Talent Bench

The Importance of Having a Talent Bench

Implementing a Talent strength strategy can lower external recruiting costs, executive search fees, interviewing time, and the time-to-fill period for vacancies. Also, top talent loss can be prevented through talent vacancy risk assessment, retention plans, and development actions.

Why is Bench Planning Important?

An organization's bench strength — or its pool of competent employees qualified to shift into specific leadership roles — facilitates the success of HR's succession plan. If executed well, this plan ensures continuity in leadership, avoiding vacancies or periods of ineffective leadership while new hires are trained.

How to Build a Talent Bench?

1. All hiring managers in your company should set a monthly goal of meeting 5 individuals with the skill set and experience for positions they have hired for in the past and will hire again in the future.
2. Companies should have quarterly open houses that showcase their products, services, and employees.
3. Human Resources should proactively reach out via LinkedIn to individuals with the skill set and experience for positions they have hired for and will hire again in the future, inviting them to the open house.
4. The company website should have a page that lists positions that are not actively open, but that company regularly hires for. This page would be different from active open positions.
5. Human Resources should create a company LinkedIn Group Page and proactively invite those individuals who would be good future hires to open houses or virtual coffee meetings. This LinkedIn Page would include company news, employee and client testimonials, and current open positions and positions that the company regularly hires for that are not actively open.
6. Engage with companies such as One World Consulting Group, who can work with Hiring Managers and Recruiters to build talent decks.

If you are planning on building out a talent bench please contact me at 425-766-9778 or e-mail me at [email protected]. Visit our websites at https://www.oneworldconsultinggroup.com/ and https://oneworldexecutivesearch.com/