There are many reasons why organizations are investing in finding the right talent, rather than just new talent. Each new hire brings the possibility of renewed energy and fresh ideas, but also carries risk associated with lost time, security issues, and information transfer. There are considerable costs that will immediately effect the organization and position lifetime. Especially if the new hire needs to be replaced, then the risks are repeated along with consuming twice the resources.
Most organizations are vying for the same candidates in the talent pool. Candidates who are usually working but interested in switching jobs to find a better organizational culture or skill fit make up 30% of the talent pool (Lewis, 2013), making competition stiff. There are also active candidates who are investing all of their time and energy into finding a job and passive candidates who are currently employed and uninterested in seeking new employment. There is top talent in all of these candidates, and traditional recruiting methods have not been reaching passive candidates. Social media has become an active way to deepen relationships, build trust, and integrate your brand message to potential talent. This goes beyond merely posting current job openings, but connecting your organization with people.
Step away from traditional recruitment approaches and begin with defining your talent profile. Use it as a benchmark for hiring, staffing and recruiting to identify an ideal employee persona. Do not just rely on posting open positions and hoping to receive the applicants that fit the profile. Create a plan and actively seek out all candidates in the talent pool to obtain the best fit for your organization.
Utilize a short-term approach that is combined with a long-term prospective on engagement. It allows the company to:
- Find more ideal candidates and reach the entire candidate pool
- Increase the number of ideal candidates into the recruitment funnel
- Improve the amount of ideal candidates hired
Create a Segmentation Profile
- Create an ideal candidate profile that suits your organization’s needs
- Research top performers in your organization to identify attributes and behaviors
- Establish top channels to reach the ideal candidate
Develop Key Messages
- Designed to target and attract top talent
- Drive branding and content for job postings, networking, and advertisements
- Reach ideal candidates during all recruitment levels with a consistent message
- Distinguish common groups, subscriptions, and universities to post job openings and organization news
TRM (Talent Relationship Management)
- A relationship established to nurture potential ideal candidates
- Keep your organization at the forefront when talent may be seeking a new position
When the ideal candidate is established, build the brand and message to reach them. Utilize external and internal activities to grow your own talent, hire those who fit into the organization culture, and transform the company to a high performing organization. It is vital to your organization’s strategic direction and talent development to introduce new technologies to stay up-to-date with industry trends and establish tools to measure the talent pipeline and candidate interaction. Invest in an applicant tracking system, performance planning, leadership development, and learning management technologies. None of these are done in isolation but in layers.
Lewis, S. (2013, July). Strategic Talent Sourcing – Ensuring a Robust Talen Pipeline. Webinar presented by HR.com.