What is Talent Bank?

What is Talent Bank?

About Talent Bank Recruitment

A Talent Bank is a pool or database of candidates that possess specific expertise, skills, qualities, or qualifications. Organisations use talent banks to streamline their recruitment processes through a combination of innovative strategy, a proprietary technology platform and experienced recruitment experts. 

Why use Talent Bank?

With your own Talent Bank of flexible potential employees and contingent workers, you can attract and retain talent with the skills, experience, and knowledge that your business needs, all in one place. 

It makes the whole hiring process faster by providing you with an easily accessible pool of candidates that are pre-qualified to possess the skills, attributes, and qualifications that you need. 

Benefits of Talent Bank

A number of key benefits exist for using Talent Bank for your organisation. 

  • Cost savings: By maintaining a bank of talent, you can reduce the recruitment costs of advertising positions and filtering applications. HR professionals that would usually be taken up with these tasks are also free to take on more strategic roles and focus on growth and development.
  • Time savings: A readily available source of talent means that a hiring manager or HR can quickly fill vacant positions without waiting for new applications, and without reduction in productivity while waiting for a new worker to start.
  • A proactive approach to talent management: You can proactively manage your talent pipeline by identifying potential candidates or nurturing previous candidates or contingent workers, before specific and often reoccurring positions become available. This creates more organised and strategic workforce planning for now and the future. 
How to build a Talent Bank

To build a talent bank, you need to follow some steps: 

  • Define your talent needs: Identify the roles and skills that are critical for your organisation, as well as the ones that are hard to fill or have high turnover rates.  
  • Source your talent: Find potential candidates from sources such as your existing workforce, referrals, social media, job boards, or talent communities. Partnering with external agencies or platforms can make this a more time and cost effecting process.
  • Screen and assess your talent: Evaluate the candidates based on their suitability for your organisation and the roles you need. A third party can use technology and specialist knowledge to streamline some of these processes.
  • Engage and nurture your talent: Keep in touch with the candidates in your talent bank by providing them with relevant information about your organisation, for example using email or social media, to communicate with them and build rapport.  
  • Hire and onboard your talent: When you have a vacancy, you can easily access your bank of talent and select the best candidates for the role.  
A bespoke approach to Talent Bank with Comensura

Comensura’s Talent bank solution gives you real-time access to pools of high quality, pre-screened contingent workers, ready to go. Scale with speed and hire the same day from a pool of fully vetted candidates available 24/7. Find out more here.

People also asked

A talent pool usually refers to a database of potential candidates who possess specific skills or qualifications, with all the standard information such as CV and contact details. A talent bank takes it one step further, by actively engaging and nurturing individuals in this bank who share common attributes, interests, or connections, with the goal of keeping them interested in working for a company. 

Talent bank means that you consistently have a source of interested and engaged talent that are already open to working for you, available to reach out to in times of skills shortages. There is no need to start from nothing trying to attract new candidates that need convincing of your worth as an employer, which increases the number of interested candidates in a much shorter period.

Talent banks can be industry specific or generic, depending on the businesses or organisation’s needs. Some are tailored to specific sectors such as healthcare, facilities management, or construction. Others aim for a broader range of skills and backgrounds. 

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