How good is your talent pipeline?
One of the main problems why companies take so long to fill an open position is because they don’t have a solid pipeline. They don’t have a pool of talented candidates suitable and ready to fill vacancies.
In a recent Lee Hecht Harrison survey of 374 HR and recruitment professionals, the question asked; “Looking ahead our talent pipeline is:”, found the following results..
- excellent – 4%
- good – 58%
- poor – 30%
- non existent – 3%
- don’t know – 5%
So while over fifty percent answered answered good, it still means there’s room for improvement. With over a third as either poor, non existent or don’t know, we can see that many companies don’t invest enough time and effort into filling their pipeline.
What are the advantages of having a talent pipeline?
You reduce your time to hire. This not only reduces your hiring costs but also means downtime from a skills shortage is reduced. Remember that turnover costs more than just hiring a replacement.
So how can you build a pipeline?
- Strengthen your employer brand
Turn your company into one everyone would love to work for. You can do this in a number of ways, including through your recruitment process.
- Engage your communities
Keep potential candidates interested and up to date with your company by posting regular updates on your social media platforms. Don’t forget to reply to questions and comments. Let them feel like they’re involved and being listened to.
- Past candidates
Someone that may not have been suitable a year ago, may now be the perfect candidate for your open position. This is why you should always treat your candidates properly and reject them the right way.
Your employees know your company, the culture and the way it works. Therefore they’re the best people to know who would fit.
- Look internally
Have regular feedback sessions with your employees, find out how satisfied they are, what they’d like to see improved and what their career goals are. This way, you know exactly where your employees want to go and whether they’d be interested in different opportunities that open up.
Know any other ways to build a strong talent pipeline? Let us know below!