Building a Talent Pipeline
The hiring process is challenging for many reasons. Not only is it time consuming and labor intensive to find the right talent to build your team, but many factors can make finding the right person even harder. The talent market sometimes slows with economic trends like low unemployment. Hard-to-fill positions may sit open for longer than you’d like. Or perhaps you’re simply hiring more quickly than your team can keep up with.
Whatever the reason, wouldn’t it be nice to have a pipeline of pre-vetted, qualified candidates to pull from when you’re ready to hire? That’s why we love helping clients build a talent pipeline through our fractional recruiting model. In this article, we’ll share some of the benefits of this type of recruiting engagement.
What is fractional recruiting?
You can learn more about this service here. In essence, fractional recruiting is outsourcing all or part of your recruitment process. Many companies leverage it to build a talent pipeline. They hire a recruiting firm like Risch Results to source, screen, and interview qualified candidates. Then, we send the candidates to your hiring team. It’s that simple! You’ve got a pipeline filled with top candidates.
When do companies need to create a talent pipeline?
Let’s put it another way: when is it not beneficial to have pipeline of qualified, experienced candidates ready to fill your company’s most crucial roles? Some companies build out a pipeline to fill a growing number of the same position–like financial analysts or consultants to serve a growing client base. Others use this method to source for a variety of roles. Either way, it’s a fantastic way to make your recruiting process move more effectively and efficiently. Below, we share more of the benefits:
Benefits of creating a talent pipeline through fractional recruiting:
- Proactive Hiring: With a talent pipeline in place, companies can proactively identify and engage with potential candidates before specific job openings arise. This ensures a continuous flow of qualified candidates, reducing the time-to-fill for critical positions.
- Higher-Quality Hires: By building relationships with candidates over time, companies can better assess their skills, qualifications, and alignment with the organization’s values. This leads to more informed hiring decisions and ultimately, better hires.
- Cost Savings: Creating a talent pipeline can save money. With a fractional recruiting method, you’re working with a recruiting firm in a fractional engagement rather than paying for each individual position.
- Faster Hiring Process: When a job opening occurs, companies can tap into their pre-screened talent pool, significantly expediting the recruitment process. This is especially valuable for positions that require swift hiring, such as urgent project needs or sudden departures.
- Talent Network Building: A talent pipeline also serves as a network of potential candidates who may not be suitable for current roles but could be a fit for future positions. This network can be leveraged for referrals, introductions, and industry insights.
- Strategic Workforce Planning: Companies can align their talent pipeline with their long-term business goals and growth strategies. This allows them to develop a workforce plan that ensures they have the right people in the right positions as the organization evolves.
Case Study: Primed Business Consulting
Primed Business Consulting is a woman-owned company in Dallas that works with companies on improved operations, systems and processes, cultural alignment, and mergers and acquisitions. They are in Dallas, Texas.
Primed is growing and wants to build their talent pipeline. They are consistently looking for experienced consultants and program managers. However, they don’t have a dedicated recruiter in house. And they don’t have the internal bandwidth to source, reach out to, and recruit qualified candidates.
Our Fractional Recruitment model supplies Primed with a steady stream of talent. Our recruiter sources and screens candidates with a preliminary interview, then sends the top talent to the Primed team to interview. In four months, they’ve already hired three of those candidates.
Not only does this model save them time and energy, it’s a huge cost saver. Rather than paying a recruiter for each individual position, a Fractional Recruitment model is a great option for Primed, who is recruiting multiple positions at once.
Build a Talent Pipeline with Risch Results
Ready to start? Building a talent pipeline through our fractional recruiting model not only addresses immediate hiring needs, but also supports your long-term talent acquisition strategy. Stay ahead of your recruitment needs, identify top talent in advance, and build a robust and engaged candidate pool. Contact us to learn more.