Why you should build a talent pipeline

In times of uncertainty, a growth mindset is more important than ever which means managing what is in front of us but also thinking about and planning for the future.  

There is no question these next few months will be a slog.  Revenue and market growth will continue to be hit while we all navigate through this cloudy zone.  But our communities are starting to activate which means there is light on the horizon and as we act for today, it is critical we also plan for the future.

 Some things to consider:

•  It takes an average of 76 days to fill a director and above level position.  Executive level roles can take 90 days or more.
• Hiring slow contributes to leadership success.  According to Harvard Business Review, 50-70% of executives fail by the 18th month of their appointment.  Much of this data points to companies not taking time to fully explore culture fit and not setting up an environment that allows executives to acclimate.
• Building a talent pipeline alleviates pressured decisions.  Networking for future growth enables companies to meet a diverse number of people and gather new points of view, which is especially useful when a role is not fully defined or there are internal discussions about leveling and role requirements.
• Creating a pipeline approach to hiring decreases salary costs and fills roles quicker when formally opened.  With a bench of talent, you can quickly fill roles with qualified, pre-vetted candidates.  When marketplaces are competitive, pressured decisions can lead to going outside salary bands and making pressure-based decisions.
• Virtual meetings open new doors.  People need connection now more than ever.  Getting yourself and your teams comfortable and relaxed with virtual conversations and networking will open new areas of growth for your business today and enable more ways to connect in the future.

Now is a good time to be future focused and to play the long-game.

Shine Talent has designed a best in class process to build your talent pipeline and provide introductions for future business needs. We'd love to help build your pipeline and introduce you to our network. Reach out to Kristine at [email protected] to learn more.