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January can be a difficult time for many businesses, with resignations more likely than at any other time of the year. The impact of a sudden resignation, particularly by a key member of staff, can be devastating, not only for the efficient running of the business but also for other members of the team.
Most managers will have a story about how an unexpected resignation led to a long and protracted recruitment process to try and fill the gap. But rather than reactive hiring, taking a more proactive approach can help to reduce this stress.
What are talent pools?
Talent pools are shortlists of candidates who are not currently being considered for a role but who have the type of talent you could use in your organisation. Research has shown that while only 30 percent of the workforce is looking for a new job at any one time, 85 percent would be willing to talk about a new role. That allows you to discuss opportunities you may have in the future.
A talent pool can consist of:
- Candidates your team has sourced
- Leads from events and career fairs
- Previous applicants who were unsuccessful
- Executive and corporate searches
- And much more…
The role of talent pools
Proactively building a pool of prospective candidates with the talent you need can help you stay ahead of the recruitment curve. Rather than constantly playing catch-up, you have a queue of qualified candidates who have shown an interest in working for you.
In our experience, not nearly enough businesses or hiring managers effectively talent pool throughout the year. With so many different methods of contacting prospective candidates, from job boards to social media and LinkedIn, there’s no excuse for not keeping one eye on the market. Of course, you have to paint an honest picture in regard to the timescale, but if you do, talent pooling could be an extremely successful approach.
Driving businesses growth
You should be building your talent pool all the time, but particularly when things feel stable. That’s when an unexpected resignation will bring you crashing back down to earth. Without a talent pool to turn to, recruitment decisions can be a knee-jerk reaction. The result is quick new hires which plug the gap but rarely work out in the long-term.
In an ideal world, hiring managers would have a stack of applicants who are ready and willing to fill any vacancy. In reality, there’s likely to be some disconnect between the perfect candidate and the right opportunity or time, which is why talent pools can play such an important role in driving business growth.
How can we help?
How fantastic would it be to have three or four prospective candidates who you could turn to plug a recruitment gap? At DB Charles Recruitment, we can help you put talent pooling strategies in place to future proof the human element of your business. To find out more, please get in touch with our team.
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