What if there was a way to ensure the right candidate was waiting in the wings when an employment vacancy arose in your business? Talent Mapping helps businesses avoid the delay and cost involved in replacing talented staff.
Forecasting the future
Talent Mapping is a real alternative to ensure businesses are on the front foot. Instead of waiting for someone to resign and then scrambling to fill their vacancy, Talent Mapping offers employers peace of mind. They are prepared for the inevitable recruitment process through an existing relationship with a Talent Mapping consultant who knows the company’s staffing needs and culture and has suitable candidates ready to step in when needed.
The key difference between traditional recruitment and Talent Mapping is a reactive versus proactive approach. In most organisations a position becomes vacant and the company initiates a recruitment exercise, using methods such as advertising, referrals, recruitment and executive search agencies. This process typically takes two to four months to fill the role. Talent Mapping involves a longer-term approach initially, but provides candidates who are pre-qualified and interested in moving at the time they are really required.
Talent Mapping is the solution to today’s recruitment crisis and turns the way the recruitment industry currently works on its head. It works like a retained talent scout. It is like having an internal recruitment and search capability, with the flexibility of an external brand representing you. This is particularly important if the candidate works for a competitor.
Availability of quality candidates is decreasing and the time it now takes to hire is increasing. Put simply, with Talent Mapping the recruitment process starts before the vacancy exists. Every company has staff turnover, so thinking ahead and knowing how many new employees are needed means they could be looking for talent before someone has even resigned. Candidates are pre-qualified in terms of skills, culture and motivation, leading to faster decision times for both the candidates and the company.
Traditional recruitment methods have become less effective as a result of the supply/demand dynamics in the current employment market, as well as the propensity for candidates to move roles more frequently. Talent Mapping addresses candidate quality issues through a comprehensive map of the market and creates a pipeline to reduce time to hire.
How does Talent Mapping save money?
Roles affecting a company’s profits through either creating revenue (sales positions) or billing revenue (delivery positions) will cost an organisation while the post remains vacant. For example, a vacant sales role results in reduced revenue for the allocated territory. Also, technical roles can be imperative to companies bidding for projects where the candidate’s skills are required for successful delivery. Companies without the necessary skills can be forced to pass on opportunities.
On a fee level, Talent Mapping services charges are based on a fixed-cost model, whereas traditional recruiting involves higher percentage-based fees.
How to Talent Map
Talent Mapping is thought of as being one in the same (in the context of a single role) as the candidate identification and initial contact stages of an Executive Search (Head Hunting) assignment.
Your Talent Map is the identification of a group of individuals for one or more specific (normally key) roles in your business. It firstly requires a business to understand how to measure and define (generically and role specifically) what a good prospective employee is. It then seeks to understand where the best talent is working. It establishes which businesses tend to have the best individuals and what working conditions and remuneration attract them to those businesses and keep them there.
This means that the business has a talent pipeline and therefore the basis to build their succession plan whatever its future demands, whether through significant growth or organisational change.