The workforce and talent needs in organizations are changing. Technology, digitization and the widening skills gap have had a great impact on talent management. This has affected how employers and hiring managers like you manage a predictable talent pipeline. Despite the fact that the demand for jobs is higher than the number of jobs available, finding good talent is still a hurdle.
Why You Need a Talent Supply Chain
Think of it this way: Every time you post a job advert on BrighterMonday, you get applications from candidates with varying experience levels, skills and qualifications. Some applicants dazzle you even though you have no where to place them at the moment. Some of these exceptional candidates even make it to your interview room and the only reason you don’t hire them is because you can’t fit them anywhere at the moment. These are candidates that should be in your talent pool with ease of reach when a new position opens in your company.It saves you a lot of time and recruitment pains because you will only need to engage them to find out if they will be available for a meeting, as opposed to starting the sourcing process all over again.
The idea here is to mobilize and engage talent on an as-needed basis while shelving potential candidates in order to minimize talent leakage.
Here are practical principles of maintaining a working, valuable talent pipeline;
Establish a Resource Strategy
Establishing a resource strategy involves understanding your company, it’s talent needs, frequency in hiring and also understanding whether to buy, build or borrow talent when it’s needed. This strategy helps you identify existing gaps succession planning long before the need for talent arises. It means that as a hiring manager or employer, you have the option of developing talent internally, hiring from external talent pools or engaging contingent workers.
The BrighterMonday employer Application Tracking System is a free interface that allows you to post jobs on BrighterMonday, track and manage applications. You can use filters to view the candidates on BrighterMonday’s vast database that suit your role. You can also create talent pools for different categories that you can visit later in case a befitting role arises.
Shape and Manage Your Company’s Demand
How much talent do you need? Do you have a workforce planning strategy in place? What is your succession plan? Do you have an idea of where the business is going? As a talent manager, you need to be aware of the where the company wishes to be in five years. How does the talent landscape look with all growth strategies considered? Take into account the current trends in your company like attrition levels and talent need frequency, departmental growth, and your recruitment process. If your company hires new talent every month or once every quarter, you might want to have a renowned recruitment company on speed dial. Better still, you can take advantage of packages that suit your situation. For instance, the BrighterMonday subscription services offer an all-year subscription packages depending on your needs. This way, our team works to provide talent on demand on an agreed frequency. Contact us for this arrangement.
Align People, Technology and People
Talent management and succession planning are not a one-department role. You will need to pull together line managers, your tech and operations teams to offer support the talent supply process. They should offer support in prioritizing core skills pipeline, developing and promoting a set of talent attributes across the company and help in measuring and optimizing talent.
Use of Analytics to Measure Business Impact
Measuring impact of any process helps determine whether its on course or more action is needed. The talent supply chain requires continuous analytics and the use of business data to determined strategy and decisions. This requires automation of workforce planning, succession planning, talent management and reporting mechanisms.
Call us to help you create the robust talent supply pipeline today.