As many companies felt the squeeze of COVID’s effect on their industry, they had to make tough choices. Many highly qualified professionals suddenly became available, adding greater depth to the short-term talent pool. And, with the advent of remote work, the talent pool also grew wider because location is no longer a limitation. Companies that have a work-anywhere mindset are in a highly advantageous position when it comes to new hires. But to capitalize on the importance of talent pipeline your company needs to stand out.
What is the Talent Pipeline?
We’ve all heard of the “talent pool,” the ocean of prospective employees companies post job listings to in hopes of one, or several, great candidates. The “talent pipeline” is potential new hires that are a step closer to filling the vacant role. Could be they have the right certifications and necessary experience to take on the job. Perhaps their resume is one of the handful that stood out. They could also be an employee within the company who is familiar with the job, or has exhibited the skills necessary to fill it.
How do you build a strong talent pipeline for external candidates?
You can’t simply reach out to potential new hires every few months or so and hope they remain unemployed on the off chance your company is in need. The best thing you can do to attain the best candidates for a strong talent pipeline is posting an accurate job listing. Even if the position doesn’t seem to have changed much since the last hire, review the posting. See if there are qualifications that no longer really seem to apply, or new ones that could be a deal breaker.
How do you build a strong talent pipeline for internal candidates?
But your best chance at building strong talent pipeline starts with your current employees. What can you do to help them achieve the qualifications you’re looking for in potential vacancies? One of the best ways you can advance the company workforce is by incentivizing education and certification efforts. If they’re interested in taking online courses or attending conferences to grow their skillset, give them a path to do so.
Another opportunity is establishing an entry-level workforce program. Help fresh graduates understand the workforce and what direction they might want to take. Establish a mentorship program so they can work in a number of different departments. This will help them realize which path might be best for them while helping them understand how each department works within the company.
Attracting Strong Talent
Not every job can be a dream job. But benefits go a long way toward bringing it to that level. Some benefits are fairly standard: 401K matches, health and dental, paid leave. Remote work used to fit on that list – offering a work-anywhere option is a higher level of benefit. Now it’s standard and likely to remain. How can companies acknowledge the importance of talent pipeline stand out?
Many people have had it with big city life. They’re looking for new places to live and work from. What’s more, some companies are supporting this move through delocation. Many companies previously offered relocation packages to employees moving to new areas for work. Delocation is a similar offering. Instead of helping them adjust to the area where corporate headquarters or the new branch might be, the package is a benefit to help them adjust to where the employee wants to live.
Not sure what a delocation package should look like? Don’t worry, we have you covered. Check out our Delocation Allowance offering.