In an increasingly dynamic and competitive job market, organizations looking to hire high-quality Talent Acquisition are having to review the approach they take to meet their objectives.
The success of any organization, small or big, deeply roots into the quality of its Talent, which is in turn closely tied to its hiring strategies. The approach HR takes to hire employees can drastically affect organizations and their productivity, but acquiring the ‘right’ Talent is a challenging task. Employers must set clear objectives and outline the message they want to convey to potential candidates.
In order to facilitate effective long-term hiring strategies, organizations are gradually transitioning from Recruitment to Talent Acquisition. While the two appear synonymous, they are markedly different in their objectives and methods of implementation.
Understanding the difference between the two can help HR and Leadership Teams recognize Talent better during the hiring process.
Recruitment refers to the process of finding and hiring the best-qualified candidate for a job opening, in a timely and cost-effective manner. It is essentially the process of filling vacancies; an entirely tactical event.
Talent Acquisition refers to the process of finding and acquiring highly-skilled Talent for organizational needs. It goes beyond filling vacancies; it is a strategic approach to attracting, sourcing, recruiting, assessing, hiring and on-boarding the best talent to meet business objectives.
The major difference between Recruitment and Talent Acquisition can be compared based on several elements:
1. Time period
Recruitment represents short-term action, whereas the latter involves long-term planning. Recruitment tends to be tactical, and Talent acquisition is more strategic in nature, which helps the organization to find targeted talents for the future.
Talent acquisition strategy requires a lot of planning. Unlike recruitment, talent acquisition requires a deeper look at the nature of the organization and understanding its needs better. It’s a forward-thinking approach, looking through a wider lens, which takes into consideration both the local and global job markets.
3. Talent hunt
Talent acquisition involves sourcing and engaging candidates through multiple channels based on a variety of factors. TA takes a more holistic approach to attracting, hiring and retaining Talent. Recruitment is a fairly linear process that does not focus on too many aspects outside of filling vacancies.
Evaluation is important to determine the effectiveness of talent acquisition and to ensure that the organization’s objectives have been achieved. In recruitment, evaluation of the efficacy of the process is limited.
In essence, recruitment is a subset of talent acquisition. Talent acquisition is a broader approach that’s geared toward building relationships and anticipating future hiring needs of the organization. While recruitment remains an important activity to fill immediate vacancies, talent acquisition is a long-term strategy to make hiring more efficient and more productive.
Benefits of Talent acquisition
In most cases of Strategic Talent Acquisition today, HR hires for positions that do not even exist but are expected to become available in the future. Taking the long-term strategic approach to talent acquisition has a huge impact on how an approach is made to a candidate. A successful talent acquisition strategy doesn’t just fill an organization’s current vacancies effectively. It also anticipates the skills and qualifications an organization will require as it grows. Human Resource managers always maintain a pool of desirable prospects. When a position opens up, they are able to fill it with a qualified candidate who is enthusiastic about the organization’s work and can become a leader, specialist, or team member working towards the future goals of the organization, accordingly.
Candidates sourced through a talent acquisition strategy tend to have more diverse skills, as they are not hired based on just immediate necessity. HR explores various skills of the candidates which can add to the productivity of the organization. The candidates will also have the ability to take on new responsibilities and be meaningful contributors to cross-functional Teams.
Talent Acquisition also emphasises on consistently promoting organizational culture to potential candidates. Candidates can be incorporated into the brand easily if they are already aware of the organization’s work culture. It can stimulate like minded employees to work together easily. This can build the organization’s reputation and will increase branding.
The best talent acquisition strategies affect the operations of the entire organization as much as they impact the human resources department. Acquiring the right Talent can be challenging, but the rewards of a well-constructed hiring strategy can be enormous. By doing so, human resources can be one of the drivers of corporate success and an integral part of the team propelling the organization to achieve sustainable growth.
Talent acquisition takes more time up-front, but in the end, it helps to build the best possible Team for the organization. Commitment with grit as its constituent makes all the difference. Talent acquisition is about implementing strategies that invest in the right resources at the right time.