Talent Pool Management: Proven Tactics For Effective And Efficient Staffing
Chapel Hill, NC - With a still struggling economy and an aging workforce, talent pool management plays a critical role for companies today. According to research and consulting firm Best Practices, LLC, top recruiters share that talent pools are stronger when recruiters, hiring managers and employees all contribute to finding qualified candidates from multiple sources. Additionally, thriving staffing organizations report they focus their resources on activities that have the greatest impact on talent pool generation. Furthermore, to manage additional personnel challenges such as new customer bases and changing employee skills, savvy staffing organizations partner with human resources departments to retain existing employees and hire new talent that will strengthen and refresh the workforce.
Best Practices, LLC's report "Achieving Superior Staffing Performance" reveals tactics that detail how some of the world's leading organizations manage their talent pool effectively.
Findings from the study include:
- One benchmarked company has an active employee referral system,
typically accounting for 30% to 40% of total new hires. This pipeline
of qualified candidates helps the company's staffing organization to
quickly fill requisitions - one of the company's divisions has a time-
to-start of 50 days (compared to the benchmark average of 67 days for
companies that record time-to-start).
- Another benchmark partner approaches job posting and advertising as an
extension of its marketing strategy. Recruiters work closely with brand
marketing teams to insert key messages that promote the company as a
great place to work and upholds its brand identity. Staffing executives
report that having the help of brand teams strengthens job requisitions
and helps increase its pool of qualified candidates. As a result, the
company has one of the lowest time-to-start measurements in the
benchmark class - 40 days.
- Although most of the companies studied reported using competitor rosters to improve the quality of their talent pools, they did not cold call these candidates themselves. Instead, companies might employ external search firms to call candidates at competitor organizations, maintaining some distance from the often unseemly process and uphold a "fair competition" mentality.
SOURCE: Best Practices, LLC