What is a Talent Pipeline and Does Your Company Need It?

How Do You Create a Talent Pipeline?

To create a talent pipeline, first, identify your ideal candidate persona, then establish an internal recruitment system to provide career development opportunities. Re-engage rejected applicants strategically by offering personalized feedback and maintaining connections.

Many companies struggle to hire the right people quickly. If you’re one of these companies, setting up a talent pipeline is one smart way to make the recruitment process smoother.

A talent pipeline is a pool of pre-approved candidates you can refer to during recruitment season. Instead of starting the hiring process from scratch each time, a talent pipeline could help you speed up the sourcing step because you already have a pool of pre-qualified individuals. 

If you’ve struggled with recruitment and hiring lately, it may be time to consider building a talent pipeline. Read on to learn what it is, why it’s useful, and how your company can use this approach to access top talent. 

What is a Talent Pipeline? 

A talent pipeline is a proactive approach to talent acquisition that involves building relationships with candidates even when you’re not actively hiring. Having a talent pipeline gives you easy access to quality job applicants once you restart your recruitment process.

You may think a talent pipeline is interchangeable with the term “talent pool”. While similar to some extent, a talent pool is a broader group of potential candidates interested in joining your company but may not be ready or suitable for a specific role. They may have applied for previous job openings, attended career fairs, or engaged with your brand through social media.

Meanwhile, a talent pipeline comprises candidates you have already assessed or interviewed in previous recruitment cycles. Your talent pipeline can also include internal applicants, should you decide to leverage internal recruitment.

3 Benefits of Having a Talent Pipeline

Building a talent pipeline has many advantages over traditional hiring approaches. It can help your company stay ahead in the competitive talent acquisition landscape.

1. Faster hiring process

Having a pool of pre-qualified candidates means you don’t have to start from scratch for each job opening. You can quickly choose potential employees from your talent pipeline, reducing your time to hire and filling key positions promptly.

2. Improved candidate experience

Continuously engaging qualified candidates shows you value them and their potential. This positive interaction contributes to a favorable perception of your company, even if you’re not interviewing them yet. As a result, you can improve your employer branding and enhance their overall candidate experience.

3. Better job candidates

A well-maintained talent pipeline allows qualified candidates to better know your company, culture, and specific job requirements. When a position becomes available, you can identify candidates with a deeper understanding and alignment with your company’s values. It then increases the likelihood of securing and retaining top-notch individuals for key roles, before your competition does.

How to Build a Talent Pipeline

For a steady supply of qualified candidates, learn how to build a talent pipeline with these simple tips.

1. Identify your candidate persona

A candidate persona is a semi-fictional representation of your ideal candidate. Having one can help you clearly understand the specific talents and attributes needed for a particular role.

To create a candidate persona, interview successful employees, executives, and current candidates. Ask about their goals, motivations, and interests to form a comprehensive picture of your perfect hire. You can also ask hiring managers and recruiters what they usually look for in candidates and what success looks like to them.

When hiring for a project manager position, for example, your ideal candidate may be highly analytical and also have strong emotional intelligence. Microsoft Excel skills may also be a “must-have”, as the position will require data analytics and presenting to upper management.

2. Establish an internal recruitment system

Some employees leave their jobs because their employer doesn’t provide career development opportunities. This is where internal recruitment can help you stand out. It allows you to save time, effort, and money. It also gives your current employees the chance for a career change without switching employers.

This approach fosters a sense of loyalty and retains valuable talent, preserving the expertise and experience of your best personnel. Studies show that 45% of employees would stay at a company longer if it offered learning and development opportunities. Plus, companies with comprehensive training programs see a 24% increase in their profit margins.

3. Re-engage rejected applicants

Why source new candidates when you can re-engage those you’ve already assessed in the past? Reconsidering rejected applicants is a great way to quickly build your talent pipeline. 

For one, you already know their skills and competencies. Since they have previously expressed interest in your company, you might feel confident about their potential cultural fit.

Plus, re-engaging them means filling your talent pipeline sooner than you want. If you received 200 applications in the past but only hired one, you have 199 candidates left on your roster.

When initiating re-engagement, you could send personalized and constructive feedback about their previous application to emphasize your continued interest. Invite them to join your talent network or sign up for job alerts informing them about relevant opportunities. In this way you can consider them for future positions.

4. Construct rejections strategically

Rejecting a candidate is often challenging—especially if they’re qualified—but you can turn it into a hopeful experience with a well-constructed message.

First, provide constructive feedback about areas for improvement. You can emphasize their strengths and offer advice on addressing their weaknesses. Let them know you’ll keep them in your database should a position open. Better yet, you can offer to connect with them on social media so you can stay in touch.

Maintain Your Connections

Building a robust talent pipeline can work wonders for your hiring efforts. It can reduce your cost-per-hire and time to hire. Plus, it can ensure a steady stream of skilled professionals to drive your company’s success. Adopting a relationship-centric recruitment approach in an increasingly competitive talent market positions your company for sustained growth.

EmployTest offers several pre-employment assessment tests to help you spot qualified candidates for your talent pipeline. The more data-driven you are with your talent pipeline development process, the easier it will be to identify the perfect hires.

Take a free sample test today to see how we help improve your recruitment process.