In a tight job market, it makes a lot of sense to grow and nurture your talent pool. The reasons are simple. Your talent pool consists of people who can do the work that you need done. They are very valuable to you as a result. A talent pool that you’ve used before is doubly valuable because they are proven quantities: they had the skills and experience to do the work to your satisfaction and know the ins-and-outs of your company.
It can cost from two to three times an employee’s salary to recruit a new person for the position. Those costs come from having to recruit a new employee, interview candidates, train the person hired, and onboard them. In addition, of course, no one is fully productive during their training period.
Those costs can be greatly reduced or even eliminated by re-using the talent pool. There’s no recruitment period, there’s no interview process, and training and onboarding have already largely taken place.
So how can you facilitate re-using your talent pool? Here are some tips.
Determine what you will need going forward
There’s no substitute for a good plan. Determine what you will need in the future. Think about the skills and positions you are likely to utilize. What is your growth forecast? Will you be expanding into different locations? This is all information that can help you define what you need the most from your current talent pool. It’s information that a staffing agency can use to help you grab top quality workers for your talent pool.
Segment the talent pool
Determine the various segments of the talent pool. Potential segments include work experience, specific skills, education, and location.
Develop methods of keeping your talent pool informed about your company
In a tight job market, it pays to keep in touch with your talent pool. Send them specific information about the company, letting them know they are valued contributors and that the company plans to hire in the future, for example. A newsletter on a periodic basis, such as monthly, is a great vehicle to keep your company in mind. You want your talent pool to think first about your company when they want more work.
How a Staffing Firm Can Help Your Business
Staffing firms can provide valuable assistance to businesses in reaching out to a talent pool and develop methods to re-use and communicate on a steady basis. We’re happy to help. Contact us today.