A skills gap problem has been growing in India, and it is impacting employers across the country. In fact, 53 percent of employers stated they currently have positions for which they can’t find qualified candidates, according to a 2013 CareerBuilder survey.
What is that one way to help close the gap? By continuously recruiting year-round to be better prepared when positions open up down the road.
But how many employers are actually doing that? Don’t be one of those employers who understands that there is a skills gap, but doesn’t do anything about it. Everyone can benefit from simple workforce planning to ensure they are prepared every time there’s a job opening.
Businessdictionary.com defines workforce planning as the “systematic identification and analysis of what an organisation is going to need in terms of the size, type and quality of workforce to achieve its goals.” As we have stated in a previous post: Workforce planning is about creating a database of pre-qualified candidates ready to be contacted and called in to interview, otherwise known as a talent network or talent pipeline.
Having a talent network can play a role in ensuring that you have a continuous supply of the talent you need.
As Abdel Tefridj, vice president of Workforce Analytics for CareerBuilder U.S., says: “What you need to do is build a talent community, so that’s where Talent Network can help you. You don’t want to wait until you get a job opening, so just get a talent community and keep them engaged.”
3 reasons why you should invest in a talent network:
1. Reduce drop-off. The bad news: The average application process has an extremely high — 95 percent— drop off rate, according to Career Site Market Research Study 2012. The good news: It doesn’t have to be this way. Why? Because with CareerBuilder’s Talent Network, candidates can join your talent pool in as little as two clicks, and 70 percent of them will also leave a resume. It’s smart to make the process easy up front and then leverage Talent Network-optimised technology to stay connected to and engage with the best, most relevant candidates in that pool.
2. Re-engage interested candidates. On average, it takes a Talent Network member 52 days from the time they join to the time they submit an application. How do you get them from point A to point B? It’s simple: Candidates who join your talent network want to connect and interact with you over time to inform their career decisions. Meanwhile, our optimised technology works behind the scenes to make sure members automatically receive targeted job alerts when your new positions are posted. It’s actually quite effective if you think about it. Talent Network job alert emails get three times the average email open rate and 10 times the average click-through rate. Re-engaging candidates is so much more effective with always-on recruiting.
3. Expand volume. Did you know that as many as 80 percent of candidates are willing to join a talent community? CareerBuilder has access to data that can tell you when, how and where potential candidates are searching. We can take that intelligence and apply it to your talent network so you can acquire a bigger pool of candidates. Another huge benefit is that it doesn’t matter whether they’re using a desktop or mobile device — our technology allows candidates, wherever they are, to join your talent pipeline in just two clicks. By making it easy for candidates to join, you’re not only expanding your volume of candidates, but you will also be reaching and attracting new candidates you may not otherwise have access to.
5 things that make talent network members so valuable:
1. Consider them a new candidate pool. Think of your members as individuals you may not have been able to capture without the Talent Network exposure.
2. They are more engaged. Thanks to our re-engagement technology, you don’t have to do any extra work — just sit back and watch as branded messaging to Talent Network members keeps them more engaged with your company and your open opportunities.
3. They are a better fit. Don’t you want more relevant candidates looking for the types of job your company needs? With Talent Network, you will have candidates who are already familiar with your company and the types of open positions applying for jobs. Since you engage with them regularly via your Talent Network, they have a better understanding of what to expect from your company.
4. It will save you money. Think of how much you’ll save when you source from Talent Network members — a ready and engaged pool of candidates already at your fingertips — instead of having to post additional jobs and spend more budget.
5. It will save you time. Wouldn’t you like to have a searchable database of interested candidates at your fingertips? Tapping into your Talent Network ensures a quicker time-to-fill since you’ll be leveraging an existing talent pool instead of sourcing from scratch.
Premlesh Machama, MD, CareerBuilder India