Narrowing the Talent Pool as a Talent Puddle


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To place a further emphasis on targeted use of the a broad talent pool, an emerging theme is the Talent Puddle. Why? Because a pool is a very deep and often unfathomable body of water -and many recruiters are too pressed for time to search beneath the surface to get the best candidates who are lurking in the deeper water. So, what they want is a Talent Puddle - a very shallow pool of candidates that can be easily found and easily captured.

Presented at PharamTalent 2.0, London 24 Feb 2010

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Narrowing the Talent Pool as a Talent Puddle

  1. 1. Alan Whitford Founder Recruitment Community Europe LLP +44 797 186 4620
  2. 2. Why Me? • Over 25 years experience in recruitment and in the start-up and expansion of high technology businesses in Europe • Provide strategic and practical insights to the automation and web- enablement of Human Resource and Recruitment Process activities throughout Europe • Clients include Times 500 companies and software and services vendors in the Human Resources and e-commerce arenas • Co-Founder of Recruitment Community Europe LLP • Founding board member of HR-XML Consortium European Chapter • Founding member of ORMC (UK on-line recruitment marketing council) • Published in a number of on-line and off-line media covering technical and strategic HR and Recruitment issues • Author: Personnel Today - Guide to Online Recruitment © Recruitment Community Europe 2009
  3. 3. What Is Our Purpose In Life? “The ability to find and hire the right people can make or break your business. It is as plain as that. No matter where you are in the life cycle of your business, bringing in great talent should always be a top priority. It is also the hardest objective to meet.” Michael Dell, Dell Inc. © Recruitment Community Europe 2009
  4. 4. Workforce Inventory Management • Introduction of longer term (5 year horizon) lifecycle thinking into recruiting • Building and maintaining talent pools which can be drawn on over time • ‘Just in Time’ delivery of candidates in advance of requirement, not 60 days after • Data mining techniques to evaluate availability and suitability of ‘old candidates’ • Integration into HRIS systems - employee records, training needs © Recruitment Community Europe 2009
  5. 5. Talent Lake © Recruitment Community Europe 2009
  6. 6. What Is A Talent Pool?
  7. 7. Talent Pool • Talent pools are groups of people with whom an employer maintains a direct individual relationship for the purpose of future employment – both permanent and temporary - while not currently employing them • Internal definition of a Talent Pool may be indistinguishable from CV Database" or "Candidate Relationship Management" tools • External Talent Pool is about maintaining a relationship with talented people outside your organisation, so that when needed there is a pool of skilled people willing to work with or for you • CIPD: Talent pool tends to be the name given to a collective of talented employees once they’ve joined the organisation © Recruitment Community Europe 2009
  8. 8. Busy Talent Pool © Recruitment Community Europe 2009
  9. 9. Candidate Perception of a Talent Pool © Recruitment Community Europe 2009
  10. 10. Talent Collection Why collect talent? • Repetitive candidate search is time-consuming & costly • Saves and builds upon the value of your candidate contacts • Gives you a readily available talent network to tap and use for referrals © Recruitment Community Europe 2009
  11. 11. Benefits of the Talent Pool • Save time and money while improving candidate relationship management • Move the company towards ‘just in time’ hiring practices • Maximise the candidate resources already developed • People development and career progression for internal employees • Success factors for the business – without employees to do critical jobs, a company cannot move forward © Recruitment Community Europe 2009
  12. 12. Examples of Talent Pools • Alumni (Boomerang Hires) • Recently retired employees • Contractors • Functional specialists and experts • Senior executives and top talent • Geographically-defined groups - e.g., by regions or countries • Demographically-defined groups – e.g., people in different life/career phases such as retirees, students and parents taking leave • Internal candidate databases compiled over time • External/commercially available candidate databases • Internal candidates – specifically for internal mobility © Recruitment Community Europe 2009
  13. 13. Where Do Our Candidates Come From?
  14. 14. Sources for Hires USA Source: CareerXRoads, Sources of Hire 2009 © Recruitment Community Europe 2009
  15. 15. Sources for External Hires USA Source: CareerXRoads, Sources of Hire 2009 © Recruitment Community Europe 2009
  16. 16. Sources of Hire Australia Source: Source of Talent ‘09, © Recruitment Community Europe 2009
  17. 17. Sources to Find Candidates UK Source: Jobsite Online Recruitment Quarterly Tracker © Recruitment Community Europe 2009
  18. 18. Hiring Candidates UK Q7. Now, looking at 2009, approximately what percentage of your hires will you source through the following services? Source: LinkedIn 2009 Trends in Recruiting & Recruiting Smarter © Recruitment Community Europe 2009
  19. 19. Talent Pool, No. 1 Objective Have done/ plan to do Build and nurture strong talent pool 49% Prioritize positions to focus on first 41 Train existing team members 38 Prepare hiring managers 37 Learn to use social networking/social media 36 more effectively Invest in employment brand 34 Improve referral program 34 Q27. What have you done or plan on doing to be able to ramp up hiring and be ready for the recovery? Source: LinkedIn 2009 Trends in Recruiting & Recruiting Smarter © Recruitment Community Europe 2009
  20. 20. What is Direct Sourcing? Source: CareerXRoads, Sources of Hire 2009 © Recruitment Community Europe 2009
  21. 21. Why Don’t We Use the Pool? • 67% of companies do not have a Talent Pool • 38% may develop one • Of those with a TP, only 22% communicate at all with the candidates in the pool • Only 11% communicate on a monthly basis Source: Talent Pen Survey, 2006 © Recruitment Community Europe 2009
  22. 22. You Have Already Done the Hard Work Companies of all shapes and sizes should be spending more time thinking about the candidates they have already attracted and who have expressed interest in a career at that company and less time (and money) being devoted to the pursuit of the 75% of candidates (using the term loosely) who may not even be looking for a job or career change © Recruitment Community Europe 2009
  23. 23. The Talent Puddle
  24. 24. The Talent Puddle: Narrowing the Talent Pool • To place a further emphasis on targeted use of the broader talent pool • Many recruiters are too pressed for time to search beneath the surface to get the best candidates who are lurking in the deeper water • Use a very shallow pool of candidates that can be easily found and easily captured © Recruitment Community Europe 2009
  25. 25. Shallow Puddle © Recruitment Community Europe 2009
  26. 26. Who Is In The Puddle? • Puddles are much more shallow and scarce than pools so there is less room to hang out • Not everyone can get into the puddle. Getting in takes effort because there is competition to get there • Talented high performers are rare. They are the top 20% of their field and will be more easily found if you look in the talent puddle not the talent pool • They will stand out amongst the throngs of suspects, prospects and candidates recruiters run into every day because the are in the puddle or at the part of the pool where the water is shallow © Recruitment Community Europe 2009
  27. 27. Three Reasons • Winners hang out with winners and losers hang out with losers • You can't have relationships with all suspects, prospects and/or candidates • Smart recruiters hang out in the Talent Puddle For Better ROI © Recruitment Community Europe 2009
  28. 28. Private Talent Community • Special private relationships • Source of happy, working skilled candidates • Less competitive pressure • All the elements of headhunting without the cost • Catch ‘your’ perfect candidates © Recruitment Community Europe 2009
  29. 29. The Talent Splash
  30. 30. The Ripple and Splash Effect © Recruitment Community Europe 2009
  31. 31. The Dynamic Talent Splash • Talent Pools segment a market to best meet the needs of that market • Does it mean a static puddle of the same people? • You have different puddles for different needs • Use clever information management to match candidates to jobs immediately upon requirement • Make your puddle selection on the fly • The Dynamic Talent Splash © Recruitment Community Europe 2009
  32. 32. Review and Conclusions
  33. 33. Catch The Perfect Candidates © Recruitment Community Europe 2009
  34. 34. What is RCEURO? • RCEURO, The Recruitment Community for Europe, is the first Pan European community site where recruiters and HR professionals can seek information, share knowledge and network together across boundaries, cultures and languages, all at no charge • We are passionate about recruitment • Regularly updated website content is provided by independent journalists, RCEURO staff, RCEURO members, news feeds from HR/recruitment communications agencies, technology and services vendors • Content is published in multiple languages, A language translation module enables visitors across the EMEA region to read selected content in their own language • Audio and Video clips are regular features, ranging from ‘online radio’ feeds to video interviews with industry thought leaders and direct feeds from selected industry events • Approximately 2/3 of our members have responsibility for corporate recruitment/HR and 1/3 are in the recruitment industry © Recruitment Community Europe 2009
  35. 35. THANK YOU!! Any Questions? © Recruitment Community Europe 2009
  36. 36. Contact Contact Information: Site: Founder: Alan Whitford Tel: +44 (0)7971 864620 © Recruitment Community Europe 2009
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