Benefits of Talent Pipeline
Talent Pipeline is a one step ahead process of recruiting candidate you do for your clients. You have to accumulate the database of people who your client may want to hire in the future, either as replacements for critical positions that currently exist or for new roles that may open up within the business.
Building a pipeline involves proactively developing long-term relationships with potential candidates who align with your company’s talent needs, both now and in the future.
Pipelining not only saves you and your team from reinventing the wheel for every role, it reduces time to hire and leads to better quality candidates. It allows the recruiter to be a consulting business partner of a company.
Here are some benefits of Talent Pipeline :-
1. Reduce Time to Hire –
A proactive talent pipeline allows you to be a step ahead of your competition in the hiring process, while also saving time in actively sourcing and narrowing down the ideal candidate profile. This gives recruiters valuable time to develop a strategic approach to attract and hire key candidates. You will already know the talent and what is necessary for them to consider making a career move.
Additionally, a proactive approach to creating talent pipelines allows the recruiter to better influence strategic hiring decisions for your business by educating the hiring managers on the talent landscape. Standard sourcing practices are so rushed that they overlook multiple top prospects.
2. Strong Employer Brand
It also helps to build a Strong Employer Brand in the eyes of the potential candidates. This is especially a problem when the firm has a weak employer brand image or if the job is in a less desirable location. Under the pipeline model, recruiters have much more time to sell and to overcome these limitations.
3. Increased Offer Acceptance.
Building an Interpersonal relationship with the potential candidates, they will have a higher probability of wanting to be a part of our Client. As those are in our pipeline have had more time to learn about the company, they will be more convinced of the advantages of joining.
In addition, because of the continuous engagement, the firm is more likely to capture and understand the unique needs of the potential targets and there reasons to move to their company. As a result, their offers will be sculpted to meet those unique needs. This will dramatically increase the offer acceptance rates from those who were in the pipeline.
4. Benefit to Candiadtes
For candidates, it is always an advantage to have a good relationship with recruiters. As this are the people who will give them the pool of opportunities which are available in the market and which are those will be lucrative for him. Also often times, these individuals that are top performers and those passionate about their work, don’t have time to look for new opportunities.
5.Lesser Dropouts of Candidates.
The primary goal of the talent inventory process is to build commitment to the firm. That commitment increases when a prospect is provided with more information regarding the company details, more about the dynamics of the roles and also by answering all the questions and keep on engaging them. The trust relationship is built with an increased level of commitment. Due to this fewer dropouts happen and it means better quality hires less wasted time, and lower hiring costs.
For an individual the Recruiter becomes a career advisor or an Industry inside who gives more detailed information about the client and also overall hiring metrics of the industry. Having an open conversation with a recruiter also gives the candidate a better view of the company and ensures they are taking an intelligent risk when considering their future. Last but not least, thanks to talent pipelining the candidate knows who to reach out to when they are ready to explore opportunities.
To be successful at pipelining, the recruiter needs to do thorough research into the company’s business and the industry. You must understand your company’s long term plans, current talent in the organization and potential talent gaps. The recruiter must also quickly come up to speed on the competitive landscape, understand who the key players are, and follow the trends in your market. Having this strong industry knowledge will allow you to engage in more meaningful conversations with the business to help make smart hiring decisions and also gain respect and trust from the talent in the industry.
