What is talent acquisition?
Talent acquisition is an HR process that involves sourcing and hiring suitable candidates for a company’s current and future labor needs.
Talent acquisition typically involves:
- Formulating and maintaining the company brand
- Drafting accurate job descriptions
- Building a connection with candidates
- Recruiting candidates
- Interviewing candidates
- Selecting new hires
Talent acquisition is a stepping stone to talent management. Acquisition emphasizes finding and hiring individuals to form a robust workforce, while management focuses on employee engagement, retention, and optimal work performance.
Why should HR leaders care about talent acquisition?
The talent acquisition stage enables HR leaders to reduce hiring costs by sourcing, attracting, and hiring people with appropriate competencies to fill job openings and the talent pipeline. Talent acquisition lays the foundation for building a productive, committed, and engaged staff who fuel company growth.
What can HR leaders do to implement a successful talent acquisition program?
As a multi-dimensional process, talent acquisition demands a structured approach. HR leaders can spearhead an optimal talent acquisition program through:
- Creating a strategy. The type of strategy depends on the company’s size. Large organizations need to build a talent pool, hire a lot of people, and rely on automation for resume processing. In contrast, smaller businesses often don’t need a talent pool or bulk hiring. HR leaders can also include methods for hiring internally and those with in-demand tech skills.
- Understanding employment laws. Familiarity with local and national employment laws allows HR leaders to make decisions confidently and know when to turn to an expert. In the US, for example, EEO laws differ from state to state and from federal to local government. Understanding the pertinent employment regulations enables HR leaders to make hiring decisions that align with the law and protect the company’s legal standing.
- Training hiring managers. Hiring managers play a crucial role–they communicate with and interview candidates. Explaining the entire recruitment process can help managers understand the significance of their roles within the greater context of the organization. Moreover, while hiring managers may have the necessary competencies, offering routine learning opportunities can help them enhance their abilities. Training in job description writing, candidate identification, interviewing, and job offering etiquette will equip managers with the skills to bring excellent candidates into the company.
- Integrating upskilling. With tech driving a fast-paced work world, HR leaders may find it more financially and culturally beneficial to hire within the company. By identifying team members with high potential and creating an L&D program for skill sharpening and progress benchmarking, HR leaders can help people gain desirable skills for promotions and job openings.
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Why should talent acquisition be a part of modern HR strategy?
Talent acquisition, especially for large companies, is a must in today’s rapidly changing market. By integrating talent acquisition into the HR strategy, HR leaders can fill vacant positions while preparing for unexpected circumstances. Rather than ad-hoc searching for suitable candidates, HR leaders can facilitate a constant flow of talent and consistent productivity, even when facing internal or external challenges.