Build a talent pool: How to stay one step ahead

A talent pool is not only a strategic asset for companies, but also a decisive factor for long-term success in recruiting. In this blog post, you will learn how to build an effective talent pool to find qualified candidates and build long-term relationships.

What exactly is a talent pool

A talent pool, also known as an applicant pool or candidate pool, is a database of applicant profiles that a company maintains over a longer period of time. The talent pool makes it possible to target suitable applicants when a suitable vacancy arises. Instead of having to start the search for candidates from scratch for every vacancy, the company always has a pool of verified applicant profiles that can be activated quickly. This saves time and resources in recruitment.

Why a talent pool is important

Nowadays, it is more important than ever for companies to build up a talent pool. A talent pool makes it possible to always have access to a preselection of suitable applicants for future vacancies. This means that suitable candidates can be approached quickly and specifically when a new position needs to be filled. This saves a lot of time and money when searching for and selecting applicants.

At the same time, a talent pool ensures access to the best talent on the labour market. By making contact with suitable candidates at an early stage and collecting them in a pool, you have a competitive advantage over your competitors. The best talents are often quickly off the market and a talent pool helps to attract them to your company.

Another advantage is that a talent pool strengthens the employer brand. By showing qualified candidates that you are interested in them, even if there is currently no suitable vacancy, you leave a positive impression. In this way, the company is remembered and is perceived as an attractive employer.

Strategy for building a talent pool

When setting up a talent pool, it is important to think carefully in advance about what the goals are and how the process should be organised.

01 Set clear goals

Firstly, define the specific goals you want to achieve with the talent pool. For example, do you want to prevent a shortage of skilled labour in certain areas, secure qualified employees in the long term or shorten the time-to-hire for critical positions? Define measurable key performance indicators that you can use to evaluate the success of the talent pool.

02. Identify target groups

In the next step, analyse which talents and target groups are particularly relevant for your company. Should the talent pool focus on young professionals, managers or specialists with specific qualifications? The more clearly you narrow down your target groups, the more efficiently you can manage the talent pool.

03 Define internal process

Determine what the internal process for building and maintaining the talent pool should look like. Who is responsible for sourcing and approaching talent? How is applicant data recorded and where is it stored? When and how often will talent be contacted? A clearly defined process helps to build up the talent pool in a structured way.

04 Active search vs. passive applications

Anstatt nur Stellenanzeigen zu schalten und auf Bewerbungen zu warten, sollte man sich aktiv auf die Suche nach Talenten begeben. Das bedeutet gezielt potenzielle Kandidaten anzusprechen, die aufgrund ihrer Fähigkeiten und Erfahrung gut zum Unternehmen passen könnten, auch wenn diese sich momentan in einem Beschäftigungsverhältnis befinden. In Zeiten des Fachkräftemangels wird das Anwerben passiver Kandidaten immer wichtiger. Durch eine proaktive Suche können die besten Talente identifiziert und für eine Zusammenarbeit gewonnen werden, selbst wenn sie aktuell nicht aktiv auf Jobsuche sind.

05 Networking

Networking is an important channel for the active search for talent. Contacts at universities, with headhunters and in relevant industry networks can be used to gather information about suitable candidates. The talent pool can also be expanded through targeted networking at conferences and trade fairs. The aim is to engage in dialogue with potential candidates and arouse interest in the company.

06. Career fairs

Participation in careers fairs enables direct access to suitable candidates, for example university graduates. As a company, you can draw attention to yourself here in a targeted manner and convince them in a personal interview. Career fairs also offer the opportunity to attract the attention of talented people through presentations or workshops and to strengthen your own employer branding.

07. Social Media

Social media channels such as LinkedIn, XING or Facebook offer a good opportunity to search for and approach suitable candidates. Skilful social recruiting can increase your visibility as an employer and reach talented people. It is important to address candidates authentically and personally.

Optimise the application process

In order to attract the best talent to the talent pool, it is important to make the application process as simple and quick as possible. Potential applicants should be able to apply for a position within a few minutes. Complicated, multi-stage application processes tend to put many candidates off.  

The application process should be fully digital and mobile-optimised. It should be just as easy to apply via smartphone or tablet as it is on a computer. All necessary information and documents should already be provided in the job advertisement so that interested candidates can apply quickly and easily.

The candidate experience is also crucial. Applicants should get the feeling at every step of the process that the company is interested in them and appreciates their efforts. Automated confirmations when submitting the application and regular updates on the status of the application contribute to a positive candidate experience.

An optimised application process is the key to convincing the best candidates to apply and adding them to your talent pool. The simpler and more pleasant the process, the more successful the recruitment of top talent.

Managing applicant data

An important aspect of setting up a talent pool is the efficient and data protection-compliant management of applicant data. The use of a customer relationship management (CRM) system or specialised applicant management software is recommended for this purpose.

The advantages of such a system:

• Centralised data storage in one place

• Automated processes such as sending status updates to applicants

• Creation of reports and evaluation of data  

• Compliance with data protection regulations through role-based assignment of rights and logging

• Simple updating and maintenance of applicant data

• Internal forwarding and commenting on applications

• Automatic reminders to contact inactive applicants

With an applicant management system, applicant data such as contact details, application documents, correspondence and notes can be clearly organised. The automation of many processes saves resources and enables personalised communication with talent. In this way, contact can be maintained over a long period of time.

Communication with the talent pool

A talent pool is only as good as the communication with the applicants in it. It is important to keep in regular contact and inform applicants about company news, vacancies and developments within the organisation. 

• Plan regular newsletters or circular emails to the talent pool to maintain the connection. Share interesting company news, successes and milestones.

• Invite talent to company events or similar occasions to maintain personal contact.

• Actively maintain the company's social media channels and share content that is of interest to potential applicants. Link to job adverts.

• Conduct interviews or live chats where talents can ask questions. This makes them feel heard.

• Get feedback from talents on which type of communication is most helpful for them. Adapt your strategy accordingly.

• Be proactive and approach suitable candidates directly for interesting positions.

With a careful communication strategy, you will retain talent and have a pool of qualified applicants at the ready.