Successful talent acquisition is indeed one of the most significant drivers of the overall success of a business. Hiring managers, recruiters, sources, and HR professionals -all of the components make up for successful TA or Talent Acquisition. It is an integral organizational task that is concerned with finding the right person for the job. In the given corporate setting, talent acquisition falls under the HR umbrella. It involves the processes of sourcing, attracting, selecting, hiring, and onboarding potential employees.
There is no denying the fact that talented teams make successful organizations. If you wish to observe improved organizational performance or wish to outperform your competitors, then you need to adopt an effective TA or Talent Acquisition strategy.
What is Talent Acquisition?
Talent Acquisition can be regarded as the strategy utilized in the process of recruitment. It primarily focused on processes related to finding, attracting, recruiting, growing, and retaining the best talents within an organization.
In simpler words, it can be referred to as a structured and planned series of actions that the HR department of an organization should implement to get access to the best employees available out there.
The main concern is that given the resources, labor situation, market position, and other competitive factors, how and where can you get talented employees.
Importance of Talented Acquisition
The ultimate reason for talent acquisition is competition. As per a recent survey on employee assessment, it has been observed that around 50 percent of employees feel that they have a relevant career. On the other hand, the remaining 50 percent feels that they only have a job. Moreover, 32 percent of employees have plans of changing the current job.
This suggests the overall unease amongst modern employees regarding the ongoing employment situation. It could only lead to additional supply that will come online for new job opportunities. At the same time, a monthly report from another study offers suggestion from another paradigm to the competitiveness factor. One of the biggest factors for small businesses is coming across qualified workers for the open positions.
While you might come across inadequate pool of workers to select from, fulfilling open positions with the best talent is a difficult process. As a small business owner, you are expected to strategize to hire the best talent -either externally or internally. This does not imply providing potential employees more money to hire them into your organization.
Understanding the Working of the Talent Acquisition Process
To get an understanding of talent acquisition, you should take a look at the ASA or Attraction Selection Attrition strategy by Schneider. Schneider goes forward with describing how the given interrelated forces analyze the type of people that will work in the organization:
- The first aspect is Attraction. Job seekers can think of applying to all possible organizations. They only end up selecting the ones that they wish to work for. It is because the organizations are able to differentiate themselves depending on the number of factors. Some instances include a stronger employer brand along with a strong value proposition for workers.
- The next aspect is Selection. Once a job seeker will apply, it is the responsibility of the organization to choose the candidates aligning with both the organization and roles. It is all about person-organization and person-job fit.
- The third aspect is Attrition. If there is no fit between the organization or job and the candidate, the candidate will end up quitting. This implies that the organization will only think of retaining individuals who are congruent of the respective makeup and characteristics of the organization.
Best Practices for Talent Acquisition
The best practices for talent acquisition are core strategy pillars that will help in driving the success of your talent acquisition process. For the best-ever outcomes, you can come across reliable talent acquisition solutions by FutureSolve. Its Hiring Hub feature allows organizations to find pre-qualified and pre-screened candidates from the best-available hiring platform.
- Employer Brand: One of the important factors to ensuring a successful talent acquisition process is ensuring a strong employer brand. A reliable employer brand can help in attracting the right talent. It also helps in driving maximum employee satisfaction. It will result into important business and HR outcomes. It is important to know how HR and recruitment become synergetic while aligning the execution of the long-term strategy of the organization.
- The Structure of the Talent Acquisition Process: The structure of the core process is the foundation of the talent acquisition success. A relevant method is to map the entire process while identifying the current practices and challenges through every stage. Then, you can sit down to analyze how the given stages can be executed in a business-centric fashion.
Business-centric processes focus on how you can effectively deliver a proven and clear added value to the business across every stage. It also helps in understanding how the process can maximize the positive effect on the business.
- Workforce Planning and Forecasting: Decisions related to talent acquisition are influenced by workforce and organizational developments. This implies that workforce planning is an important step in ensuring a successful talent acquisition strategy. Moreover, when you are in permanent contact with your recruiters or hiring managers, it helps in obtaining a stronger grip on what recruitment workload can be expected within the upcoming weeks or years.
The recruitment team will then anticipate what is upcoming and how your organization can achieve success in hiring the right talent at the right time. This is the reason why workforce planning is an important skill and assists with forecasting.
There are several important aspects in the creation of a successful talent acquisition strategy. The ultimate goal is to bring the respective talent acquisition capabilities along with different sub-parts of the process. Recruitment is involved across all major steps of the organization. It helps in delivering a clear and proven added value to the business. It will also deliver a strategic workforce plan for the long-term to be fully integrated with your HR practices.
You may be interested in: How your business can achieve quick and sustainable growth