The database of applicants that aren’t quite suited for specific positions within your company is called a talent pool. This pool is essentially a stockpile of candidates that will be great when something becomes available.
Sitting around, waiting on clients to apply to available jobs can be quite boring. Wishing the phone to ring is quite stressful. If you don’t have to wait on candidates to come to you you’ll be more productive and proactive. The talent pool will help keep you going, even if you don’t have any prospects coming to you.
If you’re not sure about a talent pool but are interested in learning more you’ll find some useful information below. It should help you understand why you should have a database as well as the benefits to having one. If your company needs help hiring and recruiting, start using Recruiteze. Our online applicant tracking and recruiting software makes your work easy. Click here to start recruiting easier!
Talent Pools – What You Need To Know
A database will reduce cost. We all know recruitment can be quite expensive, especially if you factor in the time it takes to train new employees. Using a talent pool can actually reduce the cost of recruitment because you don’t have to advertise as much when a position is open. The pool can actually reduce up to 50% of the cost of recruitment per year. That is quite a bit of savings when you think about it. This reason alone is enough to consider building your database even though it takes some time to do it correctly.
Talent pools can also reduce the time it takes to hire. Why? Because, you’re not starting from scratch. You don’t have to take the time to write out job descriptions or post them on job boards. You don’t have to recruit on social media. Just take a minute to filter your talent pool and find the perfect candidate without any hassle. Believe it or not, 50% of all businesses that use a talent pool or applicant tracking system actually reduces their hiring time.
Databases are a great way to connect with talent continually. This is also great for the future. You won’t have to search nonstop for the perfect candidate. They’ll be there waiting for you in the talent pool. If you take the time to update the potential applicant’s information you’ll have an even bigger advantage. Constantly keeping up with them ensures that they’re still qualified and right for the job.
Remember, reducing costs, identifying skills and shortening the time for the recruitment process can all be achieved with help from a talent pool. If you’re interested in learning more about an applicant tracking system be sure to contact us.
Creating A Talent Pool
Below, you’ll find information that will help you create the best talent pool for your needs.
Collect data – Decide how you’re going to collect the data first. Whether you’re going to use an applicant tracking system or manually collect the data choose your method upfront. That way you can have a continual, consistent way to pool talent. We suggest using applicant tracking system software. It’s a great way to collect data in a stress-free way that is nothing but organized and straightforward.
Advertise – If you advertise your company once a month on social media and other job boards you’ll be able to keep yourself front and center with job seekers who might want to apply to your company even if you’re not hiring. These people are the ones who you will be adding to the database.
Use social media – Social networking is a great way to interact with potential candidates. Use Facebook, Twitter and LinkedIn to engage and offer useful information about your company.
You can also use current employees to build your talent pool, especially those who are in entry-level positions. It’s not likely those workers will want to stay at that level forever. They will want to continue their education and advance to higher positions. Be sure to add them to your database. Continually keep up with their progress and make sure they’re always learning more. Believe it or not, people who are hired for a new position in-house are less likely to be fired. More than 60% of external hires are less likely to keep their job. They’re typically terminated for one reason or another.
Building a talent pool is key in effective recruiting. Shorten recruitment process time, reduce costs and take advantage of having the best talent right at your fingertips. Remember to use an applicant tracking system to make things easier and also consider current employees for your database. We hope this information helps you get started with your talent pool! Let us know how it goes.
Need Free Online Applicant Tracking – Use Recruiteze!
Want to cut costs and free up hours of your day? It’s possible with free online applicant tracking. Did you know that Recruiteze can help, for free! Recruiteze is our free system for online applicant tracking. It lets your job candidates easily apply to your open positions and be added to your database immediately. As an end-user, you’ll be able to also access resumes online and make changes quickly. Recruiting based on client needs has never been easier with your custom job board. It allows your job candidates and customers easy access to information and creates a level of professionalism expected in today’s marketplace.
Already using a free online applicant tracking system to help you organize job candidates? iReformat makes for the perfect addition. iReformat allows you to format resumes with ease for free! In addition, we are proud to offer you a free 15 day trial of any of our other memberships. Other packages start at $10 per month and offer unlimited support, users, and more!