Applicant Pool Definition

In recruitment, an “applicant pool” is a term used to refer to those candidates who have applied for some certain vacancy. It is a pool of people with different extents of qualifications, experience, and skills under consideration for any vacancy in an organization. The size and quality of the applicant pool go a long way in determining the effectiveness and efficiency of the hiring process. A strong pool of applicants will make it more likely to find the perfect candidate who fits the job description and the culture of the company.

Why is an Applicant Pool Important in Recruitment?

An applicant pool plays several roles in the recruitment process, above all, offering a base of people with different perspectives and the skills needed to enhance organizational performance. If the applicant pool is bigger and more diversified, then the chances of getting a better candidate will fit the job and bring novelty to the team. Besides, an updated pool of applicants may accelerate the recruitment process by furnishing future openings with prepared information about applicants to future openings and decreasing search time, among other resources expended in finding new applicants.

How to Build a Strong Applicant Pool?

Developing a robust pool of applicants requires some strategic planning and continuous efforts in that regard. Some of the key steps in this direction have been explained hereinafter:

Leverage Multiple Sourcing Channels

Use all kinds of sourcing channels, including job boards, social media, recruitment agencies, and referrals, to attract a broad range of candidates. All of these channels will disseminate information in different parts of the job market, increasing your applicant pool in terms of size and diversity. This broad approach will help you capture as wide as possible an array of talented people.

Develop a Strong Employer Brand

Brand your organization as an attractive workplace by touting company culture, values, and benefits. With a strong employer brand, you will be able to attract top-of-the-line candidates who fit well with the mission and vision of the organization. By bragging about what makes your company exceptional, you will help draw in applicants who will feel compatible with your workplace environment and goals.

Create Compelling Job Descriptions

Write clear, attractive job descriptions covering the role and all the relevant responsibilities. Make sure to highlight the benefits of working for your business, as well as growth and improvement opportunities. Well-written job descriptions will be instrumental in encouraging applicants who are interested and qualified for the position. Good job postings make a huge difference in getting the right applicants.

Engage with Potential Candidates

Engage with prospective candidates in forums, career fairs, and through online correspondence. This pre-application engagement will create a good impression of the organization within the candidate’s mind, and they will tend to apply for service when a suitable position is available. Active engagement will help foster a base of interested candidates who are aware of your company.

Putting these approaches into regular practice will sustain a strong, diverse pool of applicants and greatly improve your chances of taking on the best people for the right positions.

How to Manage an Applicant Pool?

One must manage an applicant pool effectively so that the quality and relevance of the pool are maintained. Some of the steps that can be used include the following:

1. Maintain Accurate Records

In-depth records should be maintained on every applicant contacted or who otherwise identifies himself or herself. The records should contain the name, contact details, qualifications, and experience of the applicant, together with the job positions applied for. Proper records maintain follow-up of candidates throughout the staffing process and make sure that no strong candidate jumps through the net, in place. A well-organized database is a significant player in effectively managing data.

2. Regularly Update the Pool

Regular review of the applications in the pool can be done to edit out the old or irrelevant profiles. A fresh pool will keep the candidate database relevant – assuring you access to the best fit and most interested candidates for a potential new position. It can maintain the quality and relevance of the candidate database.

3. Communicate with Candidates

Keep in regular contact with your talent pool. Inform them about the availability of new positions, company news, and other relevant updates. Engagement and knowledge can be powerful tools to keep candidates interested in your business. This also helps you maintain good relations with your prospective employees.

By effectively managing your applicant pool, you can streamline the recruitment process and ensure you have a ready pool of qualified candidates when needed.

How to Improve the Quality of Your Applicant Pool?

Improving the quality of your applicant pool requires focused work in attracting and holding people of real worth. Here are some strategies to help improve the quality and diversity of your applicant pool:

  • Focus on Quality Sourcing Channels: Establish the performance of each sourcing channel, and rank them in terms of their consistency in providing good quality candidates. Of course, more resources need to be spent on high-quality sourcing channels for better candidates. This explanation is useful in maximizing the quality of your applicant pool by spending time only on the most effective bunch of channels.
  • Enhance Candidate Experience: Provide each candidate with a positive and professional experience from the moment of application to the final hiring decision. The better the candidate experience, the greater the opportunity for an enhanced employer brand. More qualified candidates should tender applications. Every interaction with your organization should be positive to make a great impression on the candidate.
  • Offer Competitive Compensation and Benefits: Ensure that your emoluments are at par with the best in the industry. Attractive salaries and benefits will definitely draw high-quality applicants. There has to be a competitive offer to get and retain the best available talent in the market.
  • Implement Employee Referral Programs: Encourage existing employees to refer qualified candidates. The quality of employee referrals is usually very high, and such candidates are a better fit within the organization. This technique utilizes your existing employees’ networks in the search for proper candidates.

By focusing on these strategies, you can improve the quality of your applicant pool and more easily find and hire top talent.

What are Common Challenges in Managing Applicant Pools?

Keeping an applicant pool is not free of challenges. Among the most common of these challenges is keeping the records current. Sometimes, after some time, candidates are recalled due to other opportunities, which renders their profiles obsolete. Another problem is finding out whether the applicant pool is filled with diversified talent. Drawing too much from the same source of sourcing channels can eventually lead to the reverse: lack of diversity means limited skills and views. Moreover, the high number of candidates may be a problem in terms of resource-effective and efficient management of communication – the need for an effective system and process.

What are the Benefits of a Well-Managed Applicant Pool?

A well-run pool of applicants benefits an organization in many ways. It reduces the time and cost that the organization spends to find new applicants, as there is already a database to scroll through when a position needs to be filled. It shortens response times when new positions become available, which enables an organization to reconstitute faster. In addition, maintaining a good applicant pool should result in better quality hires because the variety of applicants allows better access to qualified candidate sources. This will ensure superior performance on the job, higher satisfaction ratings, and reduced turnover.

Conclusion

An applicant pool is an essential requirement of the recruitment process, offering a vast range of different candidates for whatever job is posted. An applicant pool can help organizations build and manage better recruiting, cutting hiring costs, and improving the quality of hires. Any considerable extent of success in a recruitment process may be helped along to a great degree by understanding the need for an applicant pool and ways of making and managing it effectively. These will further an efficient and effective recruitment process and, as a result, the organization as a whole. Companies can create a competitive advantage in attracting and keeping the best available talent by concentrating on these very areas.