Recruiting: Using Talent Rediscovery to Hire Top Talent
In today’s job market, if you’ve cracked the code to job postings and have found yourself receiving a large volume of applicants, you’ll often find yourself overwhelmed. You and your team flounder to keep up with the piling resumes while also trying to reduce the time it takes to hire a candidate. No need to despair — talent rediscovery is here!
What is Talent Rediscovery?
Talent rediscovery is the practice of screening candidates who’ve previously applied for a role at your company. A majority of the time, the heavy lifting will be done by your applicant tracking system (ATS). Given that 75% of all resumes are never seen by a real human being and 95% of Fortune 500 companies use an ATS, it’s pretty clear that many candidates will not receive a fair assessment.
With only a quarter of applications getting through the AI, talent rediscovery can help you optimize the applicant selection process as your existing talent pool may already have top talent that’s just waiting to be discovered. In today’s job market where highly top talent is hard to find, losing candidates to the hiring process is costly and time-consuming.
Advantages of Rediscovering Talent
Instead of posting a whole new job application and going through the trouble of screening candidates again, if the job responsibilities are similar enough, talent discovery can help you in many ways.
In addition to optimizing the applicant selection process, talent rediscovery can also get you higher quality applications since you’ve already filtered through the applications. The amount of time your hiring team saves also translates to lower hiring costs. All these benefits are only magnified given the fact that 69% of recruiters report their hiring volume has increased this year but only 26% of them say the size of their teams has increased.
Once you’ve identified those you’d like to reach out to, you’ll need to create a targeted, re-engagement campaign to see if these individuals are still looking for a job and if they are still interested in being considered for the position. You and your team may chose to go with an email campaign to reach out, personalizing and sending out the right emails at the right time to increase the likelihood of re-engagement. This will allow you to differentiate your company brand and help your hiring team stay focused whilst nurturing candidate relationships and building the candidate experience.
Matching Candidates to Positions
Talent rediscovery holds the potential to streamline the recruiting process by dramatically increasing efficiency, reducing spend, and increasing competitiveness for talent. To ensure candidates are still eligible for the position, you use assessments to evaluate their candidacy. If they’ve completed the assessments previously, even better — you can see how their skills and job-fit have evolved over time.
By using assessments for talent rediscovery, you can rest assured you are making data-driven decisions and limiting unconscious biases. It gives you an upper hand on identifying the candidates that are best fit for the job. It can also help you reinforce your brand to candidates that have already been through the hiring process.
For many organizations today, the ability to acquire talent that will drive creativity and innovation is paramount to staying competitive. The next time you’re looking for talent, think of optimizing the candidates you already have. You’ll find that talent rediscovery can be just as simple, fast, and effective at finding those rockstars.