Talent acquisition is strategic approach to identifying, attracting and on-boarding top talent to efficiently and effectively meet dynamic business needs. Recruiting is more tactical and tends to focus mostly on immediate hiring needs.
Talent acquisition has more strategic intent of bringing in talented workforce in certain critical positions and role in the company throughout various levels of hierarchy so as to facilitate in the overall achievement of company goals and objectives.
Talent acquisition takes a long-term view of not filing positions today, but also using the candidates that comes out of a recruiting campaign as a means to fill similar positions in the future.
Talent acquisition involves process of finding, attracting and engaging highly talented individual into the organization.
What is Recruitment and Talent Acquisition?
Recruitment is a linear process where a position is vacated or created and a new person must be found to fill it. Its core function is to find candidates for existing jobs that are currently available. It is carried out in campuses of many colleges and off campus. The in campus process involve going through various rounds by both the recruiter and the candidates. Off campus process is carried by majority of the companies, which post about their vacancies on their official websites and also on many sites like naukri.com. After receiving applications, the whole process of selection and filing up the vacant post is carried out rigorously. This process is completely different from talent acquisition.
Talent Acquisition is a cyclical process and is tailored towards building relationships, anticipating future hiring needs and creating a sustainable pool of candidates. It is strategic process which helps in developing and nurturing a talent pipeline fulfilling long-term needs.
Talent acquisition includes recruiting, but it is inclusive of other strategic elements as follows:
Talent Acquisition Planning & Strategy – ensures business alignment, examines workforce plans, requires an understanding of the labor markets, and looks at global considerations.
Workforce Segmentation – requires an understanding of the different workforce segments and positions within these segments, as well as the skills, competencies, and experiences necessary for success.
Employment Branding – includes activities that help to uncover, articulate and define a company’s image, organizational culture, key differentiators, reputation, and products and services. Employment branding can help advance the market position of organizations, attract quality candidates and depict what it is truly like to work for that organization.
Candidate Audiences – necessitates defining and understanding the audiences in which an organization needs to source for specific roles. Different sourcing strategies should be applied based on the understanding of the jobs and where the audiences will come from to fill them.
Candidate Relationship Management – includes building a positive candidate experience, managing candidate communities, and maintaining relationships for those candidates not selected.
Metrics ; Analytics – is the continuous tracking and use of key metrics to drive continuous improvement and to make better recruitment decisions, to ultimately improve the quality of hire.
KET GOALS OF THE PROCESS ARE TO:
Attract talented individuals to work for the organization.
Complete the full cycle from planning to deployment in a timely manner.
Place the right people in the right positions.
Ensure a pool of readily available talent.
Understanding the demographics of workforce both current and future.
Identification of economic issues which have an impact on the organization’s sustainability.
Identification of organizational and cultural issues which influences the talent acquisition.
Knowledge about industry trends and emerging issues
The following are some of the basic strategies adopted by various organizations for the talent acquisition:
Identifying high performers and fixing of certain indicators for success.
Maintaining a good network of connections with other companies and motivating the employees to interact with them.
Cooperating with managers for developing profiles of high performers.
Finding out the choice of firms in which these high performers like to work. This can be done by advertisements towards attracting them, focusing on Competitive Intelligence (CI).
Maintaining a database of candidates list selected through the above methods, which can also be shared with others.
Developing a talent review process for identifying and developing potential talent within the organization. This can be done by conducting periodical performance review of the employees, providing feedback to the employees regarding the report by highlighting on their strength and weakness.
Creation of strategies for development of talent through training, career paths, mentoring and coaching.
Assigning the top performers with new challenges, responsibilities and the tasks which they are keen on performing.
Encouraging less performing employees for improving their performer by guiding on the areas in which they need improvement.
Encouraging employees for further education to improve their talents and skills.
Searching for new talent while improving the performance of the existing ones.
Searching for new employees using outside industry contacts by scouting for talented people and attracting them to work for particular industry.
Giving employees new challenges and opportunities to explore themselves and help them with the organization.
Encouraging blogging and networking across different sites to attract the potential talent.
DESIGNING AND IMPLEMENTING TALENT ACQUISITION STRATEGIES:
Identifying the choice of employer chosen by high performers.
Collecting the views of different age groups on recruitment.
Evaluating talent acquisition tools and patterns.
Distinguishing considerations while implementing the strategies.
Learning from past experience.
Evaluating of performance metrics.
Defining strategic talent acquisition.
Evaluating the HR strategies, policies and practices that support and aid Company’s strategy.
Designing important elements required to be incorporated.
Practical application of the strategies.
Continuous learning of current trends and practices in attracting and retaining talent
Having a clear understanding about the prospective employees, competencies, profiles, duties and responsibilities.
Having a clear idea about the perfect candidates.
Conducting meticulous talent review process periodically.
Recent trends in talent acquisition: