Building A Pool of Applicants: 5 Steps That Work

Growing a pool of potential and future applicants is one of the most crucial steps in the modern hiring process.

Whether you're hiring for a single position - or building a candidate pool for future needs, attracting high-quality talent can be tricky.

In today's competitive job market, getting the right mix of qualified applicants takes more than just posting job openings.

You need a strategic approach that nurtures both active and passive candidates and builds real candidate relationships for future roles.

So, let's jump into five clear steps to building a better pool of applicants backed by real data and best practices for 2024 and beyond.
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Step 1: Write Simpler Job Descriptions

When it comes to growing your pool of applicants, clean, simple job descriptions go a long way, as these descriptions are often a candidate's very first introduction (and impression) to your company.

You can even use Video tools like Vouch to make your job descriptions extra clear and engaging for top talent.

If your job descriptions are complicated, seem hard to navigate, and are not friendly, then well, most candidates will instantly form that feeling about your company, too.

You need to make your job descriptions detailed yet concise and rely on your employer brand to do most of the heavy lifting. Include the job responsibilities, job criteria, and key job requirements.

Candidates should understand what skills you're looking for and what the company culture offers in return.

Best practices for writing job descriptions:

• Keep it simple and remove any unnecessary jargon and fluff.
• Focus on technical skills and soft skills equally.
• Use clear language about job expectations and opportunities for advancement.
• Avoid vague descriptions that attract unqualified candidates.
• Include salary range. Transparency about salary expectations can help filter out candidates who aren't fit, improving the overall candidate quality.

According to a recent report by LinkedIn, job posts with salary details receive 30% more applications. This transparency can help attract high-quality candidates who match your criteria from the get-go.

For examples of well-crafted job descriptions, check out LinkedIn's guide on job descriptions.

Step 2: Tap Into Multiple Sourcing Channels

Gone are the days when a single job post on a popular job board would suffice. Today, you need to diversify your sourcing channels to reach a wide range of candidates.

Key sources include:

• Online job postings on platforms like LinkedIn, Indeed, and niche-specific job boards.
• Leverage media like Video and social media platforms such as LinkedIn and Facebook Jobs. You can leverage these for passive candidates who aren't actively searching but are open to new opportunities.
• Work on building employee referrals. This is still one of the most effective ways to quickly build a strong applicant pool.
• Job fairs and industry events. In 2024, face-to-face interaction matters more than ever, even if it is through Video like this to provide access to a national talent pool.

Research from the Department of Workforce Services shows that 35% of job seekers in 2024 found their last job through employee referrals.
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Step 3: Streamline the Application Process

How easy is it for a qualified candidate to apply for your roles? A lengthy or confusing application process can drive away even the most enthusiastic applicants. User experience is everything when it comes to growing your pool of applicants.

Tips for an efficient process:

• Keep your application forms short and focused. Stick to the basic requirements—you can gather more detailed information later in the interview process.
• Use Applicant Tracking Systems (ATS) to filter resumes and ensure you're not missing great candidates.
• Offer pre-employment tests or screening questions that match your selection criteria. This helps filter out unqualified applicants early.
• A Glassdoor survey reveals that 60% of job seekers abandon online applications because they are too long or complex. Simplifying this process can significantly increase your pool of applicants.

For top ATS options in 2024, here is a great resource that looks deeper into platforms like Eddy Hire or Hire Success.
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Step 4: Build Real Relationships with Future Candidates

A great candidate pool isn't just about today's job applicants—you need to think about tomorrow's potential hires. Building long-term relationships is crucial, and this is where Candidate Relationship Management (CRM) tools come in handy.

CRM strategies:

• Regularly engage with qualified candidates who aren't ready to move jobs but might be open to future roles.
• Send out periodic updates or newsletters about future job openings or industry insights.
• Maintain records of candidate interactions to keep your talent pipeline warm.
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Why Does Working On Your Employer Branding Matter?

Around the globe, reserach suggest that talent shortages will be at a 10-year high by 2030.

it’s predicted more than 85 million jobs could go unfilled because there aren’t enough skilled people to fill them.

Establishing yourself as an employer of choice (now, not later) is essential for attracting top talent in the long run.

Employer Branding means highlighting your company culture, retention rates, and career advancement opportunities. You can learn more about Employer Branding here.

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Step 5: Evaluate and Refine Your Applicant Pool Regularly

A well-curated applicant pool isn't static—it requires ongoing evaluation and refinement.

Regular Updates:

• Continuously add new talent while pruning out those who no longer meet your job criteria or have moved on to other opportunities.
• Perform a regular pool of applicants tests and reviews to ensure you're attracting the right people.
• Measure the candidate experience by sending out surveys to those who've gone through your application process. Ask for feedback on your job postings and interview process.

You should also work closely with your hiring managers to discuss future positions or changes in job requirements. This will help keep your pool of candidates relevant and ready for future roles.

HR experts from SHRM found that companies that frequently update their candidate pools reduce hiring time by 25% and improve the quality of candidates by 20%.
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What Are 5 key Statistics On Building A Pool Of Applicants?

Growing a pool of applicants is one of the most crucial modern hiring steps.

Here are some key statistics:

1. According to iCIMS Hiring Insights (2023), companies receive an average of 250 applications per corporate job opening, but only 2% of applicants receive an interview
2. LinkedIn's Global Talent Trends Report indicates that 89% of candidates say they're more likely to apply to a job if the employer actively maintains their talent brand
3. The Undercover Recruiter reports that job postings with videos have a 34% higher application rate than those without visual content
4. Based on Glassdoor's research data, companies with a strong employer brand see a 50% reduction in cost-per-hire and receive 2x more qualified applicants
5. According to CareerBuilder's Candidate Experience Study, 70% of job seekers are willing to join a company's talent pool if they aren't selected for their initial job application, provided they had a positive application experience

FAQs

What's the fastest way to build a candidate pool?

Use highly engaging media like Video to build your Employer Brand, then leverage multiple sourcing channels like social media, employee referrals, and niche job boards.

How can I improve my applicant tracking system?

Look for user-friendly ATS platforms that streamline filtering and candidate management.

What if I'm attracting unqualified candidates?

Review and tighten your job descriptions to better communicate your basic requirements and screen for key skills early on.

How often should I update my candidate pool?

Ideally every 3 to 6 months. Frequent updates keep your talent pool fresh and ready for future hiring needs.

Should I include salary in my job postings?

Yes, candidates prefer transparency. It improves application quality and candidate standards.

How do I attract passive candidates?

Build relationships through Candidate Relationship Management and reach out on platforms like LinkedIn.

What's the best way to gauge candidate quality?

Conduct thorough, structured interviews and consider using pre-employment tests to assess both technical skills and personality traits.
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Conclusion

By following these five steps, you'll not only grow a strong applicant pool but also ensure that your recruitment efforts lead to the best possible hires.

Implementing these tactics will reduce recruitment costs, improve hiring time, and increase your chances of finding the perfect candidate.
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Use Vouch to Build Your Pool of Applicants

Loved by companies like Canva, Nike, Cisco, Stryker, HubSpot, Amazon, and more, tools like Vouch make leveraging Video in your business remarkably easy.

Book a Vouch demo today and chat with a video content marketing expert.