The UK is going through a period of profound change and uncertainty. Looming Brexit deadlines, sweeping changes to workers’ rights and economic uncertainty brought about by the coronavirus mean that recruiters and hiring managers need to stay on their toes.

Amid all this change, which are going to be the fastest-growing UK recruitment sectors in 2020? It’s a tough question to answer, but we’re going to dig into the numbers to paint a clearer picture so that you can prepare and plan as effectively as possible.

The Fastest-Growing UK Recruitment Sectors

Here’s a look at the critical recruitment areas in the UK that will see significant growth over the course of 2020:

IT and Digital

The UK tech sector is flourishing: investments in the UK tech sector soared to £10.1 billion in 2019 – a £3.1 billion increase in 2018’s strong figures.

Those figures mean that UK tech companies secured a third of all VC investment made in Europe last year. That impressive statistic cements the UK as a global player, and it only sits behind the US and China when it comes to total VC funding received last year.

According to Digital Minister Matt Warman, this success is testament to the UK’s “business-friendly environment, talented workforce and longstanding reputation for innovation.”

Figures from Tech Nation reveal that over 2.1 million people were working in tech in 2018, meaning that the tech industry is a more significant employer than other key sectors like hospitality, construction and financial services.

All of this means that we’ll see the demand for talented tech professionals extend way into 2020. Recruiters and hiring managers will have a tough time battling it out for the best talent until the skill shortage is addressed.

Healthcare

There are over 5,600 life science companies active in Britain, and they work incredibly hard to manufacture and market-leading clinical products and pharmaceuticals. The UK healthcare industry is only behind the US in terms of size.

An impressive one-fifth of the British workforce is currently employed in STEM-based careers, and this makes Britain the most knowledge-intensive nation in the G20 when it comes to matters of science. This strong reputation means that the UK has one of the most robust healthcare industries and most experienced workforces.

A recent UK private healthcare market report suggested that the market is estimated to grow at a rate of 2.6% by 2023. This growth has been attributed to longer NHS waiting times, referrals to the private sector and increasing uncertainty about the future of the NHS.

The UK’s strong healthcare industry and growing demand for private healthcare could result in significant hiring initiatives over the course of 2020.

Construction

The new Conservative government has promised increased expenditure in critical areas like housing, health and major civil engineering projects. This could mean that there are lots of exciting upcoming opportunities within the construction industry. Numbers from the Office for National Statistics indicate that construction work is on the rise.

The Thames Tideway and Hinkley Point projects are two significant ongoing initiatives that continue to create vacancies, for instance, while a range of additional ambitious infrastructure projects has been given the green light.

Some analysts also believe that the HS2 project will be approved this year, joining a host of ambitious rail and highway projects. Those will generate a significant number of vacancies while the government’s pledge to build 300,000 homes each year over the coming years will lead to new opportunities.

The outlook for the UK construction industry is very positive, and as such, we’ll be sure to see lots of demand for trained professionals at all levels of seniority.

Prepare for the Future with These Resources

Do you have significant talent needs to address this year? It’s critical that you capitalise on every opportunity to find the right talent; here are three useful resources that can help you to acquire the best talent over the course of the year:

Use These Steps to Secure Talent Acquisition Success in 2020

In this piece, we take you through some of the key techniques and strategies that you can use to put yourself ahead of the competition and find the best talent in 2020.

Explore these unmissable talent acquisition steps.

Half of All Employees Want Flexible Working in 2020

Flexible working is going to define the world of work in 2020 – are you prepared to deliver on your candidate preferences and unlock the benefits of flexible working?

Learn what you stand to gain by offering flexible working.

Five Unmissable 2020 Talent Acquisition Trends

There are five unique talent acquisition trends that you can capitalise on this year to get the best results.

Stay on top of these five critical 2020 acquisition trends.

Closing Thoughts

We hope that this post has given you some interesting food for thought, and we’d love to hear your ideas about what to expect from UK recruitment over the course of 2020.

If you’re planning a big recruitment drive in 2020, you should be sure to learn more about Elevate and how our AI-driven platform can empower you to move fast and recruit now.

These are challenging times for charities in the UK. While the need for their services is rising dramatically, only 18% of charitable organisations have the appropriate resources and tools to meet that demand.

This challenge is being compounded by the fact that the long-term impacts of Brexit have yet to manifest, the proportion of people giving money to charity saw a steady decline between 2016 and 2018 (69% to 65%) and budgets continue to tighten.

Among other challenges, this blend of factors means that many charities are understaffed. 88% of local charities have fewer than five full-time employees, while 55% have no full-time employees at all.

Could the development and adoption of AI-driven recruitment technologies help UK charities to unlock new efficiencies and address their staffing challenge?

Let’s take a look at what these AI-driven platforms can achieve and how they might benefit UK charities.

What Are AI-Driven Recruitment Platforms?

These powerful nascent platforms can automate critical recruitment tasks, such as:

  • Talent sourcing
  • CV screening
  • Candidate outreach
  • Candidate qualification

By helping with such tasks, those platforms can elevate hiring results and make hiring managers much more efficient.

Those platforms are growing in prominence, too: an impressive 96% of senior HR professionals believe that AI has the potential to enhance talent acquisition and retention significantly. In comparison, 55% of HR managers see evidence of AI becoming a regular part of HR within the next five years.

How AI-Driven Recruitment Will Benefit Charities

Here’s how we will see UK charities make the most of these platforms:

1. Reduce recruitment costs

According to findings from Glassdoor, the average cost of recruitment for a new employee in the UK is £3,000. That’s a significant amount of money for any private sector organisation, let alone a public sector charity.

In trying times, it’s critical that UK charities work as efficiently as possible and leverage new technologies to reduce that cost.

AI-driven recruitment tools are a great opportunity from this perspective.

These recruitment tools can help hiring managers within charities to automate critical tasks, unlock new efficiencies and find talent quicker. Using an AI-driven tool, for instance, hiring managers within charities will be able to access a wider pool of talent and sort through it much faster.

Those types of features can help drive down steep recruitment costs and protect the budgets of cash-strapped charities.

2. Free up valuable time

As we touched on earlier, charities often have very small teams. This means that multidisciplinary team members will usually wear several different hats – recruitment and hiring might prove to be a distraction from other more primary work.

AI-driven recruitment tools are going to liberate the time of charity workers, who’ll be better able to focus their attention on other areas. With more time on their hands, charity workers will be able to focus on crucial areas like fundraising and essential administrative tasks.

As AI-driven recruitment tools continue to mature, we’ll be sure to see teams within charities do great things with their newfound time.

3. Slash time-to-hire

The average time to hire in the UK lasts 26.8 working days. This is often longer within the public sector, too, owing to a lack of candidates and resources.

This presence of unfilled roles can negatively affect charities, given that it can cause significant operational challenges. Without the right team members, charities find it difficult to operate and place a considerable strain on existing team members.

AI-driven recruitment tools can help to expedite the time to hire, though, and give charities the power to find the right candidates within a reasonable timeframe.

4. Uncover appropriate candidates

It’s critical that charities are able to attract the right talent. Potential team members need to exhibit desirable personality and character traits that will set them up for success within a charity environment.

The process of finding sourcing those candidates according to those factors is never easy, however. It takes a lot of time and effort, which results in more expensive hires and a protracted sourcing period.

AI-driven tools are giving hiring managers new ways to sort and select their talent. These new functionalities can provide hiring managers within charities the ability to sort talent and source the perfect candidates to fill their essential roles.

Closing Thoughts

We’ll be sure to see AI-driven recruitment platforms mature over the coming years, and we’re very excited about how their application might benefit the many hard-working charities in the UK.

Here at Elevate, we’re delighted to play a part in discovering the potential of AI-driven recruitment technology. We look forward to helping charities across the UK and beyond unlock all of the benefits outlined above.

The overwhelming majority of recruiters and hiring managers agree that the recruiting landscape is more competitive than ever before.

Over the course of 2020, we’ll see the talent war intensify. Are you ready to abandon outdated practices, get creative and pull out all the stops to beat your competition to the best talent?

You’ll need to use cutting-edge techniques and strategies if you’re going to succeed.

Talent Acquisition Techniques for 2020

Let’s dig deeper into key techniques and strategies that you can use over the course of 2020 to get the best talent, slash your time to hire and reduce your talent acquisition costs.

Automate tasks to free up your time

2020 is the year to abandon manual processes using automation. This can help you to save time and even eliminate the potential for human error.

Here are three areas you can automate everyday talent acquisition tasks in 2020:

Schedule messages

In an underskilled landscape, the power now lies with skilled candidates who can take their pick of suitors. To put yourself at the top of their list and build a healthy relationship, you’ll want to develop an engagement strategy.

There are several email and messaging automation tools out there that you can use to automate communications. You could use those tools to send out a candidate newsletter, for instance, or divide your candidates into mailing lists according to department and supply them with relevant content.

Qualify using chatbots

Chatbots are very popular in the worlds of marketing and customer support, with an impressive 1.4 billion people using chatbots regularly.

It would help if you considered leveraging the power of those chatbots in the recruitment space, too. You could quickly spin up a chatbot solution to offer 24/7 guidance to your candidates and pre-qualify them.

Chatbots can easily collect core information and then automatically add them into your chosen Applicant Tracking System.

Organise meetings

Scheduling meetings is a tough task that takes up an unreasonable amount of time for lots of recruiters and hiring managers. There are lots of meeting scheduler tools out there that make it easy for other people to book meetings with you and sync those with your calendar.

Polish your employer brand

By now, 59% of recruiting leaders worldwide are investing more in their employer brand. Are you among them? A strong employer brand makes it easier for you to attract the best talent, and it can cut your time to hire.

Audit your reviews

The first step to reinvigorate your employer brand is to perform a preliminary audit. During this audit, you should go through your employer reviews on platforms like Glassdoor and Trustpilot.

Use those reviews as an opportunity to glean valuable insights and focus your efforts to develop a concerted strategy to improve those reviews.

Engage your employees as brand advocates

You might also want to engage your existing employees as brand advocates. You could ask them to leave reviews, for instance, or encourage them to refer their connections and network to your business.

Some businesses develop an influential company culture and an attractive referral system to make this step a reality – could 2020 be the year for you to join them?

Collect and leverage quality data

Each day, an estimated 1.7MB of data is created every second for every person on earth – it’s essential that you make the most of the data that you generate to give your business the competitive edge. Here’s how you can do that.

Record important candidate data

First things first, it’s crucial that you collect the appropriate data about your candidates and their experiences. You’ll want to use a range of software to track essential data, like your ATS and Google Analytics.

You should try to track common metrics such as:

  • Time-to-hire
  • Source of hire
  • Candidate feedback
  • Acceptance rates
  • Cost-per-hire

Dig into your data

Once you’ve collected the appropriate data, it’s vital that you sort through it to uncover essential insights.

You might be able to learn why your time-to-hire is so long, for instance, or which parts of the talent acquisition process you can expedite. Call upon marketing to get help sorting through Google Analytics, too, to understand better where your candidates come from and the path that they take through your website.

Use AI to assist with sourcing

AI sourcing gives recruiters the ability to sort through immense troves of data and collect valuable insights. This can help recruiters and hiring managers to find the perfect talent for their role and make the right decisions.

Not only does AI sourcing improve the quality of candidates, but it can also save significant amounts of time and give businesses the ability to cut their cost-of-hire.

Use Elevate

Elevate empowers some of the world’s leading talent acquisition teams to recruit faster and enjoy full visibility into the talent that they need. This helps those teams to spend more time focused on their recruiting strategy and candidate relationships.

If you’re ready to get started, book a demo to see Elevate in action today and speak with an expert.

Offer an unparalleled candidate experience

It’s more important than ever before that your potential candidates enjoy a seamless candidate experience. That means everything needs to flow smoothly together all the way from the job search and application process to the interview and onboarding.

Leverage programmatic job advertising

If you’re going to attract the best candidates, you’ve got to get your business and your role in front of them. To do this, you will want to consider leveraging the power of programmatic advertising. This can help you to purchase the right ads and get them in front of the right people at the right time without breaking the bank.

Use an ATS

An applicant tracking system can be used by recruiters to track and filter candidates. This makes it easier for recruiters to monitor the candidate as they pass through the hiring flow and collect essential data along the way.

Leverage marketing resources

It’s essential that you engage your candidates and build a relationship with them over time. To do this, you might want to repurpose your marketing content. If your marketing department maintains a blog, why not send essential pieces to your candidates on a regular basis?

This strategy could inspire your candidates to make an application, and your marketing team will be sure to appreciate the additional traffic that you generate for them.

Additional Resources to Prepare for 2020

We hope that those techniques help you to secure talent acquisition success this year. If you’re going to get the best results possible, it’s always essential to understand the industry and broader trends.

Here are four additional resources that you can use to better prepare for talent acquisition in 2020.

Why offer flexible working

Do you know that flexibility is the most in-demand perk for employees today? If you’re going to beat your competition to the best talent this year, you’ll need to develop your flexible working offering. There are also a number of potent benefits for your business, too.

Read our piece to learn more about the benefits of flexible working.

How to maintain a healthy talent pool

The typical hiring process is very long, and it can harm the productivity of your business while generating high costs. Talent pools are a powerful resource to ameliorate the hiring process.

Discover the benefits of talent pools and discover four actionable tips to maintain healthy talent pools.

What to expect from AI sourcing

Boolean searches are challenging to master, more complex to execute, and they return a more limited set of results. AI sourcing is here to take over and deliver superior results for recruiters and hiring managers.

Get to grips with the five key reasons AI sourcing is going to replace Boolean sourcing.

Why agile talent is growing more popular

Agile talent is on the rise, and it’s becoming the go-to choice for businesses around the world. Do you understand the benefits of agile talent?

Read this piece to understand what agile talent can offer your business.

Have you noticed that two of the broadest and most common terms in our industry – “talent acquisition” and “recruiting” – are often used interchangeably?

Talent acquisition and recruitment are two very distinct ideas. They have never been more different, either, given that they are being driven even further apart by new technologies and trends.

That tendency to confuse the two terms can make it difficult for recruiters and hiring managers to work accurately and make the most of both concepts.

Let’s fix that.

How Are Talent Acquisition and Recruitment Different?

Here’s a closer look at the definition of these two terms:

Recruitment

Recruitment is more of an action that’s all about filling vacancies. Recruitment is the process of identifying a vacancy within a business and then setting the wheels in motion to source, interview and eventually hire the appropriate candidate.

This is most often a short-term tactic that’s focused around finding the right talent as quickly and as cost-efficiently as possible.

Talent Acquisition

If recruitment is a short-term action, talent acquisition can be seen as more of a long-term strategy: talent acquisition is about identifying specific talent requirements in advance and using cutting-edge techniques to make it as simple, effective and inexpensive as possible to find specific talent.

This means that talent acquisition can give companies the ability to find the perfect candidates for complex roles.

What Are the Advantages of Talent Acquisition?

Recruitment is perhaps what most people think of when they imagine the day-to-day reality of the recruitment industry. Talent acquisition is becoming increasingly important, though, given that talent scarcity and the competition for that talent is more fierce than ever before.

You can expect to unlock the following benefits if you decide to invest in your talent acquisition strategy:

Find niche talent

The global talent shortage is a real issue. In fact, a study from Korn Ferry found that by 2030 there will be a universal human talent shortage of 85 million people – roughly the population of Germany.

The dearth of skilled candidates will put lots of pressure on businesses to compete for the few qualified and experienced candidates out there. A robust talent acquisition strategy can help companies to identify vacancies earlier than competitors, and keep tabs on the appropriate candidates.

In a context where the fight for the best talent is more fierce than ever before, it’s little wonder that more businesses are trying to develop robust talent acquisition strategies.

Develop your employer brand

Strong employer branding can help businesses to stand out from the crowd to attract and retain the best employees. That’s why figures from LinkedIn show that 72% of recruiting leaders around the world agree that employer brand has a significant impact on hiring.

Talent acquisition forces businesses to think carefully about their employer brand and incorporate it into their strategy. The act of developing and executing a talent acquisition strategy can help businesses to build strong employer brands that give them the edge over their competition.

Bring the talent to you

There are a number of figures around that try to define the average cost per hire in the UK. According to the HR review, that figure stands at around £30,614 per employee when accounting for the cost of lost output too.

A robust talent acquisition strategy can help you to slash those costs by bringing the talent to you. This can make the hiring process cheaper and faster. Those applicants are often very enthusiastic about your business, and they’ll become top performers for your company, too.

Key Talent Acquisition Trends for 2020

Talent acquisition is continually evolving. Here are the latest trends that are shaping talent acquisition strategies around the world.

AI-driven technology is growing in power – and popularity

Today, AI is helping recruiters around the world to execute ambitious talent acquisition strategies. According to LinkedIn, AI is helping recruiters and hiring managers save time (67%), remove human bias (43%) and deliver the best candidate matches (31%).

Over the course of 2020, we’ll see nascent AI platforms further augment the capabilities of recruiters and hiring managers.

Predictive analytics is starting to uncover talent needs

Sophisticated tools and platforms are now able to use troves of historical data to make accurate predictions about the future talent needs of organisations. Businesses around the world are making the most of these tools to inform their talent acquisition strategy.

This can help to expedite the hiring process and – paired with powerful AI-driven talent acquisition platforms like Elevate – give businesses the best chance of sourcing the right talent.

Teams are using AI to tackle unconscious bias

A number of studies have shone a light on the benefits of a diverse workforce. Those teams are often happier, more productive and more innovative.

Unconscious bias is sometimes a barrier to cultivating a genuinely diverse workplace; however this is why recruiters and hiring managers around the world are using AI-driven talent acquisition tools to fight against bias and discrimination.

These AI technologies are helping to surface the best candidates for the role, and they can empower businesses to engage in blind hiring.

Acquire the Right Talent with Elevate

Elevate offers an AI-driven platform that empowers talent acquisition teams to augment their abilities and bring out their full potential. Learn more about Elevate and how you can leverage our platform to move fast and recruit the talent you need.

If you’re going to attract the best talent, you’ve got to monitor and meet the evolving needs of the workforce. That’s no easy task, though, given that the appetites and expectations of today’s workforce are changing rapidly.

Of all the perks you can offer – such as a diverse workplace and professional training – workplace flexibility has cemented itself as the most desirable among today’s workforce.

An Ernst & Young global survey discovered that more flexibility was the most crucial perk for 9,700 young respondents. Likewise, a 2018 Deloitte survey of 10,000 respondents revealed that a lack of workplace flexibility is the main reason millennials quit their job.

Let’s take a closer look at flexible working to help you develop your approach.

In this post, we’ll cover:

  • What flexible working means,
  • Why the demand for workplace flexibility is rising, and
  • Why you should consider offering it.

What Is Flexible Working?

Flexible working is a way of working that suits an employee’s needs.

With flexible working in place, employees can choose things like their schedule and whether or not they would like to work for home. Those employees use that additional flexibility and autonomy to enjoy a better work-life balance.

Many governments around the world are in the process of adjusting their labour laws and regulations to accommodate flexible working. In the UK, for instance, employees have a legal right to request flexible working from their employers.

Upon receiving that request, employers should handle it in a “reasonable manner”. This means that they should assess the viability of the application, organise a meeting with the employee and also offer an appeal process.

Why the Demand for Flexible Work is Rising

Today’s world is hectic and fast-paced. The pervasive reach of the internet also means that workers often have 24/7 connectivity to their workplace.

This new reality means that a healthy work-life balance has been disrupted. According to statistics from RescueTime, 26% of work is done outside of regular working hours. Meanwhile, another survey found that 33% of salaried workers in the US have to work on the weekend.

This dynamic isn’t sustainable, of course. The constant pressure can cause employees to develop a number of issues, including:

  • Fatigue
  • General unhappiness
  • Irritability
  • Depression
  • Anxiety
  • Heart disease
  • High blood pressure

This is why a number of workers around the world are turning to flexible work to restore a viable work-life balance.

Why Offer Flexible Working

Some employers find that they are nervous about offering flexible working to their employees. That’s not necessary, though, given that employers can also benefit from offering flexible working.

Here are the main benefits of flexible working for employers:

  1. Reduce the risk of burnout

Burnout is caused by periods of prolonged stress and its characterised by emotional, physical and mental exhaustion. Burnout is on the rise in modern workplaces, given its hectic nature.

The human cost of burnout is awful, of course, and it can also eat into the profits of businesses. Employees with burnout lead to higher staff turnover rates, lost revenue, and the potential for expensive errors.

Flexible working can help your team members to manage their workload better and strike a more fulfilling work-life balance.

  1. A more productive workforce

Several studies suggest flexible working can help employees to boost their productivity. A recent report from HSBC discovered that 85% of respondents say flexible working gives them the motivation to improve their productivity, for instance.

If you offer flexible working options to your team members, there’s a good chance that you’ll see their productivity improve.

  1. Boost staff morale

Long hours and a lack of autonomy can cause your employees to feel undervalued and frustrated. Flexible working can help your employees to feel happier and more in control, though, which can boost their morale.

Higher morale can unlock several benefits for your business. You’ll find that your employees will elevate their productivity, produce better work and improve their attendance, for instance.

  1. Boost your employer brand

It’s more complicated than ever before for businesses to find the right talent. Not only is that talent scarce, but there’s also fierce competition between companies to secure the best candidates.

The more perks that you can offer, the easier you’ll find it to beat the competition to the best talent. Flexible working has been highlighted as important to today’s candidates: offer it and you’ll be sure to attract the best.

Leverage Your Employer Brand with Elevate

With your employer brand in check, you’ll be able to find the best candidates. Learn more about Elevate and how our platform can provide you with immediate visibility to the talent you need.

In today’s recruitment landscape, the power lies with candidates rather than employers.

This means that candidates with the appropriate skills and experience can afford to be highly critical of your offering. With so many potential opportunities out there, they can scrutinise your employer brand and recruitment process at their will.

This dynamic makes talent more mobile than ever before, too: a white paper from LaSalle Network found that three out of four millennials are open to finding a new job.

Recruiters must adjust their strategies and techniques to this new dynamic if they’re going to attract the best talent.

This means reassessing your attitude towards boomerang employees.

What Are Boomerang Employees?

Boomerang employees are those team members who decide to leave a company but return at some point in the future.

As we all know, there are several reasons that an employee might decide to leave a business. Some of the main reasons include:

  • Looking for new professional experiences
  • Pursuing better benefits
  • Dissatisfaction with their job
  • Changes to personal circumstances

Those employees might look for greener pastures, but never actually find them. In some cases, those employees might decide to return to their previous employer – that’s when they become a boomerang employee.

In The Corporate Culture and Boomerang Employee Study, Workplace Trends found that 15% of employees have returned to a former employer.

Why Hire a Boomerang Employee

As the workforce grows more mobile and receptive to new opportunities, we’ll see a growth in the number of boomerang employees.

The same study from Workplace Trends found that 76% of HR professionals are more accepting of boomerang employees today when compared to the past.

Here are the main reasons you’ll want to consider hiring a boomerang employee:

A proven cultural fit

A study from Leadership IQ found that 46% of new hires will fail within the 18 months. Of that 46%, a shocking 89% are deemed to fail because of difficulties integrating into the workplace and its culture.

That can increase your employee turnover rate and push your recruitment costs sky high. If you hire a boomerang employee, though, you can rest assured that they’re a great cultural fit and that they’re familiar with your unique culture.

A lower cost per hire

According to the Society for Human Resource Management (SHRM), the average cost per hire in the UK is placed at around £3,000. That’s a significant amount of money – mainly when you’ll almost inevitably lose a portion of that talent within the first 18 months.

If you maintain close contact with your alumni, you’ll be able to slash those costs. A well-maintained talent pool can give you access to the pre-approved talent that you need.

Curious about what talent pools can do for you? Read our piece on six reasons you should develop an alumni talent pool.

A lower time to hire

Every day that you have an empty vacancy will cost your business significant amounts of money. You might lack a salesperson, for instance, who would otherwise be contributing to your revenue.

This is why it’s critical that you reduce your time to hire. That’s easier said than done, though, given that it’s currently so difficult to find the appropriate talent. That difficulty protracts time to hire and costs your business money.

Boomerang employees can help here. Given that they’ll be pre-approved talent, you can often move them faster through the hiring process to reduce your time to hire.

Shorter onboarding times

Finding the right talent is just half of the battle: you’ve also got to train and onboard your new hires. This can be an expensive process, given that you’ll have to assign lots of administrative time and effort. New hires might also impact the productivity of your existing employees, too.

Those risks are mitigated when you decide to work with a boomerang employee, though. Your pre-approved talent will be able to hit the ground running immediately and start driving value from your business.

Benefit from new perspectives

Diverse workplaces are happier, more productive and more innovative. It’s crucial that you try to foster people from a range of different backgrounds – that includes professional experiences.

On their adventures, your boomerang employees might have picked up some valuable experiences and best practice along the way. You can incorporate the best parts of those experiences into your culture to reap the benefits of fresh input.

Boost your employer brand

According to LinkedIn, a staggering 75% of candidates will check out your company’s online presence before submitting an application. This means that they’ll inevitably check out your reviews on job boards like Glassdoor.

Re-hiring a boomerang employee can boost your employer brand. It demonstrates that your employees genuinely enjoy working for your business, and it also shows you value enduring relationships with your talent. Those are desirable factors to potential talent.

Monitor Your Boomerang Talent with Elevate

Are you ready to keep tabs on your alumni, attract boomerang talent and unlock the benefits above? Learn more about Elevate and how our platform can provide you with immediate visibility to the talent you need.

According to Glassdoor research, the average length of the UK hiring process sits at 27.9 days. This significant amount of time can harm the productivity of your business and hinder its ability to move forward.

There’s an ocean of potential talent out there, but the challenge of recruitment is fishing for the appropriate candidates and keeping tabs on them.

This is why talent pools are an invaluable resource.

In this post, we’ll take a look at what talent pools are and four actionable techniques that you can use to maintain a healthy talent pool.

What Is a Talent Pool?

A talent pool is a database of candidate profiles. This database gives recruiters and hiring managers the ability to keep track of crucial candidates over the long-term and access potential candidates instantly.

The most effective hiring managers and recruiters will diligently maintain those talent pools to add and remove candidates as necessary. They’ll also draw on candidates form their talent pool regularly.

For added convenience, the majority of hiring managers will maintain distinct talent pools which can further segment groups of candidates according to factors like their level of experience and overall suitability.

What Are the Benefits of a Talent Pool?

Here are the key reasons to create and maintain talent pools::

Better candidates

Any recruiter or hiring professional will understand how challenging it can be to find high-quality candidates for their roles. 76% of hiring managers told Glassdoor that attracting quality candidates is their number one challenge.

Talent pools can give you the edge. With a robust talent pool in your hands, you’ll find it easier to sort through pre-qualified candidates and have access to proven talent quicker.

Faster hires

When it comes to hiring candidates, it’s critical that you find the appropriate talent within a reasonable timeframe. Each day that you have a vacant position will result in losses for your business.

Talent pools can expedite the time to hire. You’ll be able to quickly browse through pre-qualified candidates as and when you need to. You might find the perfect candidate in your talent pool.

Reduced hiring costs

Making a new hire in the UK is expensive. On average, businesses can expect to pay around 20-30% of the final salary to recruitment agencies. This can harm the profitability of your business, and those costs can seriously mount up if you make multiple hires.

Equipped with a talent pool that’s overflowing with quality candidates, you’ll be able to make your selection and circumvent many of the traditional costs that come with recruitment.

Four Actionable Tips to Maintain a Healthy Talent Pool

Now that we have a better understanding of why to maintain a talent pool let’s explore five essential tips that you can use to establish and leverage your own.

1. Divide Your Talent Pools Using Candidate Personas

Candidate personas are a handy tool used by recruiters and hiring managers. Those semi-fictional personas make it easier to guide the hiring process and stay focused on finding the right talent.

Those candidate personas can also provide you with a logical and organic way to segment your talent pool. This exercise can make your talent pool even more convenient to navigate, and you’ll have the right talent just a few clicks away.

The details of this tip will vary from one business to the next, according to how you created your talent pool. For a rudimentary solution, you could divide an excel spreadsheet into tabs according to your key profiles.

Here’s a look at how that might appear:

2. Keep Track of Your Alumni

To get the best results from your talent pool, you should be sure to keep track of your alumni. There’s always a chance that your previous employees might be available to rejoin your business.

There are clear benefits to rehiring alumni: they will slot right into your company culture, for instance, and rehiring alumni can have a very positive impact on your employer brand.

To keep track of your alumni, you should be sure to keep their contact details on record and maintain regular contact with them. You might even decide to send a monthly newsletter to those alumni – this could keep them updated and help them to feel like a part of the family.

Interested in what this might look like? Take a look at this Alumni Newsletter example from Deloitte. You can see the type of content and tone that they use to re-engage their corporate alumni.

Ready to take a look at the additional benefits that come with a strong alumni talent pool? Read our piece on the six reasons you should develop an alumni talent pool.

3. Don’t Forget to Track Unsuccessful Candidates

According to numbers from Forbes, the average job will attract a staggering 118 applications. While you might need to hire just a single person for the role, you could have invited some very intriguing candidates.

It’s vital that you keep hold of them and retain their details. We all know that plans change quickly within the world of business and that it’s always useful to have a backup plan.

Re-engaging unsuccessful candidates is also great for your employer brand. Lots of hiring managers tell unsuccessful candidates that their contact information will be retained on record, but they fail to follow up. If you contact an unsuccessful candidate in the future, they’ll be sure to appreciate the gesture.

4. Use Your Talent Pool Regularly

The best way to maintain a healthy talent pool is to use it regularly. Far too often, hiring managers and recruiters neglect their talent pool and fail to exploit its full potential.

A lack of activity could mean that your talent pool becomes rusty and outdated very quickly. The longer you neglect, the greater the temptation will be to ignore it when trying to find a new candidate.

Try to incorporate your talent pool into your recruitment workflow to get the maximum value from it. Make it your first port of call after identifying a new position, and you might find the perfect candidate.

Cultivate Powerful Talent Pools with Elevate

If you are ready to create and maintain AI-driven talent pools, do so with Elevate’s leading Talent Intelligence platform today. Our solution provides you immediate visibility into your private talent pools while granting you access to the exclusive Elevate Directmarket.