What is Talent Pooling? Is it right for me?

The management team have just set out the objectives for the next two quarters. Optimism is high and the plan is to double the turnover and now you need more headcount. Its been the same plan for the last year and if only we’d got people on board quicker we’d be well on schedule.

 

Think of your growing business as being on a journey and you are driving the bus. When you started you were just in a Minibus but over time the bus has got bigger. Along the way you stop at bus stops and people get on and a few get off the bus, and the more that stay the bigger the bus gets.

But what happens when there is no-one at the bus stop?? Or worst still you had arranged to meet a great guy and they didn’t show up?

Well you could go into the pub across the road and shout – hey anyone want to get on my bus? – this is advertising on job boards.

You could call in on the bus station, which is full of people milling around wanting to get on a bus but not bothered where the bus is going – this is using a generalist recruitment agency.

Or maybe you could have invested some time networking and spreading the word about this awesome journey and how great the people are and how much fun everyone is having. Now there are more people at the bus stop than you can take onboard – but that’s ok because you’re building a bigger bus and that will be along soon. – THIS IS TALENT POOLING.

If you plan to grow then you need to plan your resources. Controlling your own Recruiting Strategy means that you can stay one step ahead of your resourcing needs.

By talent pooling and tracking your next key hires you can line up resources to join you when you need them without putting a brake on your growth trajectory.

No external service is going to do this for you as cost effectively as you can - we show you how.

 


Seven simple steps to recruiting

1: What do we need this person to do?

This might sound obvious – but sit down, have a coffee and consider what exactly the new person needs to do? Think about who does what within your company? Is this an opportunity to shuffle the cabinet?

List out the tasks in order of importance and think about the workflow. Will this person be constantly busy? Or will there be busy and quiet periods? Try to blend time bound and on-going tasks.

Keep a lid on your expectations. Most roles expand as people become efficient so plan ahead. A new colleague will be far more motivated by the confidence you show in them by giving them additional tasks when they are ready against the new starter who is overwhelmed by the workload in front of them and runs for the hills after a few months.

 

2: Who would do this? What are the skills / attributes they need?

This breaks down to three sections:

a) What legal requirements are there? For example they may require a certain level of certification or they may need to obtain a level of security clearance. Be careful here – keep only to the legal “must haves” and not the “would like to haves.”

b) List out the skills specific to the role; a skill is a physical capability demonstrated by “having done it before”. Break them down in to the essential “must have’s” and the optimal “would be good to have”. Again be realistic and consider where specialist training might be required on specific systems or machinery.

c) List out the attributes that would best suit the role and your own company style. An attribute is a personality trait such as “self-starter” or “dedicated” or “good communicator”. Be careful here – we all want bright happy people to work for us but if the role requires precision and care then these are more important. Think of someone who was great in this role – what was it that made them great? Again list these in order of importance.

Finally reconsider your skills and attributes lists and delete all beyond the top 5 of each.

 

3: Lets go find them – where do they hang out?

Now you know what you are looking for consider where is the best place to find such people? Do you already know this person? Who do I know who would know this person? Maybe your competitors, or suppliers or other network contacts? Ask your trusted contacts for ideas where to find such a person – what works and what doesn’t. Fisher-King can help you here.

This really is a case of horses for courses, if you are looking for a particular niche such as IT or Accounts then you could consider specialist job boards, or other media these people will follow. If your need is for lower paid general staff then a more local medium would be more appropriate.

 

4: Tell the world – We’re Hiring

Now you’ve hit the green button and you need to spread the word.

Hold on! Consider how you are going to handle the response. Who’s going to field the enquiries, who’s going to filter the good guys and reject the rest?

Have one central point of contact and then drive all your responses to that one point. This may be an individual or it may be a page on your company website or simply an email address.

Then - Yes advertise through the routes you’ve identified above, but also include general social media such as Twitter or Facebook or LinkedIn, or any other networking media for your industry.

 

5: Can they do the job? - Selection

It’s not important to receive a CV or have a complicated application process, you can equally consider a LinkedIn profile or the testimony of a trusted source; however, each candidate should be assessed against your requirements from section 2 above. This will give you three simple piles: Yes / No / maybe.

Set a timescale and reject the No’s. Invite the Yes’s to interview.

 

6: Will they fit in - Interviewing

The purpose of an interview is to determine 3 things:

a) Can they do the job?

You need to construct questions which determine that the candidate can actually do what you need them to do. Use competency based questions that invite the candidate to give examples of where they have done certain things. Challenge their answers and drill down for fine detail – this way you will soon work out the boffins from the bull-shitters.

b) Do they want the job?

Through the course of the interview process you need to determine why they want this job? What’s their motivation? Don’t think that just because they applied that they really want your job. This is important to get right – without the right motivation the candidate won’t be committed to you or your company.

c) Can I work with this individual?

We all have our own quirks and idiosyncrasies. If you are going to spend 7hrs a day with this person will you get on? Can you manage them?

Once you find a candidate who satisfies a b and c then you have a contender. If they don’t satisfy all three then – DON’T HIRE THEM.

 

7: Making the offer

Getting the offer right is key to your ongoing relationship with your new employee. By this stage you should have determined their worth to you and their expectations regarding salary and benefits etc.

If your offer is complex then bring the candidate back for a face-to-face offer so that you can bash out any fine details and eliminate any mis-understandings.

Finally gain verbal acceptance to an offer before you put it in writing. Never presume someone will simply say yes. Follow this up with written acceptance and set a start date. Now you can reject the maybe’s.

 

About Fisher-King

Fisher King Associates Ltd was created to improve the application of good recruitment practice across the spectrum of small and medium growing enterprises..

Through the sharing of our knowledge and experience, our aim is to enlighten our clients by giving them the tools and understanding to be significantly more effective in the modern recruitment marketplace reducing their cost per hire and time to hire by taking ownership of their own recruitment processes.

Come and talk to us.

 


Should You Bring Recruitment In-House?

The world of recruitment is a perfect example of how changes in society change whom we hire. Access to people has never been so open and will only continue to evolve. To survive in business you also need to evolve. All of your interactions with clients, customers and competitors are interconnected. The best way to leverage your advantage is to be in control of the whole orchestra and not just the wind section.

 

Increasingly, smart companies are taking control of the way they recruit staff at all levels. Putting in place strategies to ensure they maximise the opportunity to bring in the right people at the right time.

By bringing recruitment in-house you can reduce and in some cases eliminate the need for external methods such as Job Board advertising or recruitment agencies, with the benefit of significantly reduced cost per hire and time to hire.

If you plan to grow then you need to plan your resources. Controlling your own Recruiting Strategy means that you can stay one step ahead of your resourcing needs. By talent pooling and tracking your next key hires you can line up resources to join you when you need them without putting a brake on your growth trajectory. No external service is going to do this for you as cost effectively as you can.

Typical Agency fees are in the 15-20% of Salary range – meaning that a £30k hire will cost some £6k in fees.

A typical in-house team will reduce your average cost per hire to £1-2k.

So, when you add in the multiplier effect of marketing and brand awareness combined with your In-House Recruiting Strategy and the effect on your bottom line is significant.

Is it time you considered taking control of your resourcing and bringing your recruitment in-house?