Talent acquisition is the procedure employed by employers to the process of recruiting, tracking and interviewing potential employees as well as onboarding and informing new employees. It’s usually the responsibility of the human resource (HR) department.
The process of acquiring talent typically includes separate software or components within more comprehensive Human capital management (HCM) systems to help in automatizing the hiring and recruitment process. Software products in this class are sometimes referred to as systems for managing recruitment.
The process of acquiring talent is typically regarded as a method of strategic planning for the beginning stages of management of talent, the process employers employ to hire employees, deploying, and training, as well as reviewing the performance and pay of their employees.
Why is it important to acquire talent?
It is crucial to recruit talent because recruiting and retaining the best individuals is an essential part of a business’s plan for success and directly impacts the future performance of the business. Without the right staff an organization is more likely to be struggling with low performance, poor decision-making, and an unmotivated workforce. These issues make it hard for businesses to stay steady in a highly competitive marketplace.
In addition, it is an innovative process. Instead of hiring someone to fill a vacancy A team of talent acquisition is able to consider what the potential job-seeker’s future career paths could take within the organization. In the end, talent acquisition in Singapore makes sure that the company employs individuals who may ultimately become managers and higher-level managers within the company. So, the task of acquiring talent is less about filling vacant jobs and more about establishing an overall strategic plan that will be used to fill future openings.
A successful strategy for acquiring talent will also lower the risk for the company, as it decreases the likelihood of making a bad hiring. This means that it saves the time and money that would otherwise be spent on training employees who aren’t the best, and increasing productivity.
Talent acquisition strategy
Processes for acquiring talent typically include six steps:
lead generation and source
Recruiting
Assessments and interviews
Reference verification
Final hiring decisions
Onboarding
Teams can select from a variety of strategies for acquiring talent. Examples of this include the following:
Develop a brand that is strong. Make sure that the company’s web site and culture as well as social media profiles are appealing to both potential and existing job applicants. The branding process is typically handled by departments of HR, marketing, and communications department. It is a significant factor in attracting the most skilled candidates.
Create job descriptions that are as precise as is possible. Candidates’ requirements must be clear and clearly define the type of candidate that is ideal. This will increase the chances that the business will be able to find what it is looking for.
Develop outreach for the company. Different job roles and skill sets require teams for talent acquisition to utilize different methods of recruiting talent. Instead of using job websites that are general purpose such as LinkedIn or Monster for example, companies should utilize special jobs boards and networking activities, and academic programs. When the best methods have been discovered, teams must focus on building relationships with the best talent within each group. This will expand the pool of candidates and the awareness of the brand’s employer which will make it easier to find prospective candidates.
Make use of data analytics to boost the process of acquiring. Talent acquisition can be viewed as a campaign for marketing since providing a positive experience and convincing potential candidates that they are a good fit for the organization is as crucial as convincing customers to purchase items or products. Data analytics can show the source of top talent within the organization came from, whether specific questions are hindering applicants from submitting applications and whether including an interview video about the company’s environment will boost applications. In the end, data analytics can help ensure that the jobs descriptions as well as career sites are drawing the right kind of individuals to the business.
Software to acquire talent
Employers, including small, medium, and large businesses and non-profit and government agencies are able to choose from a variety of acquisition technology options to select if they want to automatize hiring.
Certain employers choose to use the use of talent management software including Oracle Taleo Cloud. These programs are typically offered through software as a service (SaaS) platforms, and provide the ability to acquire talent, perform management as well as compensation and learning management tools.
Other large talent management vendors include SAP with its SuccessFactors software, IBM Kenexa; Cornerstone OnDemand; SilkRoad; and UKG (formerly Ultimate Software and Kronos). Numerous smaller and startup vendors also have integrated systems for managing talent.
Another option employers can take is to utilize specific talent acquisition or recruitment software offered by vendors like Recruitee, JazzHR and MightyRecruiter.
Job boards
Another alternative for recruiting talent is job boards or job market places, like SimplyHired, ZipRecruiter and Indeed where employers can post job openings. The long-standing participants in this market are Monster as well as Glassdoor.
At the very least, one vendor named Hired reverses the procedure, offering jobs boards-like systems where job seekers are able to accept invitations for meetings from potential employers.
Furthermore, big technological and social media players like LinkedIn and Google are also on the marketplace with excellent job-matching capabilities as well as business networking and job search options. Recruitment specialists and talent acquisition specialists frequently use these platforms as part of their social media strategy for recruiting.
Onboarding
When a candidate is hired and is then made employed, the employers are able to offer digital alternatives to traditional paper-based post-hiring procedure commonly referred to as onboarding the next step in the process of acquiring talent.
Employee onboarding includes enrollment in benefits online, welcoming emails and team introductions as well as signing up for employee engagement and wellness programs.
Major HR technology companies like Cornerstone OnDemand, Oracle and SAP provide onboarding capabilities and smaller HCM suite providers like Zenefits and Namely along with ERP vendors like NetSuite.
Acquisition of talent vs. recruitment
Although recruitment and the acquisition of talent have a common goalthe need to fill jobs, they differ by a variety of distinctions. The most significant difference is that recruiting is focused on the current moment within the company while talent acquisition focuses on the future of the business.
In other words, the recruitment process is more concerned with filling a vacant post as quickly as is feasible and talent acquisition provides more thought to the goals of the company and will take the time to identify the most qualified candidate that best matches the company’s needs. To see this from a broader angle Talent acquisition teams look at the skills and abilities of potential employees, in addition to their future potential development and contribution to the corporate organizational culture.
Smaller differences are in addition to the main difference. These are:
The process of acquiring talent usually takes more planning and time than recruiting.
Talent acquisition employs data analytics and metrics to help improve the recruitment process and help make better and more informed hiring decisions.
Talent acquisition is dependent on the teams’ understanding of the various functions and areas within an organization and the necessary skills and experience to be successful in each field. Recruitment companies pay less attention to these specifics.
Talent acquisition is more focused on finding the most effective places to find the best talent for specific jobs , and developing relationships with individuals across these fields. The recruiting process is more likely make use of a general purpose job search site , and is not spending the same amount of time in managing relationships with prospective or past applicants.
In the end, while the recruitment process is linear and reactive the process of acquiring talent is strategic and cyclical. Recruitment is focused on meeting the current needs, while the acquisition of talent is focused on creating an effective pipeline of talent to anticipate future demands.
Talent acquisition specialist job description
A talent acquisition specialist could be defined as an employee that focuses on finding, identifying and hiring particular kind of employees. Specialists in talent acquisition are typically employed by companies operating in market that is expanding and evolving in areas like finance, healthcare and tech.
The responsibilities of a talent acquisition specialist are:
developing a highly qualified and diverse workforce;
managing and participating in networking and recruitment events such as job fairs, conferences and conference;
in advance of each department’s recruitment needs.
working with HR and hiring managers to determine the need for staff;
making job descriptions and interview questions specific to each job opening
The selection criteria to be used for open positions
Analyzing resumes and applications for candidates;
offering managers feedback on application and resumes;
finding talent online through channels, like LinkedIn, Facebook and professional networks;
Planning interview and selection methods including all the steps from screening to the offer of employment;
developing relationships with prospective candidates as well as previous applicants.
working in partnership with managers to assure that hiring procedures are fair and ethical;
conducting interviews with applicants in the beginning to determine their level of interest as well as their personality and pay expectations.
making sure that the process of onboarding is smooth and that new hires swiftly complete all the necessary documents.
The requirements for a talent acquisition specialist usually require a bachelor’s degree in a discipline related with human resource managementtypically with a concentration in management or talent acquisition and at least five years of prior HR experience. Experience with the entire cycle of recruitment, Microsoft Office applications, professional networks, resume databases along with social networking platforms are essential.
The majority of employers prefer candidates who have direct experience in screening job applicants and hiring practices. Some companies prefer candidates who have demonstrated proficiency using an application tracker (ATS) and the human data system (HRIS). Employers may also be looking for candidates who are aware of the labor unions, state laws regulations and practices in addition to contracts, including nondisclosure agreements and service-level agreements.
