Many hiring managers and job seekers likely find themselves wondering why the perfect fit is so hard to come by. We see you nodding your head. The entire concept of talent pipeline management completely changes the game by shifting from reactive hiring to proactive planning.
For too long, the focus has been on reactive hiring, like putting out fires. What if companies took on the supply chain problems themselves? Building talent pipelines aligned to needs using talent pipeline management helps businesses thrive.
Table of Contents:
- What is Talent Pipeline Management?
- Talent Pipeline Management: Employer-Led Pathways
- Benefits of TPM for Employers
- How US Chamber of Commerce TPM Helps
- FAQs about talent pipeline management
- Conclusion
What is Talent Pipeline Management?
The U.S. Chamber of Commerce Foundation created Talent Pipeline Management® (TPM) to develop an employer lead path for building good talent pipelines. Built for and by business, TPM uses multiple tools to create supply chains. These connect workers to new 
The TPM Academy, helps facilitate all these opportunities. The TPM framework makes a big difference to build pipelines. Let’s dig a bit further.
Breaking Down the US Chamber Talent Pipeline Management
The U.S. Chamber of Commerce Foundation knew a change had to be made to the existing approach. The basis of this whole strategy is built on six different points. Let’s break them down.
These strategies aim to reinvent traditional processes by helping to do the following:
- Organize employer leadership.
- Project out those critical jobs.
- Match jobs together.
- Find and look at all the talent supply.
- Connect the dots for that talent.
- See if it works.
It’s like planning a road trip, focusing on clear career pathways. Knowing where your business is going helps match workers to opportunities. It’s not about filling open positions, it’s about fostering long-term growth.
Idaho’s Approach to TPM
Idaho has embraced the approach that the U.S. Chamber has put out. So what’s TPM looking like for Idaho? Idaho is taking the TPM principles and applying them at state and local levels.
The great part of Idaho taking on the approach, is the different avenues and areas to improve it. One such improvement? The food processing industry.
Several companies have built out a partnership and pathway at the College of Southern Idaho. Through TPM practices, many companies can have shared benefits. Imagine that, working with businesses in a collaborative form, not competing for the talent.
Talent Sourcing Issues
Old style sourcing is messy and a bad system. It burdens workers with figuring everything out alone. In a 2023 study, 94% of people who are invested in by companies, would remain with the business longer.
TPM changes this by connecting education leaders with students. This fosters a proactive approach to talent development.
Talent Pipeline Management: Employer-Led Pathways
The world moves fast, so companies and hiring have to move faster. What impact would planning for new challenges have? By preparing now, companies can face future obstacles more effectively.
By taking initiative now, states like Vermont are leading a path to the future. Employers building relationships now and educating students or current staff early on gives clarity. That goes a long ways toward better satisfaction in the long term.
Different Types of TPM
Talent pipeline management takes multiple roles depending on employer and state needs. It helps keep everyone informed and prepared. A proactive strategy like a project pipeline management for project planning, shows you care.
These can be adapted, grown or shrunk as business changes. Keeping everyone informed helps in adjusting to business needs.
The Evolving State of Workforce Requirements
What worked yesterday won’t always work tomorrow.
The World Economic Forum shows nearly half of all employees will need reskilling before 2026. The writing’s on the wall.
Skills and traits are going to change rapidly in the next couple of years. How do you stay on top of these changes?
Benefits of TPM for Employers
The advantages of building this structure are far reaching. It’s a way to stay nimble and get great results.
Let’s go over several that you can find below:
| Factors | Description |
|---|---|
| A plan, always. | Having a continuous plan for talent acquisition and development. |
| Be authentic, don’t copy. | Developing a strategy that is based around business needs. |
| Great details matter. | Focusing on the details to get better connections between employers and employees. |
| Collaborate with the system. | Working with educational institutions and other partners to support growth. |
| Better value across everything. | Improving the value of talent initiatives, benefiting both the company and the employees. |
Continuous Improvement and Talent Resiliency Planning
The end goal goes far deeper then just training for a role or for new hires, it looks further than that. What if there’s better ways to plan and improve it? The whole point is optimization.
A proper talent pipeline that is good will weather business and economy ups and downs. It also provides stability during uncertain times. This proactive strategy changes everything.
Key Industries Using TPM
What areas can utilize TPM for better employee satisfaction and growth?
The truth, all industries need to prioritize using TPM. Here’s a variety of sectors that can make improvements:
- Health care
- Information Technology
- Building
- Education
- Broadband
How US Chamber of Commerce TPM Helps
Imagine not going down dead end job postings or interviews that don’t deliver anything? Think how those roles could have gone to a candidate growing with a business.
The North Carolina Chamber of Commerce has used TPM programs to strengthen employer-employee relationships. It starts by identifying jobs, requirements, skills, education, and finding good resources.
TPM Training and Coaching
Imagine setting new employees free of debt while giving them pathways to new positions? Pretty big win all around.
TPM Co/Lab has built a platform so people have on-demand help 24 hours a day. A demand-driven strategy combined with actionable data transforms the future of workforce development. What will the future hold for young adults seeking careers?
FAQs about talent pipeline management
What is talent pipeline management?
Talent Pipeline Management (TPM) is a method built to use practices to fill workforce development needs. It’s created from several different strategies by the U.S. Chamber of Commerce Foundation.
What are the five stages of talent management?
Talent management is a process that helps companies and candidates connect. There are different ways to see talent management. Typically, it’s about finding, training, and keeping talent happy.
What is pipeline management in recruitment?
Pipeline management in recruitment organizes how workers can be placed. It gives candidates and employers transparency. This helps everyone.
Conclusion
Robots shouldn’t be seen as taking all our positions, they should do quite the opposite. Robotic assistants doing simple tasks free us to pursue exciting and impactful work. What if our work becomes more fulfilling?
Companies working together is the future of hiring through better “talent pipeline management”. Building high-performing teams helps companies. The TPM movement creates more opportunities for businesses.
