Monday, May 18, 2009
HR - 5 Reasons to Continue Developing Your Candidate Pipeline
I am so happy to have come accross this article. I was a bit on a rant about this yesterday. Over the weekend I heard a few people say, "you know, the economy." The economy seems to have become more of an excuse to give up. While times are more difficult than before, companies can either fall to the wayside or they can take advantage of the situation. When the economy is bad, many businesses begin a hiring freeze and wait around to see what others do. A forward thinking company will take action and perceive new challenges and opportunities.
Ere.net listed 5 powerful reasons why companies that want to come out on top will continue to develop their candidate pipeline.
1. Pipeline development is part of their growth strategy. You don’t wait until it snows to gather firewood, and these companies don’t wait until they need a hire to start identifying candidates who are equipped to be a part of their company’s success.
2. They know that long-term hiring success requires a process. It is a lot easier to keep a fire going than it is to start one, so these companies will start an ongoing dialogue with candidates with the intention of making an offer when the time is right.
3. A developed candidate pipeline removes major competition from the equation. When the time to hire arrives, these companies either have their offer prepared or they are at the top of the candidate’s mind. This reduces the chances of a salary war.
4. Having qualified candidates on hand minimize delays in production. Sometimes unforeseen events can cause the ball to be dropped. A developed and managed candidate pipeline allows these companies to rebound quickly and efficiently.
5. A company that is actively recruiting is considered a strong company. By continuing to engage prospective candidates, these companies strengthen their own company brand among others in their industry and remain aware of other trends within their market segment.
Will your company be prepared? Or will you rush and miss the opportunities to get the top candidates when you need them?