TALENT POOL MARKETING
For all businesses seeking to expand, the most crucial resource is people. Therefore, it is not surprising that companies all wish to attract the best talent to fit their business needs. Whilst they rightly focus on reducing recruitment costs, the short-term focus often overlooks the long-term wastage.
We have developed a sustainable solution that will minimize talent wastage, hiring costs and reduce the speed of hiring while offering an increase in your brand image and presence. This drives candidate engagement and allows for better project management when hiring.
Bradford Jacobs works extensively with international businesses undertaking global expansion, which has enabled us to identify the Talent Acquisition challenges faced when organisations seek to balance costs versus quality and quantity:
- Recruitment Agencies use the ‘commercial gain with reduced fees’ model, often leading to a reduced service provision as the client usually seeks to drive down the acquisition costs.
- External Recruitment Partners bring expertise in finding talents but do not always communicate your company’s culture and values as strongly as those within the business, which can impact talent attrition.
- Internal Talent Acquisition teams communicate about your business’ culture and values but are limited by the large volume of talents they manage.
- Talent Wastage is commonplace, with 90% of talent wasted in a traditional search process.
- Cost versus delivery becomes the primary balancing act, with the primordial asset of the business being at risk: people.
OUR TALENT POOL MARKETING SOLUTION
Having worked with businesses trying to find the balance between expenditure and failure to deliver, we sought to offer executives a sustainable solution. Here are the benefits of opting for Talent Pool Marketing:
- Reduction in reliance on external recruitment partners.
- Increase in Talent engagement and retention thanks to direct communication of your business culture & values.
- Reduction in Talent Wastage with 100% engagement.
- Increase in the internal talent acquisition teams’ efficiency, enabling more with less.
- Reduction in hiring cost by 60% or greater whilst maintaining quality & volume.
- Tipping the balance back to the business and safeguarding your biggest asset, your people.
HOW DOES THE TALENT POOL MARKETING PROCESS WORK?
Here is how we can help you optimize your talent acquisition strategy while reducing its costs thanks to our Talent Pool Marketing Solution:
We actively market your Talent requirements through our sourcing tools (via our internal system with the talent database, via our social media channels such as LinkedIn, and through job boards), reaching a dedicated audience thanks to specific search criteria.
Every interesting top talent we encounter is added to your pool, even though they do not match your current vacancy requirement. They could still be a good fit for a future role and may be worth saving for later!
The process does not end once you have found the right talent. We continuously align with your needs and keep expanding and nurturing your talent pool, so the search is facilitated when you are ready for your subsequent acquisition.
Nurturing your talent pool allows prospective talents to remain engaged and be more easily converted into potential applicants.
To keep your prospective talents engaged, we need to communicate with them regularly. We can send them updates on your new vacancies, products, and business or invite them to events you may be organising. Your company is included in a monthly talent mailer that reaches the entire talent pool.
But, the key is personalising the messages we send out, as not all your prospective talents are the same. Some can be students and graduates; some can be current or former company employees.
It is essential to create segmented communication campaigns so each particular group of talent can receive the best content that matches his skills or job requirements.
Talent Pool Marketing differs from standard recruitment practice because costs are based on the skills profile requirement instead of on the number of vacancies.
When the same skills are required for multiple vacancies, a business can significantly reduce recruitment costs.
Each activity project is cost based on the business’s individual requirements as these determine the level of expense.