A talent-first mindset is critical for success in a rapidly changing business environment. Business leaders must focus on shaping a workforce that has the skills to deliver business goals now and in the future. Talent can drive a business to success but lack of it can break a business. Building vibrant talent pools is an astute way to safeguard against a dearth of talent in the future.
A talent pool is a community of qualified reserve talent that could fill future roles in an organisation. Building a talent pool is a proactive recruitment strategy. It involves building a database of candidates interested in working for the organisation. Any team that is poised for growth or needs to plan for a future would do well to build a talent pool as part of its recruitment strategies.
The right opportunity and the right talent are not always aligned perfectly.
Organisations should scan the current employees to filter out people with the right skills but working in the wrong area. Such people can be added to the talent pool. Many a time, neither the organisation nor the employee realises that skill sets are transferable.
Skill gaps within the organisation need to be identified and existing employees must be given the opportunity to upskill so that they can be ready for future roles. An internal talent pool can be nurtured within the organisation instead of having to look outside. Such a step would build employee integrity too. Constructive support of this kind makes dedicated and strong employees feel secure and loyal towards the organisation. An opportunity to learn and build a different career path within the same organisation is an attractive perk. Many organisations are already doing this and are investing millions in the idea.
The pandemic has forced unprecedented changes in business priorities. The need to change skills has been high and many organisations have responded by quickly upskilling existing employees. They successfully nurtured their internal talent pool.
Research shows that in the US, 48 per cent organisations are having difficulties in filling roles. This is not a new situation. Pre-Covid data shows that in the US, although there were 7 million open positions, there were 5.8 million unemployed people. Similarly there were over 700,000 job vacancies in the United Kingdom before February 2020, while there were 1.4 million unemployed! This disconnect has a lot to do with skills not matching traditional job roles.
Engagement content must depend on the group addressed. A fresh college graduate would require information that’s very different from someone who has been in the workforce for a considerable amount of time. Candidates with different skill sets would expect different kinds of information too. In other words, talent pool management must have a well-thought-out strategy for success.
An important part of building a talent pool is using the right software. A growing talent pool cannot be maintained on spreadsheets and email alone. Organisations must be ready to invest in appropriate recruiting automation software and talent CRMs so that the talent management process is smooth and structured.
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