In the competitive recruitment scenario, building a robust applicant pool is essential for making successful hires. But how do you build an applicant pool with quality candidates?
A report by SHRM shows that last year, over 75% of organizations encountered challenges in recruiting full-time employees, and nearly half have faced difficulties retaining them. The main challenges reported include fewer applicants, competition from other employers, and increased candidate “ghosting.”
By gradually fostering connections with potential candidates and sustaining a strong pool of applicants, you can establish a talent pipeline matching your organization’s goals and future requirements. This proactive method guarantees a readily accessible group of qualified employees, allowing you to swiftly respond to shifting market conditions or staffing needs.
What is an Applicant Pool?
The applicant pool is the group of individuals who have submitted their applications for a particular position within your company. This group consists of individuals with different skills and experience levels, including those who may be underqualified and competent candidates who are probable candidates for interviews.
The applicant pool size may vary based on factors such as the type of job, required experience, and your organization’s reputation.
Why a Well-Managed Applicant Pool Matters
Below are some essential advantages of having a solid applicant pool:
Reducing Costs and Time-to-Hire
Recruiting for extended periods can result in higher expenses. Having a cohort of pre-evaluated candidates allows you to fill vacant roles swiftly, thus reducing these extra expenses.
Funneling Quality Candidates
Employers can enhance hiring decisions and produce a more qualified workforce by efficiently managing their applicant pool and ensuring that candidates’ skills and qualities match the requirements for open positions.
Enhancing Workplace Diversity
Workers with varied backgrounds bring valuable cultural perspectives and direct experience of their target markets, helping companies grasp and meet the needs of different consumers more effectively. A diverse workplace that embraces inclusivity can significantly affect employee morale and loyalty by making individuals feel appreciated and respected for their individuality.
Enhances Employer Brand
A strong and positive employer brand can draw in high-quality candidates, as individuals actively look for companies that share their values and provide chances for advancement and progress. An effective and well-planned application process can greatly influence how a candidate views your company and improve your reputation as an employer.
How to Build Your Applicant Pool – Step-by-Step Manual
To create a strong pool of job applicants, you can follow several strategic steps:
Craft Specific and Well-Detailed Job Descriptions
- Create a compelling job title.
- Give a summary of the position’s responsibilities, tasks, and requirements.
- To attract candidates, make sure you spell out your salary range in detail and highlight the benefits and bonuses you offer.
- Improve your job postings for search engines by utilizing appropriate keywords and including location details.
Define Ideal Employee Traits
Seek input from your most successful employees to determine the essential personality traits and soft skills needed for each role. Recognize the crucial technical skills and experience required while emphasizing the significance of hiring candidates who fit your company’s culture and values.
Use Multiple Job Boards to Expand Applicant Reach
Share your job openings on different job boards, such as widely used platforms like Indeed and LinkedIn, along with specialized job boards tailored to your industry or area.
Consider Remote Workers
Including remote workers in your candidate pool will help you attract a wide range of highly qualified applicants. Talented professionals who value striking a healthy work-life balance may find remote employment opportunities especially appealing.
Simplify your Application Process
To streamline the application process for applicants, companies can minimize the steps and documentation needed, simplifying the process. Ensure that the application procedure is optimized for mobile devices, as many job hunters rely on smartphones or tablets for job searching and applying.
Recruit From your Talent Pool
Keep a pool of skilled candidates who may have yet to be suitable for past positions but could be potential candidates for future roles. Cultivate connections with potential candidates in your talent pool by consistently sharing valuable content, giving customized feedback, and presenting unique opportunities.
Create and Track Employee Referral and Networking Systems
Create a program for employees to refer others and provide appealing rewards for successful referrals. Motivate your employees to engage by scheduling events centered around referrals, implementing recognition initiatives, or hosting friendly contests. Attend networking events, job fairs, and industry conferences to meet potential candidates in person and demonstrate your company’s culture and opportunities.
Leverage Social Media
Use social media platforms to engage with possible candidates and post company news, job opportunities, and industry-related information. Display your company’s culture, values, and employee experiences using exciting visuals, videos, and storytelling methods.
Tips for Managing a Large Applicant Pool
Handling a sizeable group of job seekers may seem overwhelming, but utilizing effective tactics and resources can simplify the procedure and pinpoint the top candidates promptly. Here are a few suggestions to assist you in handling a substantial number of applicants:
Efficient Screening Processes
Establish a well-defined and uniform screening procedure to assess candidates according to set criteria, including qualifications, experience, and cultural compatibility. Use pre-employment assessments or skills tests to efficiently pinpoint top candidates and eliminate those not meeting the minimum requirements.
Create a scoring system to fairly evaluate candidates using their qualifications, skills, and interview performance.
Using Cadient Talent Solutions
Integrate Cadient’s applicant tracking system (ATS) for centralized candidate information, application status tracking, and improved communication efficiency. Utilize its resume parsing tools to rapidly detect important keywords, abilities, and backgrounds from resumes, simplifying selecting candidates.
Moreover, it is crucial to maintain clear and consistent communication with candidates throughout the process. Use Cadient’s communication platforms to give consistent updates on their application status and be clear about the timeline and upcoming actions.
Check out Cadient’s high-volume recruiting solution for sustainable talent pooling.
Conclusion
To attract a diverse range of qualified candidates, companies can craft compelling job descriptions, leverage various job posting channels, and simplify the application process. Nurturing relationships with potential candidates, maintaining an updated talent pool, and encouraging employee referrals further strengthen the applicant pool.
Remember that handling a sizable number of applicants necessitates finding a balance between efficiency and diligence. Although simplifying the process is essential, it is equally crucial to take advantage of all potentially valuable candidates.
Book a demo to discover how our applicant tracking system can simplify your recruitment processes and assist in creating a strong pool of candidates.
