How to Build a Talent Pipeline Dramatically Reducing Your Cost Per Hire

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Join us to learn more about talent pipeline best practices from companies like Aon & NPR by registering for our 2/14 webinar at 11 AM CST. Click here

Social recruiting is important and growing in it’s use by recruiting team every single day.  Companies are engaging candidates in real time using different platforms to fit their candidate audience, the company’s industry and needs.  With recruiting, the problem is immediate, our company has a position they need to fill and we react by creating a position requisition and sourcing and interviewing candidates to fill that role.

Talent & Candidate Pipelines Reduce Cost Per Hire

The idea of the pipeline takes companies out of reactive recruiting or what I call just in time recruiting and looking at building a strategy to fill those positions before there is actually a need or budget to fill that position. This shortens the time to hire, lowers cost per hire and helps us find a better candidate because the qualifying has already been done.  Candidates have researched the company and companies have researched a candidate long before the interview.

  • Create Touch Points. Typically used as a marketing term, touch points refer to the points where you reach the customer. These touch points move the customer to purchase and in our case move our candidate to apply for a job or job the talent network or community.  The question is how many touch points does it take to move the candidate to apply or to join the network.
  • Recruitment is Not a Point in Time.  What I mean by this is if you are hiring for a nurse position at your hospital, SOP may state that you post the job opening for 15 days, but by doing so you are missing engaging great, qualified, and passive candidates who did not happen upon your job posting that is only published for a short period of time. By creating recruitment opportunities and landing pages to capture these candidates, you are driving candidates 365 days instead of the standard 15.
  • Leverage Your Employment Brand. Much of a talent pipeline can be built using your employment brand.  Help create opportunities where candidates can casually learn about you. This may be through Twitter, videos on your Career Site or at a job fair.  The key is build a network and strategy that focuses on what makes your company a great place to work and apply.
  • Use Technology. Your recruitment strategy doesn’t have to be high tech or expensive to impress, but understand that we are becoming a multi-screen culture. As I sit here writing this post on my laptop, I have the television on and my ipad and iphone within arms reach.  It’s not surprising as 77% of television viewers are multi-tasking with another device. It’s a part of our cultural nature. These touch points need to be considered in how we build our recruitment strategies. It’s important to understand how our candiate’s digest information, communicate and engage through multiple mediums and technology.
  • It’s About Community.  Because of technology we are more connected than ever and the key to a successful candidate pipeline is through building a community and relationships. Whether it’s a referral platform, social media conversations or a company managed and operated community, the people are the key to it’s success.  This means providing information, resources, and touch points that are personal to the job seeker you are looking to connect with.

Join us to learn more about talent pipeline best practices from companies like Aon & NPR by registering for our 2/14 webinar at 11 AM CST. Click here

Photo Credit Big Stock Photo

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Comments

  1. These are all great ways to build a talent pipeline and get the candidates you need into your organization. Using technology from new ATS systems, to video interviewing, to social media tools is a great way to build up this community and reduce your costs. At the end of the day, however, it’s important your company has a strong employer brand and a great community. This way, candidates will come to you even when you don’t have jobs on offer.

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