In yesterday’s Advisor, we talked about the idea of using a talent relationship management (TRM) program or system to assist with the entire recruiting process. TRM can be utilized not just to hire but also to maintain contact with and expand the long-term talent pipeline. We started to outline some of the many things TRM can do, and today we’re going to continue with that list.
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TRM is a way to (continued):
- Assess where you’re losing potential job applicants, and perhaps modify the process.
- Analyze how diverse your candidate pool is, which can allow you to be proactive if changes are needed.
- Analyze other demographic and/or skill sets of the talent pipeline.
- Store candidate contact details and search for them later.
- Remain in contact with candidates who were not selected for a specific role; these individuals may be great future candidates for other roles if the relationship is maintained.
- Integrate social media communications with the rest of your hiring communications.
- Keep candidates interested, even when you’re not able to offer them something immediately—thus, keeping communications open with top talent until you can make an offer.
- Show that the organization doesn’t just forget about talent; it’s always in contact (and don’t become the type of organization that never replies to applicants who are not selected).
Beyond using TRM for external talent sourcing, it could also be used internally. Let’s take a look.
How to Use TRM Internally
TRM can be use internally to:
- See both internal and external candidate information in one place.
- Combine the TRM information with your other HR systems to create a comprehensive database of available talent, including your existing employees who may be able to move into new roles in the future.
- Improve retention by using TRM to assist in employee development.
- Stay in contact with former employees who may be good candidates available to rehire in the future.
- Help maintain good relationships with employees, reducing the chances another organization will be able to entice them away.
- Get referrals from current employees.
- Communicate about job openings within the organization.
- Provide advancement options for employees who may otherwise be considering leaving.
- Assist with succession planning efforts within the organization.
As the market for talent becomes more and more competitive and top talent becomes scarcer, it will become more critical that organizations have a talent pipeline and are being proactive at maintaining relationships with potential candidates. This could make a big difference in the ability to source good candidates in the future. This can be especially relevant for key positions—ones that may take months or even years of interactions with a candidate before they’re ready to work for you or before you’re able to extend an offer, such as executive roles. Using TRM is a more strategic way to source talent and is well suited for hard-to-fill positions and retaining key individuals.