5 Ways to Squeeze More Value from Your Talent Pool with Technology

October 19, 2018    |    3 minutes read

Modern Hire

Whether you’re a recruiter stretching for Q4 goals, or a star slugger going to post-season playoffs, this is no time for a slump. You need fresh approaches to the same steady challenge: engaging and hiring better candidates in the midst of a talent drought. Try these technology-driven strategies to get more value from your talent pool.

Why focus on your talent pool?

There are at least two smart reasons. First, you may be missing high-value candidates if you aren’t reaching deep enough into your talent pool, or expanding them with new strategies. Second, being closer to your candidate pool can give you an edge with candidates. Candidates who’ve been turned down but really would like to work for your organization are really pleased when you call to talk about a possible second opportunity. Putting more effort into your talent pool is a proactive way to be candidate-centric and build better TA performance over the long term.

Keep silver medalists at your fingertips.

Silver medalists are candidates who are second- or third-runner up for an open position. We’ve talked before about the advantages of cultivating this talent pool and keeping it well-organized so you can be proactive in pursuing these candidates for other positions. This strategy cuts down on recruiter time and effort, and can also speed up the hiring process for your candidate, giving you an edge.

If you’re using a video interviewing platform, make a habit of rating and tagging all on-demand interviews, voice or video. That will make it fast and simple to search, filter and find candidates within your talent pool who could be well-suited for a different position.

Look more closely at your talent pool of current employees.

With skills and talent in high demand, up-skilling and re-skilling current employees is a viable option for some organizations. In fact, 85% of HR leaders plan to increase their focus on developing and promoting from within their internal talent pool. When current employees raise their hand for a new position or transfer, ask them to complete an on-demand video interview.

You can easily share them across multiple departments and with hiring managers who have open positions. With on-demand and live interviews too, you can facilitate internal mobility which fills open positions faster and helps to maintain employee satisfaction, especially with younger employees who prioritize learning opportunities.

Be open to remote work.

Remote work is on the rise. According to one report, 50% of the U.S. workforce will be working remotely by 2020. This includes employees who split their time between working at home and in a nearby office, and employees who live and work in a different city or state. Here’s how it can open the door to new talent pools:

  • Your candidate reach can expand to new geographies.
  • You can attract candidates who may not have considered your organization otherwise because they prefer to work remotely. Software developers are a great example. They’re currently in very high demand, and 53% say working remotely is a priority.

Video interviewing platforms that integrate live interviews, on-demand interviews, automated scheduling and a combined interview- assessment experience enable you to effectively engage, interview and hire candidates from these talent pools.

Reduce unconscious bias.

Unconscious bias in your hiring process could be preventing candidates who should be in your talent pool from entering your pipeline. Nearly half (42%) of TA professionals and hiring managers who participated in LinkedIn’s Global Recruiting Trends 2018 research indicated interviewer bias is a disadvantage of traditional interviews.

New technologies offer unbiased candidate review to extend candidate reach, reduce bias and mitigate risk. This type of tech can help support diversity in your talent pool, and provide a better candidate experience. The use of video interviewing platforms can also help reduce the risk of discrimination by ensuring your process is consistent, transparent and recorded.

Reach deeper into your current talent pool.

For organizations that hire hundreds or thousands of candidates for seasonal positions, call centers or other high-volume scenarios, reaching and engaging the entire talent pool can be an enormous challenge. In some cases, 40% to 50% of candidates may be left untouched due to time and volume constraints.

TA teams are using on-demand text interviews to solve this issue. On-demand text enables recruiters to reach a higher percentage of the talent pool with basic, preliminary qualification questions. For instance, when the position requires candidates to work holidays or be able to routinely lift 30 pounds, recruiters can identify candidates who meet those requirements and advance them to the next step with an automated workflow. Candidates can answer in a few minutes or less with their smartphones, and know instantly whether they should keep looking for other opportunities. With this technology, you can efficiently provide a modern candidate experience to a higher number of candidates.

Like to discover more ways technology can help you make the most of your talent pool? Read our whitepaper, The Truth About What’s Hurting Your Candidate Experience: 4 ways a single solution can drive better hiring results.