Applicant pool definition

An applicant pool refers to all individuals applying for a job by submitting resumes or applications. Its size is shaped by factors like job requirements, experience, skills, pay, and application process. It includes diverse applicants, from less to highly qualified. Employers evaluate, interview, and select from this pool using tools like the applicant tracking system. 

Types of applicant pools

Choosing the right pool type hinges on the role’s requirements, succession planning, and the organization’s growth goals. Each pool brings unique advantages, aligning with diverse hiring strategies and priorities. Here are the three types of applicant pools: 

• Internal Pool: This includes current employees within the organization. Hiring from within can be great for maintaining company culture and rewarding employees’ growth.

• External Pool: This consists of candidates from outside the organization. It widens the options and brings in fresh perspectives and skills.

• Hybrid Pool: This combines both internal and external candidates. It’s a balanced approach, leveraging existing knowledge while introducing new ideas.

The importance of building and managing applicant pools

Building and managing pools holds several recruitment advantages. Firstly, they align candidates with job roles, saving time and costs. Moreover, incorporating pre-employment tests in a larger pool streamlines interviews by identifying top candidates. Additionally, these pools reduce turnover risks by ensuring suitable matches and fostering workplace stability. Furthermore, applicant pools promote diversity by focusing on skills, lessening bias, and contributing to inclusivity. In conclusion, well-curated applicant pools enhance candidate quality, maintain a stable workforce, and foster a diverse and productive environment, ultimately benefiting the organization’s success.

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