“U.S. employers are taking longer—25 working days, on average—to fill vacant positions. That is a 13-year high.”
-Why Companies Are Taking Longer to Hire
The Wall Street Journal, September 2014
If you’re finding that it’s harder than ever to recruit top talent, you’re not alone. Globally, “38% of employers report difficulty filling jobs – the highest proportion since 2007.” 1
The lack of available applicants is a top reason.
So, in an environment where more companies are competing for fewer candidates, how do you ensure that you can continue to find and hire the right people? Talent pipelines are the answer, and you’ll see why by reading our newest whitepaper, Talent Pipeline Transformation That Gives You an Unfair Advantage.
Here’s why: your talent pipeline sources already exist. Are you ready to recognize, develop, and leverage them for the valuable talent resources that they are?
Consider the Source
Your recruiting process generates an ongoing stream of viable candidates who apply for your various job openings. Creating repositories of these candidates who were interested in your company but for whom there was no appropriate opening provides you with a short list of candidates that have a positive association with your firm’s employer brand.
Your workforce offers another supply of potential candidates. Recognizing the talent that exists already in your organization demonstrates that you are committed to talent mobility, and gives employees the opportunity to develop their skills and careers. This internal talent source is filled with candidates who prove their loyalty to your company every day.
Leveraging these pools of pre-vetted, interested, and qualified talent enables you to fill gaps in skills and roles quickly and to get the right people into the right positions faster.
Once integrated into the talent pipeline, you can assess candidates’ skills and keep them “warm” by staying in touch with them about potential openings and company news. Their application data helps you identify and match specific skills, interests and strengths to your available and future job needs.
Employee data similarly can spotlight the talent that is in place and allow you to identify interest as well as opportunities for growth, development, and succession strategies. Ultimately, you’ll have a pool of qualified candidates who are eager to step in when a relevant role becomes available.
Turning a Pipeline Dream into Reality
Despite the benefits of building talent pipelines, many organizations struggle to do so. When asked what keeps them awake at night, 73.8% of talent management professionals surveyed reported “developing robust talent pipelines” as one of the major issues. 2
A pipeline strategy, the right technology partner, and buy-in from your leadership team are key factors to pipeline success. Data capture and evaluation also are essential, and provide critical insight into the type of talent you need to acquire in order to align the pool of candidates with your business and workplace goals.
In the end, when implemented effectively, a talent pipeline can be a significant differentiator, one that will provide you with a highly qualified and engaged pool of candidates – and that will set your brand miles ahead of your competition.
Take the first step to creating your unfair advantage. Download Talent Pipeline Transformation That Gives You an Unfair Advantage.
Download the White Paper
1 [Source: ManpowerGroup, 2015 Talent Shortage Survey http://www.manpowergroup.com/talent-shortage-explorer/#.VbZNpPlVhBc]
2 [Source: PeopleFluent Survey]