Talent acquisition is a foundational element of your organization’s success, and drives everything from company culture to profitability. The people you hire have a significant impact on the product or service you offer, the satisfaction of your customers, the reputation of your brand, and the atmosphere of your work environment.
Implementing an effective talent acquisition process to secure top talent is an investment that has the potential to improve every aspect of the way you do business.
What is talent acquisition?
Talent acquisition is a strategic approach to finding, identifying, and selecting qualified candidates for open positions. It’s usually the responsibility of human resources professionals and technically includes each step of the hiring process, including sourcing, interviewing, and even onboarding.
However, the most effective TA strategies have a big-picture perspective and include less obvious steps of the process, such as building a desirable employer brand, improving the candidate experience, and prioritizing relationship management in an effort to attract and retain high-quality candidates.
Recruitment vs. talent acquisition
Recruitment and talent acquisition may seem like interchangeable terms, but there’s some nuance that differentiates the two.
The recruiting process involves the tasks associated with hiring for open positions. Writing job descriptions, publishing job postings to job boards and identifying potential candidates are all examples of recruitment-related activities.
Talent acquisition involves implementing a strategy for long-term human resources planning and is designed to attract and secure the best talent with specific skill sets or experience and the ability to grow into bigger and better roles within the organization in the future.
Recruitment falls under the umbrella of TA, however, talent acquisition is an ongoing process of networking, outreach, and relationship-building versus hiring for a specific position.
The talent acquisition process
Creating an effective TA process requires more than crafting thoughtful interview questions. Get started by considering the following aspects of the Pragmatic Recruiting Framework:
- Product: Understand your company, culture, and what a “good” candidate means to you.
- Audience: Understand what motivates the right candidates and how your company can meet their needs.
- Messaging: Craft an employer brand that positions your product as a compelling proposition for job seekers who are part of your intended audience.
- Programs: Create go-to-market programs that place your opportunities in front of the right audience.
- Readiness: Ensure your organization’s ability to execute on your selection process.
Once you develop a talent acquisition strategy, you need to build talent pipelines, create positive employer branding, and focus on talent relationship management.
An applicant tracking system can be a valuable tool to manage the logistical aspects of talent acquisition.
Benefits of talent acquisition
The primary benefit of creating and implementing this strategy is obvious: It optimizes the hiring process in a way that increases your odds of hiring top talent.
However, there are many advantages of having well-defined parameters for what you’re seeking in new employees. Creating a streamlined workflow that results in the best new hires available helps build the business you want.
Reduce time to hire, increase retention rates, improve talent management, and fortify company culture with an intentional staffing plan that prioritizes the core values of your organization.