5 ways a talent bank reduces time-to-hire

Research shows it now takes an average of 44 days to appoint people to a role, up from 43 days in 2022. This increase might seem small, but unfilled positions for any length of time negatively affect productivity, morale, and growth. With too many vacant positions, achieving success is nearly impossible and the longer this goes on, the more difficult it is to come back from. Thus handing your competitors an advantage.  

Talent bank provides an adaptable technology platform customised to meet your bespoke workforce management needs and can significantly reduce time-to-hire, leaving you with less or ideally, no open vacancies to worry about. But how does talent bank achieve this? 

Using a Talent Bank in recruitment can significantly reduce the time to hire in several key ways: 

1. Pre-qualified candidates: Talent Banks often feature pre-screened and vetted candidates, eliminating the need for extensive initial screening processes, which means that your team can focus on more targeted and strategic tasks and assignments.
2. Fast access to pools of relevant talent: Instead of starting the hiring process from scratch for each position, you can quickly access a pool of available and relevantly skilled candidates, significantly streamlining the search and selection process.
3. Skill matching technology: Many talent banks employ advanced algorithms to match position requirements with candidate skills. This automated process accelerates the identification of suitable candidates, which is significantly faster than manually reviewing CVs and applications.
4. Reduced number of positions advertised: With a ready pool of candidates to hand, there is less reliance on posting jobs and waiting for applications. You can instead tap into the existing talent pool, cutting down on the time typically spent advertising and waiting for responses.
5. Improved candidate experience: The streamlined process and quicker response times contribute to a positive candidate experience. This, in turn, can help attract top talent and reduce the risk of losing candidates to competing opportunities. 

By creating and maintaining your own Talent Bank of potential employees and contingent workers, you can attract and retain talent with the skills, experience, and knowledge that your organisation needs, significantly shortening the time it takes to identify, evaluate, and hire suitable workers, leading to a more efficient recruitment process. 

Talent bank with Comensura 

Selecting Comensura as your talent bank partner gives you the advantage of years of knowledge, as our talent bank solution is powered by the Impellam Group. Impellam is a connected group offering unparalleled workforce and STEM talent solutions expertise to provide your organisation with mission-critical skillsets to future-proof your business. Though Impellam, Comensura have wide-reaching Talent bank experience across a variety of industry verticals and types of roles, sourcing and nurturing talent across the UK. 

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