How To Build Your Talent Pipeline This Year
- October 10, 2020
How to build a talent pipeline for your practice is a question many of our consultants are asked.
Logical when you consider that developing your team and the talent within your organisation will be key to your growth this year.
What Is A Talent Pipeline?
Contrary to what you might expect to read on a recruitment website, building a talent pipeline involves developing your current employees in addition to recruiting talent to ‘plug’ skill or experience gaps or fill your expansion needs.
Both will be critical for your success.
Building A Talent Pipeline: Business Strategy
The first question to inform your talent pipeline is focused on your current business growth strategy.
Are you planning to move into a new geography or perhaps offer a different aspect of your service?
You might have focused on business services and now want to expand into home and family; perhaps even consider wealth management.
The question is, do you have the capability in these areas currently or do you need to bring in a director or consultant to build a new vertical who are keen to move?
Considering these questions, how will you now plan your recruitment and within what time frame?
As a recruitment company with twenty years experience, we notice that many clients when they first come to us haven’t thought through their long term plan.
Remember to factor in budget and time to hire to hit your growth goals and be prepared for people leaving, which will produce gaps which need to be filled.
Building A Talent Pipeline: Your Current Team And Their Development
In today’s current market and depending on the size of your business it’s unlikely that you will be overstaffed with employees, ready, willing and able to be developed into a different role.
However, if you have a robust training and performance development process, it is more than possible that members of your current team will be able to move into different roles. Depending on your timelines it may be viable that some members of staff can develop to fill your growth gaps over the next one to three years.
Remember in today’s workplace; Millennials rule and are increasing in numbers across the globe. Something they deem key in their work is the opportunity to be developed. Therefore factor this into your talent development strategy and your future recruitment plans too.
Building A Talent Pipeline: Your Employer Brand
Recently we were carrying out some of our own research with candidates on why they choose to work with certain clients and not others.
Employer branding, culture and approach were giving as three influencing factors. One candidate even shared a story how after she came out of the interview she had been overwhelmed, in a positive way, by the ‘feel’ of the organisation and their approach and was ‘keeping everything crossed’ that they made her an offer.
This isn’t an uncommon story, and the impact of your employer brand is more critical than ever.
A strong employer brand showcases the values and company culture in your organisation – all essential for attracting talent to your organisation and engaging your current staff.
More than 59% of managers say that branding is one of the critical components of their HR strategy.
While there are many different definitions for “employer branding” depending on whom you ask, they all mostly say the same thing. Your brand is the way that ‘potential new team members’ in the business world perceive you, and your opportunity to showcase what makes you unique.
Otherwise known as an “Employer Value Proposition”, your brand can help both you and your recruitment partner truly attract talent to your organisation while ensuring that you fill your team full of people who share the same values.
Building A Talent Pipeline: Using A Specialist Recruiter
The majority of clients we work with here at Clayton Recruitment come to us to help them build their talent pipeline because they have neither the time or connections to do the job as well as they would like.
Recruiting is our job; unlike most businesses who have to attract and work with clients, develop their fee earners and growing teams and then, as the business dictates recruit new members of the team.
A challenge for an already time-pressed individual.
Though it is great to recruit from within, it’s also key to bring in new ideas and perspectives from key hires who might have a different portfolio of experience and results.
Finding these individuals in a skill short market takes time.
Though we would always encourage building a network and leveraging your existing contacts and old school connections, this doesn’t always produce the results you want.
For instance, James who you have met at various social gatherings may have a high profile, however, might not have the detailed attributes your role description indicates is pivotal.
This is why working with an experienced recruitment company in the sector will make all the difference in building your talent pipeline.
Utilising all these different ideas and suggestions in your practice will enable you to start the process of building a strong talent pipeline this year.
About Clayton Recruitment
Clayton Recruitment has been partnering with organisations across the country since 1989, and during that time has built up an excellent reputation for trust and reliability.
With specialist divisions covering Commercial, Financial, Industrial, and Engineering appointments, on a permanent basis. If you are looking for your next career move, we can help. Call us on 01772 259 121 or email us here.