They say that in war, defense is the best form of offense. This principle also applies to hiring. A well-structured talent pipeline is your best defense.
Anyone who has spent time in recruitment knows the frustration of scrambling for the right hire when a key team member departs or an opening emerges. A talent pipeline helps alleviate that stress by providing a ready shortlist of qualified candidates before you even need them.
According to TechTarget, a global human resources partner, a talent pipeline is a pool of candidates ready to fill a position. These individuals can be internal employees prepared for advancement or external candidates who have been partially or fully prequalified for an opening.
A well-structured talent pipeline offers numerous advantages. It reduces time-to-hire, improves the quality of new hires, and leads to significant cost savings. In fact, a report by WilsonHCG found that 67% of organizations are actively building talent pipelines because they recognize how effectively this approach facilitates faster and better hires.
In this article, we’ll break down the key steps to building a talent pipeline that keeps your hiring process stress-free:
Identify Your Hiring Needs
What exactly are you hiring for?
Before you start building a talent pipeline, you need to know what roles you’re actually hiring for.
Start by looking at your company’s current situation. Are you expanding and in need of new team members? Do you have key employees who might leave soon due to promotions, retirements, or career changes?
A good way to do this is by working closely with department heads or team leads. They’ll have insights into workload, skill gaps and upcoming projects that might require extra hands.
Once you have a clear picture, you can start looking for candidates who match these needs, even before a position officially opens. This way, when the time comes, you already have a pool of potential hires ready to go.
Create a Strong Employer Brand
Before you even start sourcing candidates, you need to make sure people want to work for you. Candidates are paying attention to things like company culture, leadership, and career growth opportunities and if your workplace has a reputation for high turnover or unhappy employees, you’ll struggle to attract top talent.
When you have a strong employer brand, it helps candidates understand the company’s vision and what it’s like to work for you. It describes an employer’s reputation as a place to work and their employee value proposition, as opposed to the more general corporate brand reputation and value proposition to customers. Having a clear company mission, showcasing employee success stories and being transparent about what it’s like to work for you. People talk, especially on sites like Glassdoor and LinkedIn. Give them something good to say.
Companies like Microsoft and Google understand the importance of great employer branding, which is why they consistently top the list of great companies to work for. Now that sites like Glassdoor (a platform that features company reviews from employees’ perspectives) exist, it is more imperative than ever to improve your company’s branding.
More importantly, a strong employer brand acts as a magnet for great talent. Positive reviews attract top candidates, creating a win-win situation for both employers and employees.
Nurture Your Internal Team
Before sending out a job advertisement for a new role, consider looking at your existing employees.
Last year, Nike appointed Elliot Hill who started as an intern in the late ’80s as its CEO. This was possible because Nike recognized his potential and invested in nurturing it.
This example highlights the importance of developing internal talent. Your first and best pipeline consists of the employees already within your company. Instead of sourcing candidates externally, give your employees opportunities to grow. If they need additional skills, implement a learning and development program to prepare them for higher roles.
Leverage Apprenticeships and Internships
Apprenticeships and internships are excellent starting points when building a talent pipeline. According to the U.S. Department of Labor, 92% of apprentices remain employed after completing their programs.
Graduate training programs and internships provide a firsthand look at emerging talent, allowing you to evaluate candidates in real work situations. These programs serve as trial periods where you can assess technical skills, cultural fit and adaptability.
They also create a steady flow of talent tailored specifically to your company, ensuring a direct pipeline for future full-time hires.
Encourage Employee Referrals
One of the most effective ways to build a strong talent pipeline is through an employee referral program. When employees refer candidates from their network, companies gain access to pre-vetted talent who are more likely to be a good cultural and technical fit.
Some of the best hires come through word-of-mouth recommendations. If your company needs additional team members, your employees can quickly share opportunities within their professional network, ensuring the talent pipeline remains full of qualified candidates.
To maximize the benefits of referrals, keep the process simple and rewarding. Offer incentives, provide regular updates and recognize employees who contribute to strengthening the talent pipeline.
Wrapping Up
Building a great talent pipeline requires effort, but the long-term benefits are worth it. With the right approach, you’ll always have access to skilled professionals, making hiring easier and more efficient for your company.
