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What is a Talent Pool?

And How to Build One for Your Business

by Ashley Ward

When a position at your company opens up, what do you do? Of course, it’s time to start looking for ways to fill that position and get the perfect person in that spot. Do you have to start your search from scratch, or have you already built a talent pool to tap top talent from right away?

What is a talent pool?

A talent pool is a database of potential candidates that could satisfy various needs within your company. These are usually candidates that are qualified and have previously applied for a role within your organization, have expressed interest at some point, or have engaged with your online talent brand.

Talent pools allow your organization to sort through a sea of “warm” candidates that fit your culture, possess the right skills and experience, and want to work with you. A talent pool should be well-organized and contain information about which roles the candidate could fill, their skills, and even their Predictive Index profile. With an in-depth, organized talent pool, you don’t have to start fresh with each open role. You can start your search with a solid group of candidates who you have vetted and who want to work for you.

How do you build and expand your talent pool?

There are many ways to strategically expand your talent pool. As you source candidates and interview for various open roles, be sure to keep your notes and add the candidate details to your database as you find them. Be sure to align with your team on what types of candidates are good for this pool, and always expand it as you have new interactions with potential candidates.

When the candidate pool feels like it’s running low, it may be time to get creative. Here are some unique ways to build your talent pool:

Visas and Sponsoring

Many employers do not offer an H1B1 Visa, it’s expensive but if the returns can be worth it, it’s something to consider. Why not expand your candidate pool and make it easy for everyone to come work for you?

Remote Employees

What if you open up select positions to candidates working remotely from anywhere in the US? Now I challenge further, what if you open it up to candidates working globally remote? They will potentially bring a diverse worldview to the business.

Passive Recruiting

It is an investment to implement passive recruiting tools. Either invest in these tools or identify a recruiting firm with a validated and objective recruiting process to passively recruit for you.

Building a talent pool takes some upfront investment of time and energy, but that investment will pay off in the future when your company has an opening and you already have the perfect person. Do you need help building your talent strategy or finding your next perfect candidate? Get in touch with us and let us know how we can help!

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