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How do you over come the challenge of managing your talent pool cost effectively?

By Alex Wong – Crackerjacks Business Support Partner

In today’s economic environment, I have found that a lot of agencies are saying that finding suitable candidates for roles is getting tougher.  With clients holding their specific requirements tightly, agencies are needing to almost find a perfect match before even considering presenting the candidate.  This is also compounded by the fact that there’s a lot of talent in the market at the moment – with varying quality and experience levels.  What this does is delay the recruitment/placement process and the cost of service to the client (with additional interviewing, vetting, performance checking etc).

Most agencies use their own internal talent pool as the first point of search as it’s readily available and candidates are somewhat vetted already.  The issue is, unless the pool is continually updated and replenished with fresh new quality candidates, it becomes obsolete very quickly.  Depending on the size of your talent pool, you may have someone (or at least attribute some of your own resources) to proactively managing the pool which includes regularly contacting candidates to check what their current situation is and whether they are still open to considering other options etc. This takes time, and can detract from your focus on client relationship management and business development.

Failing a successful search within your existing talent pool, the next step would be public job boards, social networking sites etc.  After being inundated with several hundred applications with perhaps only 10 that look possibly suitable and with further screening you would only want to talk to 3.  After interviewing them only 1 is worth file presenting to your client.  Even then the candidate doesn’t tick all the boxes but 90% of them.  Will they be suitable?

To now, how much cost and resources have you committed to finding the candidate for the client?  How much more do you need to invest before the client takes one on?

There is now an option available in the HR/Recruitment market for you to access an additional talent pool of over 5,000 vetted and performance checked candidates, in addition to your existing talent pool. If this sounds interesting click on this link