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The significance of talent community in overall talent management

The significance of talent community in overall talent management

A talent community is a group of job candidates or working professionals who can be accessed whenever you need to fill a new role. Those in the talent community could belong to any worker category- contingent, full time or freelancers.

Here are the reasons why talent community is crucial in talent management.

Cutting down cost of hiring

Identifying and engaging with new candidates could be time-consuming. But here, you could reach out to a group of candidates easily, that too without spending on job advertising. Recruiting from a talent community is thus more cost-effective than traditional recruitment methods including hiring a third-party recruiter.

Candidates with better understanding about the company

You can periodically share content related to the company and the kind of roles being offered with your talent community. So, when you hire someone from the community, they come with a greater understanding of the role and the company culture than others. This helps them get attuned to the firm and reach peak performance quicker than others.

Great to engage with passive candidates

Maintaining a talent community is especially useful for hiring passive candidates. They are not interested in switching their jobs at the present moment. But they are highly skilled and are deemed a great asset to the companies in which they work. If they are part of your talent community, you could engage with them over a period of time. Share with them content that would help them evolve professionally. You could also share content highlighting your company culture. Once a relevant opening comes up, you can share that fact with them. They have a good understanding of your company and a strong rapport with you by this point. So, they are more prone to consider a job in your organization than before.

Get referrals

Companies usually seek referrals to fill a new role from current employees. If you have a talent community comprising current, previous and potential employees, the pool of people you could get referrals from is considerably expanded.

If referrals translate to people joining your organization, the recruitment costs that you save would be substantial.

Quality of candidates

As mentioned before, recruiters can engage with those in their talent community over a long time- even when there are no current roles open. In this process, they gain a good understanding of the talent’s skills and their aspirations and goals. This makes it easy for you to evaluate the quality of a candidate and by extension, select the best candidates for a role.

How do you create and nurture a talent community?

A talent community can easily be created and nurtured by using a features-rich software platform like TalentNet. TalentNet is a single doorway in for all types of talent into your organization- be they contingent, full time or freelancers. It also functions as a single pane of glass through which you could engage with all talent in the community. The platform is used by some of the biggest global brands including Pfizer, Capgemini, BP and Meta. To learn more about how TalentNet can help you build a talent community according to your requirements, please book a product demo.