Given the competitive labor market, you may be surprised to hear that open positions can take months to fill, and that hiring managers often cite a skills gap or a lack of candidates who are a good cultural fit as the reason. To address this challenge, more and more hiring managers are turning to talent pipelines as a recruitment strategy to ensure that they have star candidates when a position opens up.
Talent pipelines are a way of indicating your interest in a company even when there's not a current opening. This can be a huge time-saver for hiring managers, and a big job-search perk for job seekers. For instance, Kelly Services, a leader in providing workforce solutions, uses CareerBuilder's Talent Network solution as part of its continuous recruitment strategy, allowing prospective candidates to quickly complete a profile and submit a résumé regardless if there is an immediate opening suiting their skills and experience. Businesses often use the tool as a supplement to an internal career site and as a way to engage with prospective candidates before positions open.
Learn more about how this trend can change your career path and why talent pipelines are only expected to grow. Your job search will never be the same again.
A growing trend in hiring
Why are employers so interested in talent pipelines? Remember that hiring managers and human resources departments are responsible for keeping a business running smoothly, no matter their headcount. This means that it is in their best interest to fill positions as soon as possible so the company's work flow doesn't suffer or hurt their bottom line. According to a recent CareerBuilder survey, 65 percent of a subset of human resources managers who continuously recruit say the tactic shortened their time to hire; 54 percent said it lowered their cost per hire.
"Pipeline management and proactive recruiting will only save time in the back end," says Kelly Kudola, Americas recruiting manager for Kelly Services, a leader in providing workforce solutions. "There are so many more resources used in the reactive interviewing and screening process that our recruiters don't have the time not to continuously recruit."
You're the answer to a hiring manager's problems
While you may not be as interested in the needs of the hiring manager as you are in your own career's demands, understanding the hiring manager's concerns will allow you to better position yourself as the right candidate. It also gives you leverage in negotiating for a better salary offer or benefits.
These are some of the consequences hiring managers cite when a position is left open for too long:*
• Lower morale due to employees shouldering heavier workloads – 41 percent
• Work does not get done – 40 percent
• Delays in delivery times – 34 percent
• Declines in customer service – 30 percent
• Lower quality of work due to employees being overworked – 30 percent
• Employees are less motivated – 29 percent
• Loss in revenue – 25 percent
• Employees making more mistakes resulting in lower quality of work – 25 percent
• Higher turnover because employees are overworked – 22 percent
"Extended vacancies hurt companies' ability to grow, maintain productivity and keep existing employees engaged," says Rosemary Haefner, vice president of human resources at CareerBuilder. "While it takes an investment, companies that continuously recruit and build a pipeline of talent are able to significantly reduce their cost and time to hire."
Talent pipelines can empower job seekers
Hiring managers want to recruit the best talent and treat their job seekers well -- after all, you're not an employee yet, so there's nothing keeping you in their talent pipeline if you're turned off by the way a potential employer treats you.
"We want to be respectful of the fact that job seekers are likely in need of a position as soon as possible," says Josie Huber, director of recruiting business solutions at Kelly Services. "So if we are interviewing a candidate for a pipeline, it's important that we are very clear about the process and what they can expect. There may not be an immediate placement, but as part of our network, we want to position them as the person who gets the next opportunity."
If you haven't already done so, joining a talent pipeline can add extra power to your job search and keep you as a candidate for a position even when you're not actively searching. And every job seeker can agree that a technique that cuts time out of your search is something worth using.
For more information about the Kelly Services Talent Network, visit: http://kellyservices.jobs.net/
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*CareerBuilder-commissioned study, conducted online by Harris Poll, on the effects of the skills gap on the U.S. labor market, October-November 2013.