Talent pipelines: definition, strategy, benefits & tactics

There has been a drastic shift over the years in the way candidates find, apply, and interview for jobs. Companies have started hounding deserving candidates and are even willing to help the best talent relocate from a different country altogether.

According to a study by Beamery called The State of Talent Acquisition, 82% of recruiters consider proactive recruiting a top priority. So, firms no longer rely on organically-received applications.

Talent management and recruitment have become somewhat like digital marketing and now require detailed strategies to advertise in front of the best audiences and get prospects to consider applying for a vacancy. This is where we’ve seen a rise in the usage of talent pipelines.

Definition of talent pipelines

A pipeline isn’t a new concept, especially in sales and marketing. Usually, whenever a new job opening comes up, firms post job openings on their website and other career platforms such as Indeed, Glassdoor, and LinkedIn.

People stumble upon these posts, and if they find the role interesting, they apply for it. This way, an immediate need is catered to. However, is this really the best way to take care of an immediate opening?

An alternative way to go about this is to hold off on releasing the job post to the vast majority and first contact relevant talent to tell them about the opening. This is what talent pipelines are. You prepare a collection of candidates in multiple categories spanning several job roles and get in touch with them whenever there’s a vacancy.

Strategy behind talent pipelines: Who should create them?

The idea of creating talent pipelines is to help fill immediate job requirements with top talent most proactively. It reduces a business’s investment in putting out job posts, advertising them, and handling all prospective candidates. It allows a company to save the time and effort that usually go into the entire selection process, thereby establishing a productive and proactive recruitment strategy.

Any company looking to hire top talent and retain them for longer should leverage talent pipelines to recruit future employees.

Benefits of creating talent pipelines

1. Recruiters can become skilled in talent acquisition

Traditionally, a recruiter’s role is limited to filling out a requirement. The management tells them that they need x number of positions fulfilled in a particular department at a specific seniority level, and that’s about it.

This leads to them to putting out generalised job descriptions and hiring candidates that aren’t really fit for the job or the company. Piecing together a talent pipeline can help them understand the long-term and short-term business goals of the company and prepare intricate details to attract the best.

2. You can ascertain cultural fit well in advance

Since talent pipelines enable you to get a complete picture of applicants even before they have applied for the job, you can evaluate the candidate for not just company and job role fitness but also cultural compatibility.

3. The time to fill in a position is highly reduced

It takes a lot of time for a job opening to receive abundant applications. It takes even longer to shortlist the best and then conduct interview rounds with all of them. Since a collection of the best talent is already at your disposal owing to talent pipelines, you can quickly get in touch with the most qualified and pitch the job. This helps you reduce the effort necessary to fill a position.

4. Chance to engage with passive candidates

Every application you receive will not meet your requirements. This marks the point when you need to poach employees from other companies who aren’t actively looking for a job change. Since talent pipelines make sure you’ve had previous engagement with the talent, you have a better chance of getting them to consider the job.

Tactics for implementing talent pipelines

Talent pipelines follow a basic framework that you can alter according to your needs and requirements.

1. Develop employer branding
2. Identify prospective talent
3. Make initial contact and stay in touch
4. Pre-screen them for skill sets and cultural fit
5. Nurture your prospects
6. Set the interview

A candidate won’t have an interest in working for your company if they don’t know who you are or what your company does. Carefully create content to market your company keeping in mind that your target audience encompasses job seekers, passive candidates, and professionals looking for a job change. The best places to look for talent are those where the employee turnover is high that also have suitable talent for your requirements.

The most vital part of a talent pipeline is to engage, stay genuine and true, and nurture. This is a no-rush strategy to finding top-notch talent, and when the candidate drives the conversation forward, you know that you have someone who is well-invested in your company and plans to take it into the future!

Sources:

[1] What is a Talent Pipeline? Definition, Management with Examples. HR Technologist. Retrieved from - https://www.hrtechnologist.com/articles/recruitment-onboarding/what-is-talent-pipeline/

[2] 5 Reasons Why Talent Pipelining is a Win for You and Your Company. LinkedIn Talent Blog. Retrieved from - https://business.linkedin.com/talent-solutions/blog/2013/06/5-ways-talent-pipelining-is-a-win-for-you-and-your-company

[3] 3 Sourcing Strategies to Build a Talent Pipeline. The Undercover Recruiter. Retrieved from - https://theundercoverrecruiter.com/strategies-build-talent-pipeline/

[4] Talent Pipelines: Definition, Strategy, Benefits & Tactics. Beamery. Retrieved from - https://beamery.com/blog/talent-pipelines