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Building an Effective Talent Pool

Developing a talent pool refers to creating a database of qualified job candidates that can be drawn from for current and future hiring needs. Building a talent pool is important as it can reduce time to hire, improve hiring quality, and lower costs. The document outlines 5 steps for developing a talent pool: reviewing strategies, assessing skills gaps, creating a strategy to fill gaps, providing skills training, and monitoring progress. Maintaining a talent pool is meant to speed growth by having the right people for roles and aligning competencies, performance, succession planning, and retention efforts.

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256 views11 pages

Building an Effective Talent Pool

Developing a talent pool refers to creating a database of qualified job candidates that can be drawn from for current and future hiring needs. Building a talent pool is important as it can reduce time to hire, improve hiring quality, and lower costs. The document outlines 5 steps for developing a talent pool: reviewing strategies, assessing skills gaps, creating a strategy to fill gaps, providing skills training, and monitoring progress. Maintaining a talent pool is meant to speed growth by having the right people for roles and aligning competencies, performance, succession planning, and retention efforts.

Uploaded by

shiba
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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Developing talent pool

Submitted by:
akankshya dash (1861301070)
Subham satyam(1861301109)
ASHIRBAD MOHAPATRA(1861301074)
Talent Pool
Talent Pool refers to a place or database where
recruiters and HR Managers keep all of their top
job candidates. Talent pools make not only
candidates that have applied for jobs, but also
sourced, referred candidates, silver medallists
and candidates that have willingly joined your
pool in an inbound way.
Why to build talent pools?
Today, everyone is talking about building high-
quality talent pools, but what does it mean to
build a talent pool?

• Building talent pools with qualified candidates is


important for many reasons, and some of the
most important ones include reducing time to
hire, improving quality of hire and reducing cost
to hire. In today’s world of data driven
recruiting, these metrics have become extremely
important.
Cont…
• Imagine if every time you had a job opening, you
had a pool of talent from which you can just pick
the best one! Sounds great, right? This is the
reason why many recruiters have started
building high-quality candidate database for
current and future needs.
5 STEPS FOR DEVELOPING A TALENT
POOL
• Review your organisational strategies
• Assess the company’s current talent to identify
any skill gaps
• Develop a buy, build and borrow strategy for
bridging the gap
• Create modules or groups of activities that will
help employees get the skills they need
• Monitor progress and make regular adjustments
IMPORTANCE OF TALENT POOL
• Reduce the cost of recruitment
• Reduce the time spent on hiring
• Identify the quality candidates for the
future
• Talent engagement
Talent identification and business
alignment
• Aligned core competencies
• Job performance profile
• “Right Fit” talent recruitment, assessment &
selection
• Succession planning
• Workforce planning
Performance management and
development
• Performance Mgmt.
• Leadership skill & training
• Leadership development
• Career development & planning
• Hi-potential talent relationship with
Mgmt.
Proactive talent retention
• Turnover analysis
• Early warning system
• Retention planning & analysis
• Employee engagement
• Market competitiveness
Goal of talent pool
Faster growth and achieve
organisational goal

Organisational
Clear strategy Right people in the
structure and
right place
processes

Identify Develop Team


Team work Team
development
leaders leaders

Retain leaders
Conclusion
•Developing a talent pool

• Combine internal development and external


recruitment.
• Systematically identify future business need,
knowledge, skills and capabilities that may be
required.
• Develop talent in organisational context rather
than for specific roles.
• Prevent narrow specialised role.

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