During the Covid crisis, some leading companies have continued investing in talent research because they know its long-term impact and value. Many others, however, have been in “holding” mode – reduced recruitment (only absolutely essential hires) and a “wait and see” approach, looking to preserve cash and keep options open.
With vaccines soon to be available, we can start to contemplate that business will be able to revert to something like “normal” as 2021 progresses. And now is the time for companies to act. Here are six compelling reasons why Talent Pipelining should begin NOW, and not be deferred any longer:
- If you start now, you will be ahead of most other companies and your competitors in making contact with the most talented executives. Leave it a few months and you will struggle to be heard.
- December and early in the year is a great time to contact potential candidates. That is the case every year – a time to reflect, a time to plan, new resolutions. Never will this be more the case than in Winter 2020-21.
- If you want to hire in Spring or Summer 2021, start the process now. For senior level appointments it invariably takes a few months. Any new recruit who is leaving another job will have a notice period to serve – very often three months. This needs to be factored in, and internal TA teams need to get this message clearly across to hiring managers now.
- Talent pipelining enables you to build relationships, showing candidates you are genuinely interested in a dialogue with them, rather than desperately striving to fill a vacant role. Candidates appreciate such pro-active contact and feel valued through it.
- Now is a great time to get the next big appointments right from a D&I perspective. If you wait until the business decides it needs to hire there will be pressure not only to hire quickly, but to find diverse candidates. Do the work now and create those candidate relationships.
- Talent Pipelining is cost-effective; research and outreach needn’t cost a fortune. And it’s time-effective – your candidate pool is established, individuals have been thoroughly assessed, and you’ve got to know the candidates.
Whenever the new normality arrives, and it will come in 2021, there will be a rush for talent. The companies that take action early will be at the front of the queue and best-positioned to hire the very best people. Now is the time to act.
Henley Research International can assist with Talent Mapping and Talent Pipelining – we find excellent potential candidates and speak to them on our clients’ behalf, enabling you to establish great relationships with the best and most diverse executives.