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 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?

Creating and nurturing a talent community becomes remarkably effortless with the utilization of a TalentNet’s feature-rich software platform.

TalentNet adopts a unique One Doorway approach, seamlessly integrating various types of talent into your organization, be it contingent workers, full-time employees, or freelancers. Furthermore, it serves as a centralized interface, allowing you to engage with the entire talent community effortlessly. Renowned global brands such as Pfizer, Capgemini, bp, and Meta have entrusted TalentNet, recognizing its ability to revolutionize talent management. The platform’s robust functionality and reputation make it an indispensable tool for fostering a thriving talent ecosystem.

To learn more about how TalentNet can help you optimize your talent management strategy according to your requirements, please book a product demo.