Using Talent Pools for Targeted Recruitment of Young Professionals

Talent pools are one of the most effective tools in active sourcing, which refers to proactive recruitment strategies. They’re vital for several reasons: numerous sectors face a shortage of skilled professionals, and many employees are open to change. Recent studies indicate that 75 percent of employees are considering a switch, and 86 percent would change jobs for a compelling offer (Source: StepStone, 2021). This means there’s a substantial pool of qualified individuals willing to change companies if presented with attractive opportunities. Talent pools are efficient ways to quickly and seamlessly connect with these potential candidates. Young professionals, in particular, can be effectively recruited through direct approaches via these talent pools.

Building a Talent Pool

A talent pool can be developed internally within a company or through external sources like job boards, employment agencies, or universities. Company-specific talent pools generally consist of previous applicants or interested individuals. Consider the following points when creating one:

• Data Protection: Candidates must actively consent to be included in a talent pool.
• Acquisition: It’s wise to inform second-best candidates, rejected applicants, as well as former employees, interns, trainees, or student workers about the talent pool. Additionally, career fairs, workshops, employee referrals, or targeted ad campaigns can be utilized to fill the database.
• Structure: The structure and criteria for categorizing talents in the pool should be well-thought-out from the start.
• Maintenance: Regular communication with interested candidates is necessary to keep their attention. A periodic newsletter for all candidates can be quite effective.
• Selection: Regularly filtering out unsuitable candidates is vital for maintaining quality over quantity. A talent pool should prioritize a smaller number of highly suitable candidates.

It’s clear that a talent pool requires continuous maintenance and cannot be built overnight. If time or capacity constraints hinder building or managing an internal pool, external resume databases are a viable alternative. Many job platforms also offer databases with thousands of job seekers, making finding the right talents easier.

The advantages of talent pools, particularly for targeting young professionals, are explained below.

1. Capturing Gen Z’s Attention

Almost half of Generation Z has profiles on a job board’s resume database, and over a third are registered with employment agencies. The younger generation shows significant interest in talent pools — nearly half prefer companies to reach out to them directly rather than actively applying (Source: Monster, 2020). They’re accustomed to creating social media profiles, so registering in a talent pool is straightforward for them, simplifying their job search.

Direct engagement through a talent pool is not only desired by young professionals but also leads to considerable feedback. On average, half of those contacted respond, and a third show interest and reply positively to inquiries. Moreover, two out of ten contacted individuals change jobs due to a direct approach, despite not actively job hunting at the time (Source: Monster, 2020).

Active recruiting via talent pools is thus an effective way to engage young professionals.

2. Saving Time and Money

Time and cost-saving benefits are evident: the tedious process of sorting through unfit applications is eliminated as talent pools target only suitable candidates, streamlining the process and reducing contact loops compared to traditional job listings. The step of rejecting unsuitable applicants is also bypassed. With reduced time invested in the recruitment process, costs are minimized. Additionally, having all candidate information in one place ensures organized and efficient applicant management.

By using a talent pool, several recruitment steps are eliminated, significantly reducing time-to-hire and cost-per-hire.

3. Approaching Suitable Applicants

Utilizing filtering options or smart algorithms, such as those in job platform databases, allows for precise pre-selection of candidates based on various criteria. This enables targeted searching for suitable candidates, using qualifications, required training, expertise, or location. Unlike applying for a specific vacancy, companies using active sourcing through a talent pool hold control over the process. Only candidates matching the job and company are approached. Given their prior interest in the company, there’s no need to further sell the company to them.

Additionally, there’s scope to tailor messages to individuals and specific target groups rather than sticking to general communication, as is common in job advertisements.

4. Enhancing Employer Branding

Regular and personalized engagement with users boosts employer branding. Even if the interaction doesn’t lead to hiring, Young Professionals are left with a positive impression of the company. Merely asking if a rejected applicant wishes to join the talent pool can enhance how the company is perceived externally.

Users in the talent pool should be contacted regularly, which can be done through newsletters introducing the company and its products or services, strengthening the relationship between candidates and the company. However, be cautious — too much contact can be off-putting and deter initially interested applicants.

Tips for Talent Pools

After outlining the key benefits of talent pools, here are six tips for companies to utilize them successfully.

1. Personalized Messaging: Avoid standardized messages when opting for direct engagement; a third of talent pool users are irritated by impersonal requests and won’t respond (Source: Monster, 2020).

2. Targeted Engagement: Instead of contacting everyone in the talent pool simultaneously, filter and carefully select recipients. A third of Gen Z has had negative experiences due to mismatched job offers (Source: Monster, 2020). This wastes time and is discouraging. A targeted selection of candidates and personalized engagement increase the likelihood of a positive response.

3. Creative Searching: Typically, targeted keywords, filters, or matching algorithms are used to find suitable candidates within a talent pool. If results are sparse, try a more creative approach, searching for relevant degree programs, necessary tool knowledge, or qualifications. Some candidates might even be interested in a career shift within the industry.

4. Responsive and Prompt Reactions: If candidates show interest in an inquiry, it’s crucial to respond swiftly. Prospective employees shouldn’t be kept waiting – short response times and reliably answering questions are essential. In the “war for talent,” every minute counts.

5. Maintain Contact: Even if a contact doesn’t lead to hiring, staying memorable to talent pool users is beneficial. Newsletters work well for this. Promotions or early product announcements could help maintain interest in the company.

6. Involving Departments: Although a talent pool is traditionally an HR tool, involve department representatives when selecting suitable candidates. They can better assess candidates’ fit for technical roles.

About Absolventa

Absolventa is part of FUNKE Works’ specialized job boards, targeting graduates and young professionals. Alongside recruitment solutions, we offer a variety of employer branding tools for companies, serving both young start-ups and established DAX-listed corporations.