What does Talent Pool mean?
Talent Pool is a database that includes candidate CVs, that were at one point interested in your job opening or were recruited by a headhunting company and sent to you.
Why should companies have a Talent Pool?
Having a talent pool helps startups to save costs. They don’t have to pay for external resources, like a Linkedin Job Ad, when they can simply go through their talent pool to see if they already have someone who is suitable for the job. This process also reduced the time to hire, as it fastens the whole process. Once candidates are chosen from the talent pool, the recruiter places them in the pipeline.
The talent pool is collected and managed in the Applicant Tracking System, or ATS.