In a U.S. Chamber of Commerce Foundation blog post (which originally appeared in Forbes,) author Cheryl Oldham stresses that “40 percent of employers report they can’t fill open positions and only 35% of employers feel college graduates are sufficiently read for the entry-level jobs in today’s workforce.” To face this problem, employers must engage in new strategies to strengthen talent pipelines.
One such strategy is Talent Pipeline Management (TPM). TPM provides an organized structure through a “playbook” that allows employers to build talent pipelines by connecting with education partners. Over 1,500 employers in 26 states have begun using TPM. This includes West Michigan employers, who are in the early stages of implementing the system.
A new tool to support strong talent pipelines
Oldham notes that in addition to employer engagement problems, hiring gaps are often the result of a lack in technology infrastructure. HR tools “struggle to keep pace” with today’s “increasingly dynamic labor markets.”
In addition to this difficulty, employers need better tools to screen applicants effectively as well as clearly articulate their particular talent needs. Because of these problems, the Job Data Exchange (JDX) was created. JDX is a program that will “design new standards for job descriptions and a digital library of open source ‘job data’ resources.” This allows employers to clarify specific hiring requirements to the system that aligns with the way educators and job seekers talk about skills.
JDX and similar initiatives are important because they strengthen the talent pipeline by further connecting education providers and employers. As the blog states, these types of innovation allow situations in which “education providers knew in real time when an employer updated the skills required for a certain position, like they were making the edit in a shared Google Doc.”
TPM and JDX are just two tools that employers can use to address their hiring issues. West Michigan employers can connect with HireReach to learn about Evidence Based Selection Process, for example. Or, check out LEADR Exchange to learn about leading practices used by other employers in West Michigan to address talent attraction, development, and retention.
What tools do you use to strengthen the talent pipeline? Let us know on Facebook, Twitter, or LinkedIn.
