Every company has its special hiring methods to onboard candidates quickly and effectively. Some prefer applicant pooling because it helps build a steady stream of candidates over time while other companies desire traditional recruiting for a better focus on immediate company needs. Let’s unveil the similarities and differences of traditional recruiting vs. modern recruitment with applicant pooling to see which hiring method is the best.
Comparing and Contrasting Applicant Pooling and Traditional Recruiting
Applicant pooling focuses on a long-term recruitment strategy of building a database of qualified professionals over time. This proactive hiring process involves gathering interested candidates from different sources. They could apply to evergreen job postings, connect with recruiters at networking events to be added to the pool, or be candidates who already applied for roles in the past but were not considered at that time.
Traditional recruiting methods involve accumulating candidates starting at the time a vacancy occurs for a company. Recruitment personnel post job advertisements on job boards, add open requisitions to their business website, and post on their social media pages with links to the job application. This conventional, yet reactive hiring approach happens when a company doesn’t have an applicant pool ready to draw from.
Key Differences Between Traditional Recruiting vs. Modern Recruitment
While both hiring methods can lead to proficient outcomes, developing an applicant pool for recruitment is usually more effective because it hastens time-to-hire and reduces recruitment costs. Let’s evaluate the key differences between applicant pooling and traditional recruiting for further understanding of these diverse approaches.
Recruitment Timeline
Applicant pooling bestows a faster recruitment timeline because it’s built continuously even when the company does not need to fill positions. Hence, it’s more proactive, allowing the recruitment team to review candidate profiles for a faster hiring decision when a vacancy arises.
Traditional recruiting can involve a longer hiring process since the recruitment team has to wait for candidates to enter the pool. It could take upwards of 30 to 60 days for a candidate to fill a position, depending on what candidates enter the pool and how expeditious the recruitment team interviews quality applicants before finalizing a selection.
Candidate Engagement
There is more candidate engagement with applicant pooling than with traditional recruiting. Companies can build relationships with candidates over time as they add them to the pool, which enhances their employer branding. Regular recruiting methods can involve some candidate engagement, but it’s only limited to the time in which the open requisition occurs, which may not be as long of a time frame to harvest a meaningful company-to-candidate relationship.
Cost Efficiency
Another difference between traditional recruiting vs. modern recruitment is the overall cost efficiency of each process. Traditional hiring practices are not as cost-efficient as applicant pooling. To source candidates quicker for conventional recruiting methods, it may be imperative to post sponsored job advertisements or outsource to a staffing agency for assistance. Applicant pooling will not cost as much because candidate relationships can be built organically over time via receiving applications from evergreen job postings and connecting with candidates at networking events.
Candidate Quality
Pre-screened, qualified candidates are already in an applicant pool for a recruitment team’s easy access to start the interviewing and selection process. Companies who recruit the old-fashioned way may have to undergo more tailored searches to find the best quality candidates because they do not have an applicant pool to draw from. Applicant pooling can generate higher-quality candidates more so than traditional hiring strategies.
Flexibility
Applicant pooling offers the flexibility of access to a variety of candidates with different skill sets and past job experiences. However, not all the candidates and their skills may align with the different changes within a business. Traditional hiring is more flexible and reactive because the recruitment team can customize job descriptions and workflows related to fulfilling each role according to the needs of the business.
Benefits of Modern Recruitment Using Applicant Pooling
Let’s examine the modern recruitment technology benefits of instituting applicant pooling.
Faster Hiring Process
With an applicant pool ready to be interviewed and selected from, hiring managers can guide the company to achieve a faster hiring process. This approach is most useful when talent is required to quickly fill high-volume roles like Home Health Aides, Cashiers, and Warehouse Clerks.
Consistent Talent Pipeline
Businesses can have access to a strong talent pipeline of pre-screened, qualified candidates ready to be interviewed and onboarded any time a vacancy arises. Access to a consistent talent pipeline is most useful for industries like retail and healthcare that have usually high turnover rates or increases in seasonal demand.
Stronger Employer Brand
Applicant pooling can help companies build a stronger employer brand because they are allowing more quality time to build relationships with potential hires even if there aren’t positions readily available. This fosters a sense of belonging and goodwill that will carry over with engaged candidates who may want to try out for future roles within the company.
Lower Recruitment Costs
Undergoing the applicant pooling strategy contributes to lower recruitment costs. There is no need to begin new recruitment campaigns by posting sponsored job advertisements every time a new vacancy arises as long as you have a steady stream of qualified candidates coming into the pool. By utilizing evergreen job postings where candidates can submit applications even if the role isn’t open and collecting candidate information at networking events, the recruitment team can save the company money with these proactive methods.
Applicant Pool Growth Strategies
Growing your applicant pool takes dedication and clear strategic approaches. Here are some ways you can grow your company’s applicant pool with ease and professionalism:
- Leverage diverse recruiting channels such as company website, social media, and job boards to spread the word about open requisitions.
- Optimize employer branding by making employee testimonials available on the company website and engaging with online communities affiliated with your business’s industry.
- Implement employee referral programs to enhance recruitment outcomes.
- Streamline the application process by making it more user-friendly and implementing pre-screening questionnaires for faster selection.
Benefits of Traditional Recruiting
Here are the advantages of instituting a conventional hiring process.
Targeted Candidate Search
You can focus on more of a targeted candidate search to find applicants that have specific skill sets or job experience to fulfill an open requisition. While it may take more time for regular hiring methods, it could lead to higher-quality recruitment outcomes because of this carefully targeted candidate search.
Real-Time Adjustments
Recruiters can make real-time adjustments as necessary during an active hiring campaign. Whether it’s fine-tuning the job description or changing approaches by looking into different talent pools within the overall applicant pool, the recruitment team can respond to changing market conditions as needed.
Stronger Focus on Current Needs
Recruitment personnel can hone in a better focus on filling current vacancies rather than anticipating future openings like what would be done with applicant pooling. Concentrating on immediate needs can help the company streamline its hiring efforts and make better use of its administrative time. This is another way companies can reduce time-to-hire while reducing resource waste.
Fresh Perspectives
Traditional recruiting can focus on the most recent applicants entering the pool while ensuring diversity and inclusion within the process. The search for new candidates could enhance innovative ideas from people of different backgrounds that may have not been thought of before.
Which Method Is Better?
The better method depends on your company’s needs. Applicant pooling is better for companies with high-volume roles that experience constant turnover. This way, the recruitment team can quickly draw from a pool of pre-qualified candidates to make hiring decisions immediately after interviewing. Traditional recruiting is better for higher-stakes roles where candidates may need unique skills to fulfill certain positions. Companies with a more expansive recruitment budget can do better with traditional recruiting than businesses trying to limit their expenditures.
