What is a Talent Pipeline and How to Build It? – In the midst of an increasingly competitive labor market as it is today, conducting the recruitment process is very challenging. It is not easy to find prospective employees who match the required job qualifications.
Every recruiter wants the best candidate they can hire. However, in reality, sourcing top talent and inviting them to join the organization is becoming increasingly difficult. According to research, 75% of recruiters will have a hard time finding the right candidate in 2022.
Well, if you are one of the recruiters who are experiencing a similar problem. There is a special way you can do to overcome this, namely by building a talent pipeline.
If you are still not familiar with what the talent pipeline is. In this article Algobash will discuss it in full for you.
Read full also: HackerRank Review 2022: Is It Still Worth It For Tech Recruitment?
What is a Talent Pipeline: Definition, Benefits, and How to Build it
Several questions may arise in your mind starting from what is a talent pipeline, what benefits can be obtained, why you should do it, and others.
For some recruiters, this method may still sound unfamiliar to them. Well, to help you know more about this method. Here’s the full review that you can read. Get your coffee ready and let’s talk!
So, What is a Talent Pipeline?
In simple terms, the talent pipeline is a tool that companies can use to recruit suitable candidates. Where through the talent pipeline, you can collect data on candidates who are qualified to occupy various positions needed in the company.
Candidates who are included in the talent pipeline are those who have skills, competencies, and other things that match the requirements desired by the company. The potential candidates collected can usually come from external or internal companies.
When companies need new employees to immediately fill vacancies, you can immediately select potential candidates through the talent pipeline quickly and easily.
Read full also: Algobash Empowers Women Programmers Through KKC 2022
What are the Benefits of the Talent Pipeline?
There are many reasons why a company needs to build a talent pipeline and include it as a recruitment strategy. Some of the reasons are:
1. The recruitment process becomes faster
The conventional recruitment process usually takes a long time and costs a lot of money. With the talent pipeline, you can minimize these two problems.
You only need to open the candidate database that has been built previously and choose who is a suitable candidate to invite to join the recruitment process.
Imagine if you don’t have a talent pipeline but need candidates quickly? You may be overwhelmed with having to find the right candidate and start the recruitment process all over again.
2. Improve candidate quality
When recruiting conventionally, the likelihood of bad hiring increases is greater. This is very detrimental because it can undermine the company’s funds.
With a talent pipeline, you can minimize this possibility. This method also can help you carry out a more strategic recruitment process.
Read full also: Types of Psychological Tests You Should Know
How to Build a Talent Pipeline?
After knowing what the talent pipeline is and its benefits. You may be interested in involving the this method in the company’s recruitment process. Then, how to build a talent pipeline? Well, several ways that can be done to build it are:
1. Make a long term plan
To start making a talent pipeline, you can make a long-term plan. See and design what your company needs going forward.
You should be able to see what kind of employees are needed to fill vacancies in the next few years.
When making long-term plans, you must anticipate some changes that may occur and may impact the recruitment process in the future.
Think about some things like does your company have any plans to grow significantly over the next few years? Does your company anticipate a possible merger, acquisition, or other major change? Etc.
After thinking about these things, start to create strategic talent pipeline because a project requires careful planning to avoid failure or other bad things in the future.
2. Create a strategy for recruiting candidates
After making a long-term plan about what the company needs. The next thing you have to do is come up with a strategy to attract top talent.
Take advantage of various recruitment methods to screen the best candidates. If you are still confused about what kind of recruitment strategy you want to do. You can choose from the following paths:
- Social media: You can search for specific candidates through social media like LinkedIn and others.
- Network: You can interact directly with the best candidates through their social media such as LinkedIn.
- Referrals: You can search for the best candidates based on recommendations from employees in your company. If the recommended candidate is successfully recruited, you can give a bonus to the employee who recommended them.
- Candidate database: You can also search for the best candidates through the company’s candidate database if you already have one.
3. Interact with the candidates that have been collected
After searching and gathering qualified candidates, you can directly interact with them.
The interaction does not necessarily offer a job to the candidate. But build a good relationship with them slowly to create trust as early as possible. You can ask the candidate some questions such as their goals, experiences and future career plans.
4. Give an assessment to evaluate skills
The next way you can do to create a great talent pipeline is to periodically assess candidates. It aims to monitor how the progress of their qualifications.
Providing assessments is easier to apply to internal candidates than external candidates. However, you can use several strategies to assess candidates outside the company, such as holding a coding competition for a tech position.
Read full also: How to Build Strategic Social Media Recruitment Process
Tools for Building a Talent Pipeline
As we said earlier, one way to build a talent pipeline is to assess candidates. The goal is to see the development of their competencies and qualifications.
Tech positions such as developer, quality assurance, engineer and software are very important to see how they are progressing. To maintain their competence, you can take advantage of the Algobash coding test tool.
Algobash is a pre-employment assessment platform that you can use for talent pooling. You can assess candidates in the following ways:
- Through sponsorship of coding competitions held by Algobash every year such as Code Run and Kartini Koding Challenge.
- Organizing the competition independently so that participants who take part in the competition are not divided between other sponsors.
- In addition to going through competitions, you can also conduct assessments simultaneously and automatically through the coding test feature.
If you are interested in using Algobash to increase the company’s talent pipeline engagement. You can visit our website Algobash.com for more information.
Read full also: What Is Social Media Recruitment and Why Does It Matter?