A talent community is another one of those explosive social media/talent management cocktails that are supposed to set the HR world alight. They haven’t quite done that yet – and it’s not to say they won’t – but for the moment talent communities are still in their embryonic stages and finding their feet and true home in the talent management process.
There is no doubting the ambition of the talent community — and building a social media–engineered, employer branded, social community of talent from which you can mine passive talent to fill immediate vacancies as they arise now or in the future is no longer a luxury, but a necessity.
Build a Successful Talent Community
There is a lack of clarity, however, as to what a successful talent community actually looks like — and that’s not acceptable. The concept of talent communities cannot be taken lightly just because they’re new and buzz-worthy. A fully operational, funded talent community has to be ultimately judged by the same three standards that all hiring methods are judged against: time, cost and quality of hire.
Use the following three criteria to judge whether you’ve built an effective talent community that rocks.
1. Your cost per hire is comparable to other methods. Talent communities take time and resources to maintain. If your cost per hire is comparable or lower than alternative methods, this is a sign your talent community is really hitting the mark.
2. Time to hire is the same or faster than other channels. Part of the excitement of talent communities is that you have a reservoir from which you can select talent as needed. As long as it’s proving faster to siphon from the talent community reservoir than it is to go directly to market, your talent community is really rocking.
3. Quality of hire. Research shows that quality of hire is now the most important hiring metric. If your talent community is able to deliver recruits that perform better or at least comparably to other hiring methods, it’s a strong sign you’ve built an effective, rocking talent community.
Good luck with building your talent community that rocks.
Image: Anirudh Koul/Flickr