Finding and attracting top talent / qualified candidates is one of the biggest challenges faced by HR managers & business leaders today. As per LinkedIn’s 2022 Employee study, 76% of hiring managers admit that attracting suitable candidates to fill the vacancies is their biggest challenge.
With the widening skills gap and talent shortage, employers must augment their hiring capabilities and efficiently attract the right talent. And as we have entered the year 2023, you must start exploring new avenues to earn the right candidates for your organisation. This is with particular reference to the fact your business game won’t be the same anymore but will be leveled up this year. But, more than that, you will be competing against aggressive competitors.
Let’s dive into knowing how employers can access a wider talent pool. But first, we’ll examine what a talent pool is and its importance.
What is a Talent Pool?
Structurally, a talent pool refers to a database of potential candidates who have previously shown an interest either with your organisation via your portal or any recruitment agency. The candidates included in the database are highly qualified with skills & expertise as well as aligns with your organisation’s competencies & values.
An ideal talent pool contains candidate information, including skills, potentially suitable roles, their capacity to fit in the company’s culture, and more.
How can Employers Access a Wider Talent Pool?
#1. Engaging a HR Specialist Recruiter
Many recruitment firms work hard for employers by developing a talent pool. Working with a HR specialist recruiter can help you find candidates more efficiently. With a vast talent network at their disposal, you can tap into a pool of vetted candidates. Therefore, you won’t have to wander from source to source to find qualified candidates and can access the talent pool of a recognised recruitment firm.
Not only this, you won’t be accessing an average but an extensive talent pool of higher-quality candidates.
Why have we placed this source on top of our list? Because of the benefit of catching hold of the specialist knowledge of the consultants that your in-house recruiters might not possess. Collaborating with a recruitment firm can work like magic for you, given their better knowledge and a deeper understanding of the targeted job market segments.
#2. Employee Referrals
Are you present at your office premises? If yes, then look around and name what you see. Of course, the most visible assets of your organisation are your people – your employees who are your passive source of talent recruitment.
Remember Mark Zuckerberg’s words: “People influence people. Nothing influences people more than a recommendation from a trusted friend. A trusted referral influences people more than the best broadcast message. A trusted referral is the Holy Grail of advertising.”
Reach out to your team; this tactic will earn you some carefully screened candidates. However, beware of entertaining ingenuine referrals from your employees as they might try favouring their friends or family.
#3. Social Network
Current trends reveal organisations employ people from social media platforms such as LinkedIn, Facebook, and Twitter. You can access a wider talent pool by surfing these social networks and expect some hires. So to develop a candidate pool, the key is to identify the candidates that fit your job role and separate them from others. In due course, you will be able to develop and access a talent pool to make the highly required hires.
Although exploring social networks is a great idea, you must stay cautious of considering hiring candidates that overrate themselves.
#4. Career Sites & Job Boards
Online career sites and job boards are a fail-proof idea to access a rich talent pool. Using them effectively will leave you with a candidate pool to hire quality professionals.
Make sure you choose the right career sites, as some might not suit your industry and requirements. Additionally, check for their reputation and authority.
#5. Attend Events & Connect
We are living in an era that is witnessing a surge in online and in-person events in the corporate world. As a result, employers get dramatic exposure to a talent pool when attending events and networking. Moreover, corporate events allow you to meet talented people who can convert into your next hires.
Cultivate your network and reach out to people whenever you have a hire to make. What better could you ask for than getting introduced to a pool of quality candidates? But one thing worthy of attention here is that you have to choose wisely the events to attend because some of them may not deserve your time.
The modern-day corporate culture is witnessing the power of choice being bestowed upon candidates. Therefore, exposure to a talent pool is a sure-shot way to make hires and fill vacant positions within your organisation. And when you have a rich pool of candidates, ensure you update, maintain, and utilise the database.
Need help to make your hiring journey smooth and speedy?
Allow Cornerstone Global Partners (CGP) Singapore to serve you with specialist knowledge and a deeper market understanding. Take a step forward and partner with us to hire confidently and quickly.
We operate by maintaining a candidate-centric approach, we leverage a multi-brand, geography, and service line model to allow for maximum entrepreneurship and ownership for our Teams. We offer our clients an executive search strategy to match our clients with the best talent within hours.
After analysis and research, we concluded that the CGP database, built from years of meticulous screening and upkeep, was sizable and fit the requirements for our standard. Enabling this inventory would be the key factor in unleashing the platform’s potential, allowing senior talent access top-quality jobs and at the same time, clients tap into a greater talent pool.
1. What is a wider talent pool?
A wider talent pool refers to a broader group of potential job candidates. It comprises candidates who have previously shown interest in working for a particular organisation and are highly qualified. The database could also include former employees or passive candidates. A talent pool reduces recruiters’ work of searching for candidates and makes it much cheaper. It consists of data such as skills, potential roles, how well they match with the organisation’s culture, and more.
2. How can a company attract more talent?
The most effective ways companies can use to attract more talent are:
Present attractive fringe benefits.
Provide them with a plan about how the organisation will contribute to their growth.
Leverage social networks like LinkedIn.
Build an employer brand.
Attend corporate events & network with people.
Promote employee referrals.
Reach out to previous employees.
3. How do employers attract employees?
The current market trends say that employees are looking not only for attractive salary packages but also for company culture. Besides, they also look for an organisation’s fringe benefits and work flexibility. Therefore, to attract top talent, employers must offer good salary packages matching the candidates’ skills, fringe benefits, and a healthy & flexible work environment.