W ith every day that passes, the non-employee is becoming a more and more strategically significant workforce component for clients of all sizes across all industries. Why? It’s a simple story of supply and demand. There is a shortage of talent available to fill key positions (ranging from warehouse workers to data scientists and everything in between), and in-demand workers are finding they prefer to work as non-employees for a variety of economic, cultural and technological reasons.
Companies need every advantage they can get in attracting this talent, which is what leads them to consider alternative sources of supply. This current climate has set the stage for three key trends in building talent pools that are both efficient and effective. Recently, I sat down with Rick Roberts, founder and president of Genesys (a premier IQN Connect Ecosystem partner providing Talent Cloud solutions for specialized talent) and IQN’s Brian Hoffmeyer, VP of product marketing, to get the scoop on the latest trends in activating effective talent pools for enterprise organizations.
#1: Talent Pools Enable a Proactive Recruiting Approach
For the last two decades, a very reactive recruiting style has been prevalent, but companies are seeking different, more proactive approaches. You may believe your job board approach is working just fine. However, according to Roberts, “It is so much of a hassle to put a resumé out on boards, and we estimate about 70% of potential workers don’t even make the effort.” In building talent pools, companies get the more proactive approach they desire while tapping into nontraditional sources. With this more aggressive approach, they can attract the more passive worker they didn’t have access to with less assertive recruiting strategies.
#2 Talent Pools Help You Win the War for Talent
The war for talent is intensifying. There is a scarcity of talent across geographies and for certain skillsets, with many companies vying for that talent. “The competition for talent isn’t just with your direct competitors anymore. It’s with other companies that could be right down the street from you with no direct link to your industry, but they need someone with the same skillset you seek—a mobile app developer, for example,” says Hoffmeyer. “As a result, companies are trying harder than ever to give the talent in demand a good experience from the onset—one that reinforces their brands and makes people want to work for them.” Talent pools enable companies to provide a smooth recruiting process and positive brand experience for potential candidates from the very first contact.
#3 Talent Pools Help Candidates Find the Right Role
Talent pools allow companies to find workers who are determined to further their careers by building on existing skillsets. “Today’s workers want more control of their career paths… their destinies. You don’t need to look any further than LinkedIn to see how people are building their individual brands,” says Roberts. “And that becomes a compounding factor for workers. Their personal brand builds quickly as they work for different companies and advance their skillsets,” says Hoffmeyer. This desire to not be “owned” by any company also leads to many workers’ mobility from one company to the next… and the next. Companies that embrace the concept that doing what’s best for the candidate is what’s best for everyone will attract (and retain) the best talent.
Building Talent Pools: Why Now?
The buildup of these trends has been gradual over the last 20 years, but we’ve reached a tipping point over the last year to year and a half where the demand, trends and technology have all come together to create a solution. Hoffmeyer says, “If companies don’t evolve and add alternative sources such as talent pools to their hiring programs, they’re going to miss out. They won’t be able to compete with companies wooing the same resources.”
Roberts adds, “Every company has talent coming at it from different directions—contingent programs, direct hiring, referrals, etc. The challenge is there hasn’t been a mechanism that ‘pooled’ them together and kept up with them proactively. Talent pools are the answer to overcoming that challenge.”
Talent pools aren’t a thing of the future; they are here now, and a talent pool can be built for any type of skillset: W2 employees, independents or people interested in working directly for the client. Awareness of this technology is building, particularly with early adopters, and even those companies are still figuring out how to use talent pools to their full potential. This creates an opportunity for organizations like IQN and Genesys to work together to educate enterprises on building talent pools and reaping the benefits from a more proactive method of hiring. Don’t get left behind. Contact us today, and let us help you stay ahead of the game.