How to Maximize the Potential of Your Talent Pool

According to some research, it can cost an average of $4,700 to hire an employee. 

However, you can help reduce that cost by having a good talent pool to pull candidates from. But how do go about creating a talent pool?

Keep reading to discover some talent pool solutions that will ensure you only hire the best talent. 

Build a Landing Page

If you want to attract talented candidates to your page, you’ll need a landing page to direct them to. Even if you’re not hiring right now, you want to send interested candidates to a place where they can stay updated if you have any future openings. 

For example, you can have them submit an email to your newsletter and then send out any open positions that you have in the future. This way, it’ll be easy to advertise when you have a new role, and you won’t have to spend as much time advertising the new job position. 

Build a Referral Program

Building a referral program is another talent pooling strategy. When this happens, you can get references for qualified candidates from your existing employees. 

Referral programs can help you hire faster while also reducing the cost of each hire. Because your employees will want to work with qualified candidates, they will also submit quality references. 

In fact, hiring referred employees also have higher retention rates than employees who didn’t have a referral. That’s because they already know a little bit about your culture and already have a connection, which can make the onboarding process much easier. 

Even if you don’t hire someone who is referred, you can add them to your talent pool as well for any future positions. 

Source on Social Media

LinkedIn is a powerful networking tool, but you can also source quality candidates on popular platforms like Twitter or TikTok. Digital recruiting needs to be a part of your strategy so that you can find people who can put in your talent pool. 

When you set up your social media account, you should also incorporate content showing why your business is a good place to work. This will help build your employer brand and will convince candidates to reach out to you and learn more about being able to work at your company. 

Advertise the Employer Brand

Speaking of the employer brand, you should use that to add talented candidates to your pool. The most talented candidates will want to work for a company that has a good culture and atmosphere to work in. 

You can advertise your employer brand by ensuring you have good reviews on sites like GlassDoor, but you can also publish employee reviews on social media. 

Another good way to showcase your good employer brand is by offering a quality candidate experience as well.

Focus on Culture

If you don’t have a good employer brand to promote, you need to work on creating a good company culture that employees want to work in. The candidates will want to apply for the job but also for the company culture. 

Many businesses want to ensure that the candidates can fit in with the company culture because then they’ll be more likely to stay at the company. The key to hiring good employees is remembering that talented employees can always try and learn new skills, but their personality and behavior may not always change.

This is why companies should focus on hiring candidates that fit in with their culture. Look for candidates who have different values, a similar worldview, or have the emotional intelligence to get along with their partners. 

Track the Data

Another way to improve your hires is to track the data. It can be hard to know which metrics to track, but you should keep track of metrics through every step of your recruiting process. 

This will include the quality and size of the talent pool. You’ll also want to measure how long it takes to hire qualified candidates and how much it costs. 

If you find some good talent, keep track of where you found them. You may get more of an idea of where your top talent is coming from, and then you can put more effort and resources into those sources. 

Do Background Checks

Before you hire any of your employees, make sure that you run background checks. This will ensure that your talent pool is filled with quality candidates so that you can hire the best people. 

You can customize how light or in-depth you want to search for each candidate. For example, if you wanted to do a light check, you could search on LinkedIn and just reference their credentials and qualifications.

If you wanted to go more in-depth, you could do a criminal background check and pull more important information to confirm the candidate is who they say they are. If you don’t have the resources to do background checks, then you can outsource this process to a talent acquisition company. 

Discover More About How to Maximize the Potential of Your Talent Pool

These are only a few strategies to help you maximize the potential of your talent pool, but there are many more ways you can hire talented candidates.

If you don’t have the time to manage your talent pool, there are many skilled companies that can help manage it for you.

If you’re interested in learning more about our talent acquisition solutions, check out our website!