The four things that make up Talent Pipelining
When most people think of talent pipelining they might think of instant access to the perfect candidate or instant access to a group of candidates that is prescreened, pre-negotiated and ready to go. Well, that's not always the case. While it sounds like a great idea, the reality is a tad more complicated. To briefly discuss what Talent Pipelining is, let’s first talk about what it does.
To state it simply, Talent Pipelining is the alignment of the best qualified talent that’s out there to what your company needs, when your company needs it. That’s really about it. Now you can complicate that as much as you want and add all kinds of bells and whistles but it’s just that simple. Therein lays the rub though. Most companies really don’t know what they need, nor when they really need it.
This brings us to the first thing that makes up Talent Pipelining:
- Talent Demand Planning - By taking a look at the demands coming from all portions of the business, you can fully understand what talent will be needed in your organization. Without a full understanding of what the demand of the organization looks like, you become completely reactive. And it will be a continuous loop of bad talent choices. Insert market standard cost of a bad hire stat here:
Once you have a sketch of what you need, the next key piece is knowing where they are.
- Sourcing – The numbers speak for themselves when it comes to posting open positions, the percentage of the population that can be accessed is minuscule. Referrals are great, but again, a very small portion that can be reached. Headhunters can work well, but once they get past their network, they are usually tapped out. As strong, robust, continuous, iterative sourcing function is the heart of a strong Talent Pipeline. If I’m looking for a Java developer with mobile integration experience, why can’t I just have access to ALL of them, not the three that are unemployed and responded to my Monster job ad.
- Interviewing – Most small business owners interview from a standpoint of necessity. They do it because they have to. They are driven by the fear of making another mistake and having that mistake cost them another “$186, 000” (see above). A consistent, measurable, repeatable interview process that gives consistent outcomes is key to successful hires. By having a scoring mechanism that drives consistency, the quality is increased. When we hire by gut we are tied to your internal belief system and the external stimuli that affect our judgment. Like coming to work in extra bad traffic, the dog peeing on the rug before you left the house, or that last minute science project that your son told you was due today, five minutes before they had to get on the bus. A morning like that will not put you in the best of moods to complete a thorough interview.
And that brings us to the communication portion of the process.
- Candidate Communication – Through sourcing and interviewing, hundreds of candidates may be communicated with. The timing may not be right for some and the purpose of Talent Pipelining is to have a group of candidates that know your employment brand. By having strong candidate communication processes in place, candidates that merely express interest in your company can be engaged in a dialogue over time. The candidates are stored in an applicant tracking system, your marketing group already has content, and you can automate communication via social media through your employment brands social media channels.
Avancos has built a scalable, consistent, repeatable Talent Pipelining system that facilitates our global clients growth, allowing them to achieve their business objective. Contact us to discuss how Talent Pipelining could benefit your company.