Building Talent Pools and Pipelines Workshop Defining Talent

Building Talent Pools and Pipelines Workshop

Defining ‘Talent Pools’ 2

Defining ‘Talent Pools’ Many different terms and methodologies appear to be used – key ones as follows from the group Talent Pool Talent Pipeline Talent Bank Open and generic requisitions Requisition opened 90 days before a vacancy arises to pipeline candidates for a specific future vacancy Engaged candidates that have already been spoken to and part assessed 3

Talent Pooling Top Tips Only talent pool for your top talent, volume and critical roles Be open and honest with candidates and ensure you are managing their expectations Get sign off at a senior level Incentivise your recruitment team to talent pool Ensure buy in from Line Managers and HR Sort out your internal forecasting and planning first Using a great system (Harbour, Avature and File finder recommended!) Ensure there is a real business need for a particular pool Each recruiter should have 10 -30 engaged ‘pipeline star candidates’ at any one time that they are keeping in touch with 4

Talent Pooling Exercise 1 In Pairs Why do you want to create a talent pool? Which roles do you think would be most relevant? • Think Volume/ Repeat Requirements • Think Technical/ Hard to Fill 5

How To Talent Pool - Ideas Draw up a list of target companies and five people who have left and ask them who they would recommend Build mechanism for continued engagement Employee referrals New starter referrals Leverage speculative applicants Treat every pool as if it were a requisition Choose the role carefully (i. e. works well for volume requirements but won’t work for senior finance roles!) Track pools on a quarterly basis 6

Suggested Approach 1 Gold Silver • Been through selection • Standardised/ shared process • Examples of what good looks like • Salary benchmarking • Engage vendors too • Don't forget internal talent • • • Referrals Don’t know right now! May not have all criteria Qualified by recruiters Can’t have too many in this bucket • Agency freebies in here? Bronze • • • List of names No contact Talent Stalk! Linked. In followers Agency freebies? Candidates that have applied for other roles 7

Suggested Approach 2 01 Know the candidate (worked with or absolute evidence they are high quality) 02 Not worked with them but believe they are high quality (i. e. qualified by recruiters and not the business) 03 Just don't know yet! 04 Good but we have better 05 Stored but doesn’t fit – useful knowledge 8

Talent Pooling Exercise 2 Which approach would work for your organisation? Which areas would you like to pilot? How do you plan to approach this? 9

Candidate Engagement Gold Silver • Personal contact • Jobs • Monthly relevant contact • Events/open days/ networking • Interesting, useful knowledge • Company insight • Coaching calls • Ask what interaction they would like • Standardise where possible Bronze • Stalk • Be visible! 10

Resource/Support You don’t have to do this alone! The HOW is so important – it may be better to outsource Try the following providers: • Talent Insight Group • Armstrong Craven • The Executive researchers association • Talent Intelligence • Write Research • E-sift • Easyweb 11

Measurement Source of hire (talent pool/pipeline but also original source) Time and cost per hire Vacancy open in real time Retention Quality (appraisal ratings) Engagement 12

Actions Within your team agree on an action plan for your approach to Talent Pooling this year 13