Introduction
The talent pipeline is then ongoing need in an organization for a pool of talent that is not only skilled but also read to fill vacant positions in all levels of management. The talent pipeline is the lifeline of an organization that aspires to compete favorably now and the future.
Discussion
The talent pipeline offers the best candidates to organizations. The talent pipeline entails a database of potential candidates who are interested, are qualified for various positions in an organization. By creating a talent pipeline, the organization ensures that it has the most qualified and higher caliber job seekers ready to join the organization. As such, organizations that want to hire do not have to wait for applications to flow in for review. They have qualified candidate who are ready to join the organization whenever a vacancy arises. This additionally reduces the time, business disruption, recruitment costs and competition for higher caliber employees from other business competitors (Michaels, Handfield-Jones & Axelrod, 2001).
Accessing the talent pipeline in the business industry is very important. The first step is determining the future hiring needs for any organization in the industry. Once this is established, building channels is the next thing. These help develop viable candidate pools for any potential openings. While doing this, it is important to focus on diversity. To enable this, making connections and building relationships has proven helpful. Through this, referrals can be made to the organization’s talent pool. Of importancse is to ensure that accessing the talent pipeline is an organization-wide effort. All the departments need to be involved so that talent pipeline reflects the needs of the entire organization (Goldsmith, Carter & Best Practice Institute, 2009).
Owing to the changing demographics of job seekers, changes in the talent pipeline are in order so that it can meet the future needs o employers. Currently, employers are faced with the challenge of retaining their higher performers. This is especially the case during times of organizational and economic changes. Changing the strategy in the talent pipeline will allow organizations to capture talent from their competitors. Such changes include aligning the talent pipeline to incorporate the passive job seekers migrating from the competitors (Schumann & Sartain, 2009).
Conclusion
The talent pipeline is the fodder upon which the organizations of the future feed. The talent pipeline ensures that their hiring needs are met ahead of those of their competitors, shave off the recruitment costs and acquire higher caliber employees.
References
Goldsmith, Marshall, Carter, Louis, & Best Practice Institute. (2009). Best Practices in Talent Management: How the World's Leading Corporations Manage, Develop, and Retain Top Talent, Epub Edition. Pfeiffer & Co.
Michaels, E., Handfield-Jones, H., & Axelrod, B. (2001). The war for talent. Boston, Mass: Harvard Business School.
Schumann, Mark, & Sartain, Libby. (2009). Brand for Talent: Eight Essentials to Make Your Talent As Famous As Your Brand: Epub Edition. John Wiley & Sons Inc.
