If you’re not already using a resume database to build your talent pipeline, you could be doing yourself and your company a huge disservice. But before we get into the reasons a database is critical to building your talent pipeline, let’s back up and briefly discuss just a few of the many benefits of building a talent pipeline.
The Benefits of Building a Talent Pipeline
- You'll decrease time to hire. A talent pipeline is a goldmine of potential candidates, filled with people who have already expressed interest in your company. When a vacancy occurs, you have a ready pool of candidates from which to source, so you don’t need to start from scratch or wait for applications to trickle in.
- You'll get better quality hires. When you don’t have an immediate hiring need, you can take the time to get to know the candidates in your talent pipeline better, identify high potential talent for future hiring needs, and re-engage them until you are ready to formally recruit.
- You'll lower costs associated with salary. A talent pipeline enables you to identify exceptional candidates who may not be actively looking or uncover top talent your competitors may have missed. With less competition for these candidates, there’s no one driving up their salary expectations.
- You'll see better retention among new hires. Candidates you hire from your talent pipeline tend to be better cultural fits, as they are already familiar with your company once they join. Therefore, they are less likely to have “buyer’s remorse” and leave within that first critical year.
The Role of a Resume Database
In order to see these benefits, however, you have to build your talent pipeline with quality candidates. That’s where a resume database comes in. With an external resume database, you can proactively search for candidates with the skills and background you need, as opposed to waiting for them to find you via job boards, your career site or social media.
You’ll also get access to hidden gems you might not have found otherwise. Once you’ve identified the candidates you want in your pipeline (or talent network), you can reach out to them (as they’ve already expressed an interest in being contacted by recruiters) and start building that relationship.
Using the Right Resume Database – The Right Way
Now that you understand how a resume database can help you build your talent pipeline, it’s important to point out a few things.
First, not all resume databases are created equal. Look for a resume database that gives you access to a wide variety of candidates from all over the web, and has a variety of functions to make searching for, finding and connecting with the right candidates fast and easy. With CareerBuilder’s Resume Database, employers can search over 45 million resumes and 150 candidate profiles, while applying up to 15 filters to drill down quickly and narrow their results. Users can then can save and automate their searches to get the results emailed to them, eliminating the need to set up a new search again and again.
Second, much like anything in life, a resume database is only as good to the extent that you know how use it. Unfortunately, searching for the candidates you need can be a long and tedious process, especially if one isn’t familiar with Boolean search techniques. But while mastering Boolean search will certainly help you cut down your search time, it is not foolproof.
A resume database that combines Boolean search and semantic search technology is ideal for the most effective search outcomes. With semantic search technology, users don’t have to know the exact words and phrases to search in order to find the candidates they want. In addition to looking for exact terms, semantic search picks up on context and finds related terms, turning up more, relevant search results.
In today’s labor market, competition for talent is high. Maintaining a robust talent pipeline can give you an edge when it comes to recruiting top candidates, and the right resume database can help make that happen.
Curious to see if CareerBuilder’s Resume Database is right for you? Check out the enhanced search features and functionality.