CBI Way: The Talent Pipeline Situation

By Outside-In® Team Member Alex Patton

When planning the direction of your company, one of the most important aspects must be the talent supporting the business. Proactively thinking about the talent that will help drive your business can be a difference-making strategy to be a step ahead of the competition. In turn, building long-term relationships with quality candidates for future hiring, or talent pipelining, can be a critical investment as the job market continues to improve, with another 126,000 new jobs added in March, according to the Bureau of Labor Statistics.

Previously, we’ve talked about the challenge with the growing number of passive candidates – 75% of all candidates, according to LinkedIn’s 2015 Global Recruitment Trends survey, which increases the difficulty of quickly identifying and hiring top talent. Constructing a strong pipeline of candidates in specific industries is a great way to be ahead of the game while also increasing the potential for quality referrals, by spreading the word of hiring inside your business. Instead of reacting to a new requisition by sourcing, screening, and interviewing; having a pipeline of talent knocks out at least the first step of the process, also reducing the time-to-fill.

Additionally, maintaining the passive pipeline by keeping the talent engaged and aware of company openings and happenings can help build your brand, keeping your business on the top of candidate’s minds if their situation should change. While it may be time consuming initially, building your pipelines will become a regular strategy to meet your talent acquisition needs and pay dividends as a long-term strategy.

Stay tuned for the next CBI Way Blog to learn ways to best build your talent pipeline in the new age of social recruiting.

Image courtesy of freedigitalphotos.net.