Are you maximising your candidate database?
One of the age old challenges for internal recruitment teams is what to do with the mountain of CVs that come in over the years from direct emails, advertisement responses and referral campaigns. Usually, once the initial advertising or recruitment drive is completed, the vast majority of these candidates seem to disappear into the proverbial 'black-hole'.
The same happens with the day-to-day recruitment process for current vacancies: take a job brief from a manager, advertise on tried and trusted channels, review candidates, shortlist, interview and offer. Once the successful candidates are identified, the rest are discarded.
The next time that manager requires a new resource, the recruitment cycle begins again. Once again, a wealth of candidates are discarded along the way.
This, by and large, is a failing on the part of the traditional applicant tracking/vendor management (ATS/VMS) system. This is because these systems exist purely to track the approval, fulfillment and completion of open vacancies. In many ATS/VMS systems, these discarded candidates are stored, but their whereabouts is unknown. The key is to find the correct way to harness these candidates and use them again, but why?
- Save money
Sourcing candidates can be costly. Often, the same candidates will re-apply to your advertisements or could be resubmitted by agencies. A quick search of your existing talent pool is a big potential cost saver.
- Shortlist candidates faster
Having direct access to a talent pool allows a recruiter to very quickly review candidates that applied for similar positions in the past and present an initial shortlist to the hiring manager. This is great for keeping the hiring manager engaged as they are already reviewing candidates while the recruiter is looking at external channels.
- Promote candidates
Often, an open position and an available top quality candidate don't come around at the same time. Using a candidate database allows you to properly manage the star candidates and present them to various hiring managers. This creates the opportunity to create a position for the candidate, rather than the other way around. The overriding benefit here is ensuring that your company finds a way to employ top talent and not let them slip by.
- Market mapping
Do you know who is working at key positions at your competitors? When you receive candidates for positions, chances are many of them are working in your industry and for your competitors. Using a tool to map these candidates into a corporate structure will help you to see who is doing what at competitor organisations and a good recruiter will use that information to fill in the gaps.
Many companies are now seeing the value of managing their candidate database, and there are plenty of new technologies that assist with talent pool management. The time is now to recruit smarter and get to know who you already know.
- Ian Blake, Business Systems Manager APAC, Resource Solutions
Our technology, talentsource, is an industry-leading recruitment support system. It is modular, web-based and provides end-to-end talent tracking for our clients. Looking into a new vendor management system for your business? Contact us.