Talent pool technology on increase

REDUCING RECRUITMENT time to fill, building a pool of rare skill types and minimising advertising costs are the three main factors behind establishing candidate databases

REDUCING RECRUITMENT time to fill, building a pool of rare skill types and minimising advertising costs are the three main factors behind establishing candidate databases.

A two-year study of 75 of Australia’s biggest employers found that 43 per cent of the companies have a candidate database while another third are planning to implement the technology to do so within the next 12 to 18 months.

In total, 94 per cent of organisations use an in-house or third party technology solution to search for talent, while the remaining 6 per cent use a manual process such as paper or Microsoft Excel to store candidate data.

Organisations that plan to implement a candidate database or talent pool over the next 12 months said the biggest hurdles to implementation were the introduction of technology to replace existing manual processes and re-engineering current recruitment processes.

The study found both of these hurdles are related to change management issues and managing the move from a traditional manual-based process to a more proactive approach.

Similarly, another hurdle HR professionals face is financial justification to senior management or the executive board.

As such, it is important for HR professionals to build a business case to highlight the current challenges and detail the potential benefits of building a talent pool, according to Karen Cariss, CEO of PageUp, which conducted the study.

She recommended implementing progressive technology in order to make the process of managing a candidate database easier. It is also important to have the correct team structure to support the talent management process, and set up measurements for the entire process, according to Cariss.

Taking such steps would make it easier for recruitment teams to take a more strategic approach, looking to longer term solutions to achieve ongoing return on investment.

The study found Australian organisations are very much in the infancy stage of building effective candidate databases and talent pools.

Research in the US has indicated that, although data mining of candidates can be complex, it is essential for companies that see recruiting as a strategic component of future growth.

Those organisations that have not even started on the path of mining databases and talent pools will find themselves at a competitive disadvantage as their direct competitors recruit more effectively via maintaining cost effective relationships with key talent.

There are a number of challenges for Australian HR professionals as companies establish more sophisticated candidate databases, said Cariss.

Firstly, HR professionals with recruitment responsibilities will need to change traditional approaches to recruitment – that is, advertising, waiting for a response and then hiring, she said.

Rather, recruitment processes will need to change to allow for talent pooling for the future. “They will be targeting key skills and individuals on an ongoing basis based on organisational needs,” she said.

Furthermore, talent pools should link into succession planning technologies to assist in retaining talent, promoting from within and recruiting roles that require backfilling, according to Cariss.

Recent articles & video

How recruitment agency marketplaces can save time, costs in talent acquisition

Manager made redundant while on leave: Is it unfair?

Oral termination vs. dismissal via email: Which is more effective?

Work health and safety – increased activity means employers need to be proactive

Most Read Articles

2 in 3 Australians OK with date change for Australia Day

Does a change in working arrangement also change employment status?

FWC: Employees entitled to double pay for insufficient breaks between shifts