What is a Talent Pipeline?

what is a talent pipeline

Who you have on board within your organization are easily your greatest assets. They have the potential to take your company to the next level… or not. This is why having an effective recruitment strategy in which you can identify qualified candidates with potential maximizes your chance at having a strong future within your organization.

Establishing a talent pipeline as a foundational part of your recruitment process can not only save you time but position yourself to make the best hiring decisions without feeling like you’re starting from zero.

What’s a Talent Pipeline?

A talent pipeline, also known as a candidate pipeline, is the proactive process of identifying and developing individuals who fit the criteria needed to fill key roles as they become available. Essentially, it’s a database of candidates that are expertly sourced, developed, and nurtured over time. A recruitment research firm like Corporate Navigators can source candidates and develop them on your behalf, providing a solid foundation for a candidate pipeline.

By staying ahead of important hiring needs, a talent pipeline ensures that you have a steady supply of qualified candidates in your time of need. This strategic approach to sourcing, nurturing, and managing a pool of potential candidates ensures that nobody’s panicking when future job openings arise within an organization.

How to Build a Talent Pipeline

Step 1: Identify & Attract Candidates

The first part of talent pipeline management is to generate a list of candidates. Therefore, you should start actively sourcing and engaging with potential employees through various channels, such as job boards, social media, networking events, or partnerships with educational institutions. Often, these individuals will be passive candidates, or people already employed elsewhere.

If you want to expedite this part of the process, then you can hire a recruitment research firm like Corporate Navigators. These firms can identify qualified candidates who are already working at other companies, providing a high-quality talent acquisition source that is not easily accessible through public information.

Step 2: Establish Relationships

Since these candidates are meant to fill the hiring needs of tomorrow, it’s important to develop a good relationship with them so they will be ready for your call later. Therefore, step two is all about building rapport.

As you stay in tough with high-potential candidates through an ATS or your own methods, you are safeguarding your company’s future talent needs. Consider sending positive news about your employer brand through an email campaign or share feedback from a positive candidate experience at your company to make your outreach more effective.

Step 3: Assess & Screen

To ensure your list is curated for future hiring needs, you should continuously evaluate your talent pool. After all, your needs are bound to evolve over time. Check in to determine their qualifications, skill sets, and fit for future roles.

Then, as the time approaches to meet a skill gap or prepare for a new role, you can move forward and start with some preliminary interviews and skill assessments to further determine their fit.

Step 4: Interview & Onboard

After identifying and staying in touch with qualified candidates, the time will eventually come when an open position is available. Based on your previous assessments and screenings, it’s time to interview some potential new hires and go through the onboarding process.

You may have the fortune of finding an excellent fit who needs little to no scaffolding. Or, you may find a near prefect hire who just needs some training to assume the role. The more you prepare, the better the outcome should be when it comes to candidate readiness.

The Benefits of Having a Talent Pipeline

  • Faster & More Efficient Hiring: Having a pre-identified group of qualified candidates reduces the time spent searching for and recruiting new employees.
  • Less Stress: By shortening your time-to-hire with a ready-to-go talent pool, you can breathe a little easier and lower those cortisol levels.
  • Reduced Recruitment Costs: By continuously nurturing a pool of candidates, you can lower the costs associated with external recruitment efforts… meaning more investment in your future team.
  • Better Talent Matches: Proactively building relationships with hand-picked candidates increases the chances of finding the most qualified employees, as recruiters have already identified and developed talent with the right skills. You’re not finding people in a rush or depending solely on job applicants from the wild.
  • Chances for Improved Retention: By developing employees within the talent pipeline, you can potentially retain top talent by simply having the right person in the right role.

A well-managed talent pipeline enables organizations to stay competitive by ensuring they have the right people ready to step into roles as business needs evolve.

Talent Pipelines: Your Panacea for Planning

Whether you’re succession Planning or just want to see what talent is out there in areas you want to grow as a company, having a talent pipeline is integral to meeting future hiring needs. If you need to establish and develop a talent pipeline, also known as a candidate pipeline, contact Corporate Navigators today. We can set up an initial meeting to discuss your talent needs and develop a talent acquisition strategy that works for your scope and budget.

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