Talent pools are basically elite groups of employees that are formed on the basis of high performance and high potential.
They are groups that are being developed to take on a higher responsibility in a specific area. They comprise the foundation for best-practice talent pool-based succession planning. Here are a few pointers that will help you understand how talent pools can be created in your organisation.
“when the opportunity presents itself and there is a new opening, scan your talent pool for someone to fill in the position”
First Create a Blueprint
First of all, you need to identify the areas and roles that have contributed immensely towards the success of your organisation in the present time. You also need to figure out the areas and responsibilities that will contribute towards the success of the organisation in the future. Next, you need to develop a leadership talent pool and a pool that can be developed for middle management. Of course, this would depend on the size of your organisation.
Apart from all this, you need to identify the key areas of specialisation that your company will require to maintain its competitive advantage in the market and also the talent or expertise that would be required to compete in a new market. Once you have analysed these aspects, you will have a clear idea as to what kind of talent pools you will need to create.
Developing your Talent Pool
Once you have selected your talent pool, you need to develop your talent pool and prepare them for moving into a different position. They will need to be trained to take up bigger responsibilities. Give them the opportunity and resources to enhance their knowledge, develop their skills, and grow their experience. You can also put them under leaders or exceptionally high performers in the area. Assess their performances on a regular basis and give them feedback on how they are doing and what they need to do to do better.
Make the Move
Finally, when the opportunity presents itself and there is a new opening, scan your talent pool for someone to fill in the position. You can further use them as mentors to develop new talent pools and share their knowledge and experience among other potentials.