In-demand talent are specialised, professional, and career orientated. They are software engineers, data scientists, cloud architects, optometrists, project managers, sales specialists and many other specialists whose skills are in high demand but short supply. Every company wants to hire them, but they aren’t on CV databases, they aren’t looking at job adverts, they’re ghosting LinkedIn, they don’t see job postings and they frequently ghost employers, abandoning conversations or applications midway through.
For them, any career move is a “considered decision” and they can spend up to six months researching potential employers across at least 16 different touchpoints before deciding to make a move.
The traditional recruitment approach and tools for hiring in-demand talent don’t work because these in-demand candidates’ behaviour is more akin to business-to-business buyers than consumers. Put simply, they don’t see job adverts and then decide to apply.
Previously, businesses have not had to plan for hiring the numbers of those with specialist skills and experience to anything like the extent they require today – and they’ve never had to spend so much money doing it. Talent is in short supply and competition is fierce. With in-demand talent it’s critically important to continually reassess your approach to stay ahead of competition by engaging top talent before reqs go live, and knowing exactly when to connect and reconnect.
When demand outweighs supply, it’s time to get creative, because the traditional recruitment approaches simply don’t cut it anymore. In the next decade, the world will face an unprecedented talent shortage as a result of a mismatch between business needs and available skills.
The Way Forward
When demand outweighs supply, to get ahead of the competition you must engage with top talent before you’re ready to hire them, nurturing a burgeoning relationship and delivering differentiated experiences. The traditional source-to-hire approach using job advertising, job boards and social media outreach to fill a short, transactional recruiting funnel couldn’t be more wrong. Much better to go in the other direction and build smaller, better targeted and better-qualified and dynamic candidate pipelines that you can hire from as soon as reqs go live, improving the yield and speed.
Every candidate costs you money. Collecting lots of candidates in a broadly static CRM-style talent pool means that a great many of them won’t fit the job or your company, so you have to rely on the selection process to weed them out, which takes time and is expensive.
Most organisations already have lots of the talent they need in their existing ATS database. The problem is they can’t identify who is a good fit because the data is out of date, and they can’t tell who is interested and who is not.
Hiring Talent with Specialist Skills or Knowledge
When the goal is to get better hires in a quick and cost-effective manner, use this 9-step approach:
- Don’t collect masses of candidates in a broad talent pool.
- Create tighter, much better-qualified candidate pipelines to improve the yield.
- Use the data you already have in the ATS/CRM – once it’s refreshed it is a talent goldmine.
- Lead with value – offering content that helps candidates improve their skills or knowledge drives most engagement, so make sure it’s related to the roles for which you are hiring.
- Use technology that enables you to see which candidates are engaging with you – and how they are engaging ahead of any reach out.
- Use automated engagement scoring to prioritise the best-fit candidates that need follow up right now, and then manage the ongoing pipeline.
- Use automation to streamline candidate communications and workflows by automating all the repetitive manual engagement tasks.
- Focus on keeping, reusing and leveraging all of the candidates and experience gained from each hire in a closed system loop. Every engagement is meaningful, and no candidates or information go to waste.
- Use this ‘virtuous circle’ approach that focuses on ongoing relationship building, so you don’t have to start hiring from scratch every time.
Across the last decade, creating effective talent pipelines has remained a top priority for talent acquisition leaders. This remains an unfulfilled objective because there are really only two ways to create talent pipelines:
Recruiters regularly contact their candidate lists to find out about each person’s circumstances. This isn’t sustainable. Recruiters often have 40 open requisitions and making contact with individuals to keep in touch is time-consuming. Even if you only have 100 candidates on your list and you manage to talk to five a day, you’ll need a full month to get through them. By the time you’ve got through them, many will have changed circumstances and you will have to start again from scratch.
Most people aren’t in the market for opportunities today, so you need to nurture them until they are ‘hire-ready’ – that is, until they are up for a conversation with a human recruiter. Do this using marketing automation and your recruiters will spend all of their time talking to candidates who are a great fit and want to work for you. Do this and you’re eliminating cold contact with candidates, which is the most wasteful activity in recruitment quality conversations with ‘hire-ready’ candidates.
Technology for Effective Talent Pipelining
Marketing Automation is feature-rich software that drives faster and better hiring by helping employers automate all the repetitive manual tasks and workflows for engaging candidates. At the same time as matching skills, plus tracking and scoring candidate interactions to serve up daily hot leads directly to recruiter inboxes – making them 2x more productive, it reduces time-to-offer by 50% and cost-per-hire by 40%.
If you would like to learn more about hiring in-demand talent, why not download your free copy of our latest eBook.