It’s a lot of pressure to find the right candidate at the right time. And, when a bear market causes you to be short on resources and flooded with candidates, it’s even more difficult. 

Developing a strategy to build your talent pipeline may seem like the least of your worries when you’re struggling to wade through candidates. However, a strong talent pipeline can significantly reduce your workload, increase access to top talent, and improve time-to-hire.

1. Map your talent cycles 

The best way to avoid getting caught behind the eight ball when it’s time for recruiting is to map talent cycles proactively. A talent map is a way for organizations to forecast talent needs so they can plan and start sourcing candidates early. 

When you anticipate talent cycles, it prevents your recruiting efforts from getting thrown off by every job requisition request because your talent pipeline will be built to weather the waves. 

Identifying talent cycles requires combining industry knowledge, data analysis, and strategic thinking. To map your talent cycles:

• Identify industry trends that will impact hiring by analyzing market data and staying connected with industry networks.

• Forecast employee turnover by tracking employee retention rates.

• Establish succession planning by tracking employee tenure and development.

• Anticipate future talent needs by matching the projected growth and goals of the organization with your current talent to uncover skill gaps and production capacity.

Mapping talent cycles in this way will provide insights into your organization’s strengths, weaknesses, and potential for growth when it comes to talent acquisition. Once you’ve mapped your talent cycles, it’s time to dig into who the ideal candidate would be for each role you’ve identified as a current or future need.

2. Define your Ideal Candidate Profile (ICP)

Job descriptions are not something you should copy and paste. Each organization has unique needs — even if a job title is the same — so it’s important to define who an ideal candidate is for your organization, specifically. Defining your ideal candidate profile (ICP) early in the process will give clarity and internal alignment as you build a talent pipeline.

Sit down with your department leads and create ICP personas that define the skills and qualities needed for the position to guide your sourcing efforts. 

Ask your hiring teams:

• What qualities or skills do your best employees share?

• What skill gaps do you see that hold your team back from taking your product to the next level?

• What (if any) industry trends do you anticipate competing against in the next year, and will you need rapid R&D to do so?

• What are the top three challenges your team faces right now, and what skills does your team need to solve them?

Aligning with cross-functional teams on what their specific needs are in this way will help you build a pipeline full of not just technically qualified talent but uniquely qualified talent.

3. Source passive candidates

Now you have your talent map and candidate personas to guide you, it’s time to start your search! Sourcing often gets lumped together with recruiting, but each serves distinct functions and requires unique strategies. 

Sourcing builds a supporting pool of vetted candidates for your recruiting efforts, so you don’t have to start from scratch to fill each role when it comes time to hire. At its core, sourcing focuses on connecting with passive candidates, who make up 70% of the global workforce, according to LinkedIn Talent Solutions.

Passive candidates are not actively looking for a new role, so it’s essential to proactively build a relationship with them in preparation for when the right role opens up. Without the relationships built through sourcing, you could miss out on a huge pool of potential candidates who would not apply for a position otherwise.

A strong sourcing strategy requires:

• Researching what qualities top-tier talent have (i.e., experience, skillset, certifications) and which organizations they’re associated with (both employers and institutions) 

• Networking within your industry to connect with potential candidates and build your employer brand 

• Building an internal referral network by reaching out to existing employees to share their professional connections with prospective candidates 

• Vetting potential talent by comparing their professional profiles to your ICP and conducting initial screenings

Investing in sourcing must be a priority to build a sustainable talent pipeline and, ultimately, better hiring outcomes.

4. Create a candidate engagement strategy

Nurturing candidate relationships is vital to maintaining the work you’ve done during sourcing. And don’t just leave it to chance! Candidates who feel engaged are more likely to consider a job opportunity with your organization, even if they are not currently looking for a job, so make a plan to connect with them regularly.

To effectively engage with your talent pipeline: 

• Define your employer brand by asking yourself what you want candidates to remember about your company and your unique value proposition (UVP) for potential candidates.

• Develop consistent messaging that reflects your employer brand and resonates with your ICP.

• Create a candidate-centric experience that provides regular feedback and updates about the candidate’s status in the pipeline.

Creating a strong candidate engagement plan can build a positive reputation with prospects, establish trust with potential candidates, and ensure a smoother hiring process for everyone involved.

Amplify your reach with AI

You may be thinking, “This all sounds great in theory, but when will I find the time for this?” The key is leveraging automation to reduce busy work and amplify your reach. With the right tools, you can automate time-consuming tasks like resume screening, scheduling interviews, and sending follow-up emails. The right tool will help you streamline your hiring process, reduce errors, and save time for your hiring team.

Covey Scout is the AI tool built just for recruiters that:

• Amplifies your reach by using AI to source candidates

• Automates personalized drip campaigns to keep candidates active and engaged

• Sends only the most qualified candidates directly to your inbox. 

And just like that, you’ve built a full talent pipeline simply by telling a bot your ICP. Check it out for yourself — book a demo today.