| A talent pipeline is a group of job candidates who are able to immediately step in and fill an open position. A pipeline typically consists of employees who have been identified as prospects for advancement or they may be external candidates who have been partially or fully prequalified. Depending upon the company, contingent workers may also be part of an organization's talent pipeline. The benefit of maintaining a talent pipeline is to ensure an organization can fill both anticipated and unexpected openings quickly. Advertising for candidates, collecting job applications and resumes and conducting interviews may be enough for many organizations to keep the talent pipeline filled, but this isn't necessarily true for in-demand and highly skilled occupations. This is why companies in some industries focus on developing relationships with students very early in their college careers, offering paid internships and part-time jobs in corporate-sponsored research labs. Creating a talent pipeline requires human capital management and workforce planners to consider what the workforce needs to be in months or years ahead, taking into consideration anticipated growth, turnover rates, training needs and succession plans. All of these efforts must be supported by back-end technologies, including recruiting management systems and applicant tracking systems. The terms talent pipeline and talent pool are sometimes used interchangeably, but generally, a talent pool consists of people who have been identified as prospects but have not been vetted for a particular opening.
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