What Is A Talent Pipeline?

One of the biggest challenges companies face is when employees quit without any prior notice. 49% of the current generation’s employees have stated that they would be willing to leave their current jobs within two years if they could (source).

Say an employee informs you that they cannot continue working with the company anymore. What do you do when a situation like this arises? The role cannot stay vacant, and so you have to begin the recruiting process for someone to fill in the open position. This is called reactive recruitment.

As a result of reactive recruitment the newly appointed candidate may or may not meet the expected requirements, but it is the best you could do in such a short time. This does not seem like an ideal scenario at all, and yet it is something companies face on a regular basis. So what can you do to avoid such situations from occurring in the future?

A newer strategy that companies are adapting to is building talent pipelines.

What is a talent pipeline?

A talent pipeline is a collection of potential candidates that are available to be hired by a company as and when the need arises. It is a long-term planning strategy used for the betterment of the company’s future. The main goal here is to ensure and maintain a company’s workflow by hiring the best candidates for the company.

Let’s say you have engaged with some candidates that you are familiar with, and who are familiar with your company. These candidates may not have any need in the company at that particular time, but as and when there is a requirement, they will be available to fill in the desired role. 

One important thing to keep in mind when filling your talent pipeline is to establish and maintain proper relations with your prospective candidates as many of them could be passive candidates and may not necessarily be looking for changing jobs. 

You can create personalized email campaigns to engage candidates at scale using Webbtree Talent Source. Replies to such emails sent via your integrated inbox will be received by your registered email ID, allowing you to keep track of all emails sent through Webbtree against any candidate profile. You can also maintain logs of all calls made to a specific candidate and record their outcomes for future reference!

Pipelining doesn’t always have to be external hires. Internal hires could also be considered for getting higher roles in a company, as these employees are already working for the company and understand the work culture.

Benefits of talent pipeline

1.  Helps in finding the right talent
   Many times companies hire candidates in a hurry due to urgent requirements arising out of situations out of their control, and may not have much time available to scout for the right talent. Since talent sourcing is done in a more relaxed manner it helps in finding the right employee and not just having to settle with the available ones which may not necessarily be the best fit.
   
2. Reduces expenses
   Certain roles can only be filled by candidates with a specific skill set. When these roles are left vacant, they can in turn lead to a loss of revenue for the company. Talent pipelines can help save the company’s finances by having candidates ready to fill such roles.
   
3. Saves time
   Recruiting new candidates from scratch can be a time-consuming task as there are a lot of steps involved in that process, and there may not be much time available to spare. Talent pipelining is done at a time where there isn’t a time crunch and candidates are ready to be hired, saving the company from the lengthy process of hiring anew.
   

Newer recruiting strategies are transforming the way companies hire and proving to be more beneficial. Today, 67% of companies are adding this approach to their recruiting process (source). Though it may seem overwhelming at first, understanding your company’s goals and needs and acting accordingly will make the process a lot smoother.

Planning and strategizing is key when it comes to talent pipelining. Making use of softwares like Webbtree ATS helps you to easily find candidates that will help you build your

talent pipeline in a much more effective way, and streamlines your hiring cycle to be more efficient. For instance, you can make use of Webbtree ATS to be able to schedule and add video call interviews with your candidates at the click of a button!

Webbtree ATS – an enterprise-level solution – helps you build a candidate database by automating candidate sourcing and screening processes, helping you with your talent pipelining and candidate sourcing needs! Contact us today to go from sourcing to nurturing candidates in 15 seconds!