Is your talent pool too shallow?

For rapidly developing sectors of employment such as jobs in engineering and design or IT, the evolution of a company depends largely on the expertise that is available to it. Consequently, it is essential for businesses to have access to a quality talent pool in order to continue to be innovative and maintain a strong industry presence.

Yet in the current talent-scarce market, how can organisations ensure that they not only have enough candidates available to them, but a deep talent pool that will allow them to push new professionals through the leadership pipeline and expand from the ground up?

Ensure that you have a pool of highly-skilled talent to flow through the levels of your business.Ensure that you have a pool of highly-skilled talent to flow through the levels of your business.

Your talent pool shapes the future of your business

Having a talent pool can go along way to increasing the efficiency of hiring new personnel, and has the potential to significantly reduce the associated time and cost. However, recruitment tools provider the Employment Office reveals one of the biggest advantages, which is that talent pooling can help you identify candidates for roles that don't even exist yet.

This means that when your business undergoes a shift or growth, it will be much more agile in terms of its ability to ensure the continuity of operations in the face of change.

Human resource solutions provider SAP SuccessFactors emphasises the importance of this kind of talent management for staying ahead of the curve. For instance, when an organisation faces a sudden leadership change, it is essential that the transition happens quickly to minimise the risk of disruption. By having a quality pool of candidates, companies will be able to quickly fill the vacancy with a suitably-skilled person and return to business-as-usual.

A good talent pool will contain a wide range of skill sets and performance levels.

How can you ensure you have a deep and diverse talent pool?

A deep candidate pool depends on having both a range of different professionals and a selection of high-performers that can be pushed through the succession pipeline. 

According to a 2013 study by Aon Hewitt, having high-potential candidates in your talent pool is central to the ongoing progression of a company. Placing the right people into the organisation has a critical impact on the long-term competitiveness of a company, so employers need to be able to identify top talent and where they may fit in the business.

Similarly, the changing demands of the contemporary business environment require that companies maintain a diverse database of talent with a variety of skills to ensure they are ready to respond quickly to new developments.

If you are looking for a specialist who can help you develop a great talent pool by working with you to map key elements of your workforce, contact the team at Bayside Group today to ensure your business is ready to move into the future.