The concept of a shared talent pool is a new staffing concept that is gaining momentum. It is built on the methodology that candidates are in short supply and its better for both the candidates and companies where candidates can work for more than one company at the same time. It is a concept that is more project based in nature vs traditional job types, and typically has finite time periods.
The shared talent pool concept is built on the idea that it is better to have high candidate utilization rates vs. competing with your competitors in trying to capture a greater percentage of limited available candidate resources. The latter takes time and money and may cause your company to lose its competitive edge.
As more and more millennials look to become independent contractors vs full-time permanent employees, the concept of the shared talent pool is becoming more relevant and companies need to seriously consider this as another option in their overall staffing strategy.
Key Benefits of a Shared Talent Pool:
1. Companies have the ability to capture a higher percentage of the available talent in the marketplace.
2. Candidates bring a more complete, relevant skill set and experiences that can have a positive impact on the companies bottom line.
3. The time it takes to fill positions are dramatically reduced, thus saving the companies money and time.
4. Companies staffing costs are reduced and productivity levels increase.
This concept is growing in support as we go through this time period of candidate shortages and companies taking longer and longer to fill open positions. The time is now for companies to re-think their staffing strategy and consider the concept of a shared talent pool with their competitors.
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Paul is President and CEO of One World Consulting Group, LLC. Paul is a global staffing agent, career coach, recruiter, business developer and sales strategist who serves individuals and companies from around the world.