Talent pool management is the term that most HR teams use to describe their souring process, for both full time and contract workers. From attracting the right candidates, onboarding them, developing, motivating, and retaining high-performing talent, it’s a full time job managing the process end-to-end.
Managing a pool of talent helps improve business performance and saves time as the reliable or trusted freelancers are kept on record. But it can slow down businesses and even hinder growth if it’s not handled properly.
We explore the importance of talent management, the challenges businesses face and how to update your current process with the help of talent pool management software.
Why should you use a talent pool of freelancers?
Imagine if every time you had a new project that needed more resources, you had a proven and trusted pool of talent from which you can hire the best freelancers from? Sounds great, right?
This is one of the reasons why many HR teams have started building high-quality candidate databases for current and future needs.
Having a trusted list of freelancers to turn to when workloads get too much is an essential part of running a successful business. Not only does it ensure the quality of work when you re-book an experienced contractor who has already worked with your teams, it saves significant time and money usually spent on recruitment.
A quality talent pool should contain information about each candidate, including their skillset, day rates, CV, portfolio, notes plus their previous engagements they’ve worked with you on.
Some of the challenges of talent pool management
Whilst talent pool management is an excellent addition to a businesses recruitment process, there are a few challenges that businesses face. These include:
Manual processes to track personal information - Manual processes are open to human error, are usually time consuming and sometimes result in collecting the wrong information. Dealing with freelancers personal data can also set off the GDPR Alarm Bells.
Too many documents/spreadsheets - Not having the right process in place will slow your recruitment process down. Being able to store data including day rates, and portfolios, is important but if you don’t have the right tech in place, it can create delays to book someone.
Is the information kept up to date? - Storing the above information is one thing, ensuring it is updated is another. When teams get busy this is the first thing that gets missed. A simple admin task, but they add up and hinder the sourcing process.
If someone leaves the business does your trusted list of freelancers leave with them? - A common issue within businesses is when someone leaves the business and takes a copy of the spreadsheets/documents with them. Firstly there is the data breach element, then there is your potential competitive advantage, gone.
Why using talent management software can help
Businesses can reap the rewards of having a great talent pool of contractors and freelancers- and avoid the challenges above, by investing in automated software like YunoJuno to help manage talent pools. Training is quick and easy as talent management software has been developed to be user-friendly and easy to navigate, helping to save time and avoiding any errors.
Using talent management software like YunoJuno instantly improves the internal sourcing process, saves personal information in a GDPR compliant and risk-free way with automated processes ensuring nothing is ever missed and you have the information required at the click of a button. The platform also includes recruiter management, IR35 compliance, contract management, timesheets and payroll and insights.
Why not enjoy the benefits of having full control and visibility of your entire talent pool management process. Learn more about how YunoJuno can help your talent management process.