5 Strategies to Build an Effective Talent Pool
Building a strategy that prioritizes talent management and invests time and effort into building a talent pool is a critical necessity for your organization’s success. There’s just no way to avoid it. A solid talent pool is directly related to how innovative, productive and efficient your organization is. Hence, you should be seriously considering being proactive regarding talent management which would include building a strong robust pool from which you can extract strong candidates to fill business critical positions. Though all that is easier said than done.
Building a strong talent pool requires accurate forecasting, an enriched culture and employer brand and strong acquisition abilities and practices. Only with these would you be able to maintain a talent pool that’s filled with highly competent, capable and qualified candidates.
So how do talent managers accomplish this based on their current and future needs? Here are some effective strategies that can help you get started.
1. Create a Talent Mindset
The first step in building a strong talent pool is to inculcate, realize and accept that better talent at every level and across every function within an organization is a necessity for it to be innovative, competitive and successful. There’s simply no room or cushion for mediocrity. All doubts around this notion should be dispelled and generally all talent managers should be subscribing to this belief. Recognize that better talent pushes the boundaries of perform to new heights which fuels innovation and productivity.
2. Prepare for the Future
Consider the pace at which skills and jobs are evolving it’s no surprise that hiring for today won’t be of any use to your organization. Rather than thinking of what your present needs are and how your talent pool could help you address them, look towards the future. Basically you’ll be asking yourself “where’s the company headed?” and “what will the talent requirements be then?” Developing a talent pool with your future needs in mind is important to ensure you’re not going to end up hiring talent that’ll soon become redundant.
3. Look Within As Well
Another positive that you can extract from the talent mindset that you’ve created is driving high performance from your present talent. By building teams of high achievers who’re motivated and committed to excellence you’re essentially creating a funnel of high performing individuals (HiPos) who you can identify for future roles and growth. Retention will the key here (keep them engaged) and if you’re successful you’ll be able to nurture their advancement to more challenging roles.
4. Leverage the Power of Social Media
Building a strong employer brand and developing a positive image is key to attract the right talent to your organization. The social media world of LinkedIn, Facebook, Twitter, Google+ and others like them are exactly the avenues you need to promote your employer brand. Flaunt your culture, boast about your talented employees and let the world see how amazing it is to be a part of your team. You’ll be attracting many highly talented individuals. But that’s just half the solution. In order to develop your talent pool leveraging social media you must also engage with them and keep them interested.
5. Use the Information You Have
Assessing your organization’s future needs of talent is much more strategic than forecasting headcount. You’ll need to consider many variables, directions, growths and contingencies to truly understand your talent needs for the future. To ensure your talent strategies are comprehensive and well thought out, use the information and data you’ve gathered from the past to better analyze your future needs. Using real-time analytic capabilities and talent management systems you could effectively build your talent pool.
With an effective talent management plan and a robust talent pool you can equip your organization with the ability and skills required to be competitive and innovative. Do share what strategies you employ to build a strong talent pool. I’d love to hear from you.
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