great example of technology that you can leverage to boost your talent pool! 

Other examples include social media platforms like LinkedIn and Twitter, which can be used to identify potential candidates and share job postings. Email marketing campaigns can also be used to keep potential candidates informed about company news, job openings, and relevant industry trends.

It is also critical for organizations to create a candidate pipeline that includes ongoing communication and skills development opportunities for potential candidates. This can help build a relationship with candidates over time and keep them engaged with the company even if they are not currently looking for a job. 

For example, organizations can offer webinars, training courses, and networking events that provide candidates with opportunities to learn new skills, meet other professionals in their field, and stay up-to-date on industry trends.

Building a solid talent pool requires a strategic and proactive approach, and by investing in employer branding, leveraging technology, and maintaining ongoing engagement with potential candidates, organizations can ensure that they have a steady supply of highly skilled workers for current and future needs.

Another key factor to consider is representation and inclusivity. It is critical that organizations maintain a diverse talent pool so that they build an inclusive workforce filled with a variety of backgrounds and perspectives. To begin Autism Awareness Month, Johnny C. Taylor, CEO of SHRM, had this to say about diversity in the workplace:

“When organizations have diverse and inclusive talent pools, there's no limit to what a company can achieve.” 

Taylor challenges leaders to be proactive in their quest for an inclusive workplace. He believes that leaders must continue challenging their notions of what the ideal employee is and looks like. 

Best Practices for Engaging With Talent Pools

Once an organization has developed a talent pool, it's important to engage with the candidates in order to build a relationship and maintain interest in the company. Here are a few strategies that organizations can use to engage with their talent pools:

Send regular communications to the talent pool to keep them informed about company news, job openings, and relevant industry trends. This can include email newsletters, social media updates, and personalized messages from recruiters or hiring managers. By staying in touch with potential candidates, organizations can build trust and demonstrate that they are proactive and engaged employers.

Organizations can offer networking events and other opportunities for talent pool members to connect with employees and learn more about the company culture. This can include virtual events like webinars, social media, and in-person events like job fairs or meet-and-greets. By offering these types of events, organizations can give talent pool members a chance to learn more about the company and get a feel for the culture, which can help them make a more informed decision about whether to apply for a job.

Offer skills development and training opportunities to members of the talent pool as well. This can include webinars, training courses, and other resources that help candidates develop new skills or improve existing ones. By investing in the development of potential candidates, organizations can demonstrate their commitment to supporting employee growth and development, which can help attract and retain top talent.

By offering regular communications, networking events, and skills development opportunities, organizations can build a strong relationship with potential candidates and position themselves as an employer of choice. It may take time, but managing a talent pool is a game of patience that can create significant opportunities for the organization in the future. 

Additional Resources

You can also stay informed, educated, and up-to-date with all things HR by using BerniePortal’s comprehensive resources:

• BernieU—free online HR courses, approved for SHRM and HRCI recertification credit
• BerniePortal Blog—a one-stop-shop for HR industry news
• HR Glossary—featuring the most common HR terms, acronyms, and compliance
• HR Guides—essential pillars covering an extensive list of comprehensive HR topics
• HR Party of One—our popular YouTube series and podcast, covering emerging HR trends and enduring HR topics