As a leader, part of your job is to make sure you have a sustainable talent pipeline to help ensure the future success of your organization. Your talent pipeline is your “go-to” resource when the time comes to fill a job vacancy or solidify your overall succession plan.
Though the best candidate for the job may be either internal or external, chances are that your talent pool is a good place to start the recruitment process. Research published by the American Management Association has shown that 25 percent of middle-management positions filled by external hires have double the turnover rate of those filled internally.
Hire for the Future
Recruiting is an ongoing process, not a one-shot panacea. With that in mind, it’s critical that you build your talent pipeline with an eye on the future. Be proactive about building your bench strength and keep these premises in mind:
- Have a clear picture of the skills your associates need, and hire for both the short and long term with this in mind.
- Make sure your talent pool supports your business strategy and mirrors your organizational needs.
- As your business changes, so will your talent requirements, so plan to reassess your pool on a regular basis.
- Make talent management part of your business culture. Educate managers of others to “think talent” as they nurture and develop their teams. (As an added benefit, this also helps your managers with their self-development goals.)
- Develop and promote high-potential talent. These are the associates who take initiative, welcome new responsibilities and are consistently engaged. They’re the associates who want to be leaders.
What it all comes down to is building the best team, including your starting lineup of current associates and those on deck – skilled, confident and ready to step up to the plate when needed. Your recruiter is your partner as you make this happen, while keeping overall costs per hire to an efficient and effective low. Make sure communication with your recruiter is ongoing and open, in order to keep your staffing plan consistent with your business plan and budget.
Select Group can be that partner. We’ll connect you to the right talent – for today and for tomorrow. We make it our mission to know your business and your talent needs, and to match you with candidates who will support your success for the long term. Contact us today to learn more!