Establishing a Talent Pool

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Creating a talent pool is becoming mission critical. It is now crucial to have a flourishing talent pool and we are keen to explain to companies that talent management is a learnable skill because it is not just about having a good instinct about a particular person; in a nutshell each leader of a company should become skilled at how to effectively manage, attract and retain top talent.

Leaders and managers of organisations need to embrace a ‘talent mindset’, which is a deep-seated concept, meaning enhanced and superior talent at all levels of an organisation that will ultimately permit your company to outperform competitors.  This belief gives leaders of companies the confidence and determination to reinforce their talent pool.

Why should an organisation inaugurate an active and flourishing talent pool? At Cordant People IE we appreciate just how frustrating it is when companies cannot find the correct staff or efficient employees to replace retiring or departing staff.  This is why we pay great attention to developing a sufficient talent pool of skilled, capable and reliable workers.  By establishing a database of competent individuals we can ensure a company’s business continuity and productivity.  Bear in mind that our talent pool includes people who possess sufficient skills, have been interviewed and reference-checked, and as a result people from Cordant People IE will make a positive difference to your company.

As a recruitment agency we are exceptionally conscious of the fact that it is now more important than ever for every company to appreciate the relevance of creating a basic talent pool, as certain industries are lacking skilled workers and there is also a decrease in the UK birth rate.  At Cordant People IE we acknowledge that locating and matching top notch candidates to the correct jobs represents the Holy Grail of good basic recruitment.

If we consider the particular strengths of our locality, for instance Northern Ireland is now established as one of the top 10 destinations for financial service technologies investments in the world, and our communications infrastructure is renowned as state-of-the-art, it is therefore crucial that we maintain this status.  We have a solid reputation for remaining at the forefront of communications technology, as indeed it was Northern Ireland, which became the first region in Europe to achieve 100 percent broadband coverage as well as being one of the first to operate high speed, next generation services with a new 40 gigabyte per second transatlantic and terrestrial telecommunications link between Northern Ireland, North America and Europe.

Hence, a talent pool is essentially a database of candidates who could replace an employee of a company or fill a new vacancy.  It is a company’s recruitment strategy that will ultimately save time and costs but most importantly will ensure that the business continues to produce and deliver profits.

Formulating the talent pool
If for example at Cordant People IE we have several candidates for one job, those that have narrowly missed will have their details kept and we will bear them in mind for future roles.

Initially, a company should bear in mind all interviewees, who were not selected the first time round.  When a company interviews may be 4 to 6 people for one job, at the conclusion of the interview, the candidates are normally split into groups of: yes; maybe and no.  Therefore the ‘yes and may be interviewees’ will be the first candidates to go into the talent pool.

A company may consider providing work experience schemes, perhaps offering two or three week trials for students and graduates to give them an introduction into a working environment.

Companies should think about what schemes are available from the Government to support apprenticeships and work experience schemes.  A work experience scheme can give a student or graduate that first crucial opportunity of getting inside a company and receiving first-hand experience of company procedure, this would particularly benefit the engineering industry where at the moment there is a huge deficiency of students enrolling at colleges and universities for engineering courses.

A company could, consequently, keep on record (talent pool database) all candidates who have had work experience within the company, were impressive, hard working and fitted into the company’s culture.

However, all organisations should bear in mind the significance of the Data Protection Act 1998.  If a company decides to keep a candidate’s information, with the intention of contacting them should a future suitable position arise within the company, they should ask for that candidate’s permission, thereby giving them the right to be removed from the company’s talent pool database, if they so wish.

Risk of allowing the talent pool to decrease
A company should assess and calculate their talent pool every couple of months, by contacting potential candidates to see if they are currently available for work, and to inform them that although they have no jobs at present, there is a chance that this could change at a future date.

This way an organisation is keeping candidates keen, whilst at the same time building up an initial rapport with them.  Also by liaising with candidates, a candidate could inform a company, that they are now studying for an extra qualification, which, as well as making them more employable, could provide an alternative opening to them in the company.

Approach unemployed candidates carefully and tactfully.  A company should consider that unemployment is a delicate matter for any person regardless of their job role, and they should not give candidates false hope when contacting them merely for the objective of their talent pool database.  For example if a company knows there will be no recruitment for some time (this should be discussed), as this would prevent a candidate becoming irritated with a company and, with the speed and influence of social media, a company should consider their employer brand.

There will be candidates who remain in a company’s talent pool for a short time because they will have found alternative employment.  Therefore, a company should keep an eye on the amount of candidates it has currently, and to continually focus on locating sufficient skilled and talented workers.

Dedicating time to the talent pool will ensure a company’s output. The more enthusiastic a company is to cultivating their existing talent pool, the less time it will take for that company to replace an employee leaving or to fill a new vacancy, thereby guaranteeing the continued productivity and output of the company.