As many companies have implemented a hiring freeze, it is important in this time to understand how you can keep moving forward and prepare for the unfreeze. Rather than dropping the ball now as the weather improves and pick it up later in the year, you could use this time productively to carry out the ground work prior to interviews. This is a great time to take stock and decide what areas you want to grow, the specific roles that you want filled and then going and building your Talent Pipeline.
What is a Talent Pipeline?
A Talent Pipeline is talent that you have assessed and engaged for suitability. They have the desired skills and experience for the specific role you are looking for and they have expressed an interest in joining your organisation.
What are the Benefits of Talent Pipelining?
1. Saves you Time
Using the current situation as an example; A company knows they have a need for a Digital Marketing Manager but have currently frozen there recruitment activities. With no talent pipeline in place, once the freeze is lifted the hiring managers must start a search from scratch. This involves finding suitable candidates, vetting and engaging with them all before bringing them forward for interview. This process can take several weeks, or even months.
If the organisation had a talent pipeline in place, then they would’ve had a strong selection of engaged candidates that they could call straight to interview relatively quick. This makes the hiring process much more efficient and saves you time.
2. Replacement Ready
Senior members of the team can be tough to replace. If for example your Marketing Director decides to make a career move, it can take some time to source, engage, vet, interview and select a potential replacement for a senior role. A strong talent pipeline ensures that you will be prepared.
3. Business Continuity
Similarly, your organisation will not have it’s growth slowed down or stunted by lengthy recruitment processes. Some skilled and technical roles will have a smaller supply of candidates and this will ensure that you are prepared so as to avoid any skill gaps in your organisation.
4. Improved Decisions
Rather than rushing to find candidates when the need arises, you will already have a strong pipeline at your disposal and your time can be spent focusing on identifying the most suitable candidates for the role.
5. Saves you Money
Ultimately, this will make the process much more efficient, saving time and improving decision making and thus saving you and your organisation money.
