The importance of talent pooling

HR departments need to ask themselves: why should the applicant have patience? Technology simplifies everything we do nowadays — why would the candidates expect less through the hiring process?

The truth is this: if you're hiring reactively, you're on the back foot and missing out on the best talent. Being part of a hiring community, though, means that you get to connect with the right people for the job — before you even need to start searching for them.

What is Talent Pooling?

Talent Pooling is the proactive recruitment process of engaging and shortlisting potential candidates, before a role becomes available. The prior screening and engagement ensures they are a good fit so that when the role opens, the pre-approved candidates can simply be invited to apply. This accelerates the hiring process, creating an early shortlist to minimise rejections provide an overall more positive candidate experience.

So, what are the benefits of Talent Pooling:

1. Access to a live Talent Pool of candidates

2. A better candidate experience

3. Encourages diversity and increases inclusion

4. Reduce time-to-hire

5. Reduces cost-of-hire

Talent Pool functionality is critical to hiring quality, diverse talent — faster. Here's why.

1. You’ll have access to a live Talent Pool of candidates 

It’s important to emphasise the importance of ‘LIVE’ Talent Pools. Because they are ‘live’, candidates’ profiles are up-to-date with skills, availability, and experience. Not only does this improve productivity, but it also reduces the need for manual admin, allowing you to focus on other aspects of your business.

2. Talent Pooling means a better candidate experience with minimised applicant rejection

Utilising Talent Pooling results in an improved candidate experience, as it removes the need for rejection. Placing candidates into a pre-approved category and having the option to call them in the future — rather than rejecting swathes of applicants — makes for a much more positive candidate experience.

Not only does a positive candidate experience build authentic, long-lasting relationships between employer and employee, but it also does wonders for your organisation’s reputation — 39% of job seekers said they would stop using a company’s product or service after a bad candidate experience.

3. Talent Pooling encourages diversity and increases inclusion

Talent Pooling via Talent Community Platforms is a great way to promote diversity throughout workplaces. It has a proven ability to attract anyone regardless of gender, race, and other traits that may be subject to selection bias during the traditional hiring progress. Talent Pooling is a disruptor, encouraging people from all walks of life to apply and eliminating the anxiety of not meeting the criteria in the job description.

4. Time-to-hire will be reduced

Time-to-hire new staff has more than doubled in the last six years, from 28 days to an eye-watering 68 days. Talent Pooling drastically reduces time-to-hire — not only by reducing the number of applicants required to engage with, but by pre-approving candidates to minimise HR logistics once they have been selected.

5. Reduces cost-per-hire

Proactive hiring reduces the cost-per-hire by giving you direct access to a Talent Community, rather than having to wait weeks for applicants to respond to a job application. This means less time spent by HR on hiring, less interviews, and faster onboarding.

Harness the power of Talent Pooling for your business

The Humanforce Talent Suite is an all-in-one talent acquisition platform that pools pre-qualified candidates, contractors, internal staff and alumni into a single Talent Community. HR managers can analyse demand forecasts and tap into the power of volume-based hiring, with the ability to contact large groups of suitable staff depending on the job. 

Through the Humanforce Recruitment CRM, each member of the Talent Community is given a profile complete with qualifications, achievements, preferences and work history, helping managers select the perfect candidate for the role. This reduces time-to-hire and potentially, employee turnover by helping you find the right people in the first place.

The Talent Suite can also help build and reinforce your employer brand to stand out from the pack through branded talent attraction. Create career sites that showcase your organisation's culture with standout job listings, perks, and more. Enhance the application process with engaging visuals and content tailored specifically to different roles.