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How to create and manage your talent pool in 4 simple steps


create and manage your talent pool
Talent pool


Introduction


It's an ambitious world out there for recruiters in this hyper-competitive job market! Tight deadlines, limited budget, limited access to talent, you name it! Having a pool of potential candidates (talent pool) can make the whole process a smooth sail. Not only does it save you time, but also ensures you’re getting top-notch talent! And let's not forget, building a robust talent pool helps you foster those all-important relationships with potential hires. It's a win-win situation!


What is a talent pool and why is it important?


A talent pool is like a treasure trove of top talent with whom you have already built a relationship! This pool includes current employees, talented folks you meet at career fairs or on networking sites, highly skilled former employees, referrals from your team members, and even unsuccessful applicants. With a talent pool like this, your company can meet both its short-term and long-term hiring needs with ease.

Being able to choose from a robust talent pool has several advantages:

Enhances employer brand value by improving the candidate experience. 72% of recruiting leaders worldwide agree that your employer brand can make or break your hiring success ( LinkedIn business). A talent pool helps you up your game and ensures that your brand reputation is always on point.


Reduces time and cost of hiring


It helps us to find candidates quickly and engage with them without having to start over from scratch every time a new position opens up. This reduces hiring time and costs by weaning you from relying on other job portals all the time.


Increases diversity


About 1 in 3 employees and job seekers (32%) would not apply to a job at a company where there is a lack of diversity among its workforce. Having a talent pool makes it easy to actively scout for diverse talent creating an inclusive workplace.


Better top of the funnel


When you have a talent pool you have engaged with earlier, it acts as your hotlist of talent who you can access with ease. This helps you reduce your turnaround times on resume submissions to businesses.


How to Build and Maintain a Talent Pool?


Creating and managing a talent pool can be a total breeze with the right strategic planning and execution. And lucky for you, We've got some insider tips to help you get started.


Define your talent acquisition objectives


If you want to build a dream team, you’ve got to know what you're looking for! Without a well-defined talent criterion, you could be shooting in the dark and miss out on some real game-changers - you don't want to let that happen! So, make sure you get your criteria right. These criteria should include factors such as skills, experience, location, and industry.

It's all about being focused and targeted when it comes to selecting and categorizing your candidates.


Source candidates


Once you are done with the criteria, you should start sourcing the talent. You can hit up the usual suspects like job boards and social media, and can go out and meet potential candidates in person at industry events, or even host your own recruitment events!

And here's a pro tip for you - don't just focus on filling your current roles. No, you got to think long-term. You should save those talented professionals you come across, even if they don't fit your current needs. So that you can build a talent pool around them and prepare for future opportunities!


Categorize candidates


Okay, now what? Start categorizing! That's right, you need to sort those potential candidates based on their skills, experience, and any other relevant factors. This way, you can quickly and easily find the perfect match for specific roles or projects - no muss, no fuss!

And don’t leave out your current employees. You can create an internal talent pool of those who are levelling up their skills and have the potential to rise through the ranks. This makes your talent pool more diverse.


Maintain a value-added relationship with potential candidates


Did you know that 50% of job applicants wouldn't even accept a job offer from a company with a poor reputation - even if they threw in a sweet pay raise? That's why it's so important to build and maintain relationships with potential candidates.

You can do this by engaging with them through targeted messaging, email newsletters, and social media updates. By staying in touch and providing value to these talented folks, you can build trust and increase the likelihood that they'll be dying to work with your organization in the future. Now that's how you build a brand that stands out.


Conclusion


Before we go, let's talk about the right way to create and maintain a talent pool.

You need a platform that not only helps you identify top talent but also helps you build relationships and keep them engaged. And that's where Askhugo comes in. With its powerful features and user-friendly interface, Askhugo makes it a breeze to create and maintain a robust talent pool that sets you up for hiring success. Don’t take our word for it. Sign up for a trial version today and start building your winning team!




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