Getting your candidate search right is one of a recruiter’s top concerns. It’s part of the foundation of how you’ll build a strong pipeline and drive your agency forward.
Before you jump back on LinkedIn to post about an open role, consider the candidate search strategy that’s close to home: examining your database.
Access to a diverse pool of qualified candidates is the first step on the road to success. It takes time, investment and persistence to build a great talent pool, but the results are worth it.
In this guide, we’ll explore the benefits of talent pools and some top tips on how to build one.
Table of Contents
1. What is a talent pool?
A talent pool refers to a database where recruiters can source highly qualified candidates. They’re made up of not only the candidates you’ve actively reached out to but also those you’ve sourced with passive recruiting.
Recruiters can often find themselves stuck in a state of constant candidate outreach and follow-ups, which can become a large part of day-to-day operations.
Successful recruiters take a proactive instead of a reactive approach. Building quality talent pools is part of what helps to respond faster to clients and stay ahead of talent needs. We know it’s becoming increasingly more challenging to stay competitive in the recruiting game, but building and nurturing a strong talent pool is the best place to start.
2. Why does your recruiting agency need a sustainable talent pool?
Talent pools are a goldmine of data for recruiters. They prevent recruiters from having to start from scratch when sourcing potential talent, and they also allow consultants to proactively reach out to suitable candidates as soon as a role opens up.
A strong talent pool will include candidate details such as:
- Contact info
- Skills
- Key strengths
- Potential good-fit roles
- Current employer
Talent pools provide plenty of benefits to recruitment agencies, including:
2.1 Reducing time and cost
Proactively recruiting and sourcing from a strong talent pool helps recruiters reduce the time and cost associated with finding new talent. This is especially beneficial when they receive a large number of applications for a role.
Recruiters can also use it as an opportunity to build strong relationships with potential candidates, as nurturing relationships with talent over time might encourage them to consider working with you in the future.
2.2 Enhancing reputation
Candidates will most likely reach out to recruiters who provide a favorable candidate experience, and those that have spent time building relationships. This will instill trust, which can enhance your ability to build a strong talent pool.
2.3 Faster onboarding
Recruiters need a fast turnaround time to place roles if they want to get ahead of the competition. The talent pool in your database should be the first place to look, as it’s full of individuals who’ve already shown interest in working with your agency. Whether they're the right fit for a current role or not, they’re at least familiar with your agency. That helps lower time to hire, compared to going out to source new candidates.
3. Tips to build up a talent pool for your agency
Here are a few talent pool tips to get started:
3.1 Sourcing tools
Sourcing tools are software applications that help recruiters proactively scout potential candidates. It’s the most common and effective method to start building a quality talent pool. It’ll help you build a database of resumes and other relevant information about candidates.
There are many online resources that’ll allow you to search based on specific keywords, which will return compiled results from sites like LinkedIn and other SEO-optimized job sites. This provides recruiters with valuable information about their candidates and backgrounds before they even apply.
3.2 Inbound recruiting
Inbound recruiting is another effective way to attract and source more candidates. It’s essentially creating a positive brand image through content marketing. Showing a positive agency culture can steer candidates directly to you through social media.
Inbound recruiting helps create opportunities for passive and potential candidates to find your company. Get creative about how you post open job positions. One prime way to do this involves creating engaging and SEO-optimized content to connect with job seekers.
3.3 Recruitment technology
Technology is rapidly changing the way agencies recruit talent. 94% of recruiters and hiring professionals say that using recruitment software has positively impacted their hiring process. As digitization in recruitment evolves, it's up to each organization to adapt and seek new ways to stay on top and attract talent.
Access to candidate information is far from scarce. And although talent sourcing is becoming more transactional for some, technology can also allow for more interaction and engagement.
Tech can help recruiters source talent from any location, city, or country. It can boost productivity while still saving time and money. A modern interview process with tools like AI can also help eliminate bias through the interview stages.
If you're looking for a recruitment agency software solution, consider checking out Vincere. Vincere helps recruitment agencies connect and source thousands of potential candidates, giving you the firepower to build up an effective talent pool, fast.
4. Steps to create an effective talent pool
Here are five steps on your journey to building up a talent pool:
4.1 Define your goals
Let’s start by defining your goals. Ask yourself these questions:
- What do you hope to achieve with this talent pool?
- What strategies can increase the number of qualified candidates for open positions?
- How will you identify and track top potential talent?
- What metrics or skills will define a “high-quality candidate”?
Once you've figured out what you're trying to achieve, it's time to map out a plan.
4.2 Decide what type of people you need
Not all talent is created equal. You'll want to tailor your search depending on what type of candidates you need for a particular role. Some job positions will require a niche skill set, experience, or knowledge. Without a talent pool, tracking down the right person to meet these criteria can be extremely time-consuming.
You might be aiming for generalists - candidates who have basic skills and are perfect for training. These candidates are easier to come by and will help grow your pool of candidates faster. However, you should never sacrifice quality for quantity.
Accept potential candidates from a wide range of backgrounds, and implement strategies to narrow down the funnel as you go.
4.3 Scout for talent
The ideal candidate and the perfect opportunity are rarely aligned. The best way to find talent is to know you can find it anywhere and everywhere - think outside of the box.
Online resources such as LinkedIn and other job sites are a recruiters' dream, but don’t forget that traditional sourcing methods like job fairs and industry events can also pay off. And job advertisements are the go-to choice when you need to do more with less time.
4.4 Screen candidates
Once you’ve found those purple squirrels, it’s time to start the screening process. This means reviewing their resumes, conducting video interviews, and scheduling in-person meetings.
Although this process can be made more efficient, it’s important that you take the time to evaluate each candidate thoroughly. After all, it’s a reflection of your strengths as a recruiter that you can separate the good applicants from the great.
4.5 Monitor your talent pool
Your talent pool won't do you any good if you don't monitor it regularly. Check in on your potential candidates to see how they're progressing in their roles and whether they might be interested in a new one. Make sure you're constantly adding new people to your talent pool so that it stays fresh and up-to-date.
It’s important to build relationships with your candidates. Today's follow-ups will go a long way and will most likely benefit you down the line.
5. Final thoughts
There’s no time like the present to build up a better talent pool. With ever-evolving digitization and new methods for sourcing, the opportunities are greater than ever. And with the right systems in place to boost business success, your growth and achievement can't be far behind.