Talent pipelines are a great way for talent acquisition and HR teams to combat the incredibly low unemployment rate that is hovering around 4%.
Another trend which we’ve written extensively about is that job seekers are becoming more and more like consumers. They are building a relationship with brands over long periods of time, and doing extensive research on a given company before applying.
With these two factors in mind, many People Operations teams are starting to think about how they can effectively pipeline talent.
Stealing from marketing
Like many of my favorite talent acquisition tactics, this one comes right out of marketing’s playbook. Have you ever heard of companies like Hubspot, Marketo, or Pardot? They call them “marketing automation” products. Basically, they capture leads of people who may want to buy a product in the future, and then “nurture” them down the funnel over time.
How it works for HR
In our use case, we’re doing something quite similar but for candidates instead of leads.
Here’s the candidate perspective: I heard about your company, I went to your careers site, I was intrigued, but I don’t have a resume, so I’m going to leave my email in your “talent community” and then hope you’ll send me some interesting info each month.
Over time, our engagement with candidates turns into hires as our talent community members move down the funnel and into the application process.
If you’re interested in building out a talent community, you should check out NextWave Hire’s product to see if it’s a good fit for you.
Hey, everybody Phil Strazzulla from NextWave Hire here, back with another Whiteboard, Wednesday and today we’re going to talk about talent pipelines or talent communities. Some people call this crm, there’s 100 names for it, and that’s why we thought we clarify what this means, why people are doing it, and how it actually drives value. So let’s take the example, um, of your career site here. You’re driving traffic from pr, your employer branding efforts, linkedin, glassdoor, emails, inmails, all of these different things that you’re doing to drive awareness about your company and you’re driving traffic to your career site. And actually to tie this into last week’s whiteboard Wednesday, let’s pretend that you’re actually driving this to a microsite about what’s it like to be an engineer, your company, and you’ve got a video about the microsite or I’m sorry about engineering. You’ve got testimonials, etc. And what happens here?
Imagine you’re somebody that finds out about your company through pr. There’s some sort of precedent. MAybe your company raised a new round of funding. You get to this website and you’re like, hey, this is actually pretty interesting, but I don’t have enough an up to date resume or I’m still in school, and so this person bounces, they leave. You never hear from again, and chances are when they’re ready to apply for a job, they aren’t thinking about your company, and so that’s why we build in this little talent community here. So basically what this is is a little form that exists on your microsites, your career site. That’s for folks who are interested but not ready to apply. They can leave their name, their email, their title, what job they’re interested in, their linkedin, whatever information you want to collect, we recommend keep it really light weight. A lot of times what happens is people are bouncing because they don’t want to go through your application process, especially if it’s pretty arduous.
Click submit and they wind up in your pipeline. So these talent pipelines are great for sending updates to people and eventually what we want to do here is we want to move them down the funnel. We want to engage with them and eventually hire them and engagement could look like inviting them to an event and talking to them in person. It could mean having a conversation with the recruiter. It could mean getting them to apply through the ats. You’ll notice that I’ve got a couple of different pipelines here. The point I want to make is that you really need a pipeline for engineering versus sales versus the boston office versus women in tech, etc. And the reason is that you’ve got these different personas and the person who’s in the engineering pipeline cares about much different events and content that the person using the sales pipeline and getting into how to actually engage with them is kind of another Whiteboard Wednesday that we’ll get to in the future. In fact, there’s so much nuance to tell them communities that we’ve got a couple of different things that we’re going to talk about in the coming weeks. ROI. How do we actually calculate the value driven from this? The folks that watched last week’s vIdeo on microsites realize how we kind of think about ROI. Best practices, how to engage people. Worst practices, maybe the most important aspect of this. Tons of content coming. If you’re interested, go to blog.nextwavehire.com and subscribe, and feel free to leave a comment.