Developing a Talent Pipeline

Pond water with reeds In a survey of Human Resource Professionals conducted by Quorum Associates and Research in Motion, 92% of respondents said finding qualified candidates was “extremely difficult”. If one views a company as a pond and its people as water, then on one side you have a stream of fresh water flowing in filling the pond, and on the other side a stream of water flowing out. What is important here is the concept of flow; people come and people go, like water moving through a pond. So the question becomes how to keep the pond full with good quality water.

A talent pipeline is a regular flow of potential employees who have the skills, education and experience the company needs. A successful talent pipeline is a positive, affirming, and encouraging process that tries to identify individuals with the drive and motivation to update their skills and maintain their professional competence over time.

A talent pipeline helps identify key skills and uses talented existing employees to help develop those skills in existing as well as new employees. Companies that are successful in hiring and retaining good people, invest in those people, through good times and bad. They are constantly helping each employee develop new skills and improve existing ones. The best way to ensure you have the skilled employees you need is to retain the skilled employees you have.

A Talent Pipeline reframes traditional transactional recruiting and moves it from an administrative task to a strategic process. Value is created because over time, the quality of employees improves, retention increases, and it becomes easier to recruit the right new people to the company.