76% of recruiters state that attracting suitable candidates is their biggest obstacle, and 63% of hiring managers say that talent shortage is their most significant problem, which means that everyone using a recruitment software is likely sitting on a vast talent pool.
There are two primary sources of highly qualified individuals in that untapped pool:
- People within your workforce you’ve already hired
- People who applied for other roles but weren’t selected (but could be highly qualified for similar positions)
All of those people know your organization, liked your company enough to apply and so would be more likely to apply again should they be alerted about new opportunities.
1. Rediscover Talent Within Your Workforce
The Harvard Business Review lists “quiet hiring” as one of the top recruiting trends for 2023 and beyond. Quiet hiring is when you source and recruit candidates from within your present employee pool instead of from the outside. There are many advantages to this:
- You’ve already done the hard work of sourcing and hiring.
- There’s a proven employee track record.
- Employees like inward mobility- moving up or to another department to use existing/upgrade skills fits well with employees’ desire for diversification and increasing their value.
About 51% of learning and development (L&D) pros agree that tapping into internal talent pools to promote mobility is a growing priority. Internal hires now account for nearly 20% of an organization’s workforce.
Employee learning programs are an excellent way to identify and promote engaged personnel. LinkedIn reports that 35% of employees globally have used internal education programs to find new opportunities in their organizations, and 91% of managers feel this can close the skills gap. L&D pros agree, with 82% saying engaged learners will likely move into new organizational roles.
2. Find Your Needed Talent in Runner-up Candidates
Searching for needed talent in runner-up candidates can be a fast, cost-effective way to fill open positions. The applicants already in your talent pool may have the perfect skill set to succeed in your new job opening.
Oleeo’s Talent Rediscovery tool allows you to quickly match candidates within your talent pool to new vacancies. It can quickly tell you if it has candidates with the skills you need who have already undergone the screening process.
- Increase your chances of hiring diverse and inclusive talent.
- Build a talent pipeline and network.
- Improve your employer brand and reputation by showing that you remember, value, and respect applicants.
- Move already screened applicants straight into interviews, saving time and money.
The Benefits of Utilizing Hidden Talent
Talent Rediscovery overcomes the most pressing challenges facing recruiters today. Hiring managers can bring in great talent to fill critical roles while using fewer resources, reducing time and cost to hire. Other benefits of Talent Rediscovery enable you to:
- Better understand your data and the talent readily available.
- Provide an exceptional candidate experience.
- Streamline hiring processes by cutting out steps candidates have already been through.
The key to winning the talent battle this year may be looking within. Understanding the data and talent you have at your fingertips that you may have forgotten about will help you overcome challenges like:
- Doing more with fewer resources
- Keeping employees engaged
- Providing candidates with an exceptional, personalized experience to show you really care
Oleeo understands the importance of addressing current recruiting challenges with tools that improve all aspects of the recruitment process. If you’re interested in learning how Oleeo can support your recruitment strategy, please get in touch, we would love to hear from you!