Unveiling the Art of Talent Acquisition: Strategies and Insights from a Talent Acquisition Specialist
Table of Content
- Talent Acquisition Process
- Effective Talent Acquisition Strategies
- Tips to Get the Best Out of Talent Acquisition
- Wrapping Up
The success of a business does not only depend on the sales of its products and services, it also depends on the employees they hire. With talented employees working for the company, organizational objectives, culture, and customer satisfaction, everything is aligned in order to achieve the ultimate goal. Finding the best talent from a pile of resumes is quite a difficult task, and that’s where the art of Talent Acquisition gets unveiled.
What is Talent Acquisition?
Talent Acquisition is considered to be the most essential part of human resources. It is a long-term HR policy that encompasses identifying, attracting, and onboarding a skilled workforce that meets the company’s needs more efficiently. Talent Acquisition doesn’t only mean identifying the best candidate and hiring them, but is a more comprehensive task that involves several other aspects, such as building the company’s brand image, identifying its current vacant positions, forecasting future employment needs, engaging top applicants, and so on.
Why is Talent Acquisition Important?
Talent Acquisition is considered to be the most important part of those company that prioritizes their employees over everything. With the right talent acquisition approach, a company could attract success towards them.
The biggest task for a talent acquisition specialist is to create a positive image of the company in the minds of every candidate they encounter. Talent acquisition teams try their best to create a positive experience for every candidate, whether they are hired or not. These strategies add value to the company, which is highly associated with positive brand awareness. In addition, a positive brand image also makes your company an attractive employer in the industry.
As said earlier, a talent acquisition team does not only focus on one task, they handle multiple tasks simultaneously. Talent acquisition teams often have access to certain tools that provide important analytics for the company. These analytics include managing diversity and inclusion goals, identifying current employment needs, forecasting future needs, progress of training programs, performances of new employees, and so on. These analytics help companies stay aligned with their policies and long-term goals.
Hiring, firing, re-hiring, re-training, and recruiting are expenses that cost companies a fortune. It is said that it is twice as expensive to acquire a new employee than to retain one, and to save companies from these costs, talent acquisition teams try their best to hire qualified and efficient employees. Talent acquisition teams ensure that their recruitment process finds the best fit for the job and those candidates that are likely to stay with the company for a longer time. Without proper recruiting and onboarding procedures, most companies get stuck in a cycle of unending turnover, that leads to higher costs, more burdens on existing staff, and frustrations from managers.
What are the Benefits of Talent Acquisition?
Talent acquisition significantly impacts companies’ growth and it helps them keep evolving and emerging with trends. Here are a few benefits that are associated with Talent Acquisition:
Your hiring will be much more efficient when you have a good talent acquisition process. A good talent acquisition process means that from the identification of the ideal candidate to its placement, the entire process is flawless.
Saves Time & Money
Even though the talent acquisition process itself is quite time-consuming, but the main aim of the process is to create long-term goals that helps the company in the future. Through an efficient talent acquisition process, you are going to attract the best candidate and the ones who last with the company for a longer time. Thus, saving time and money on hiring and re-hiring processes.
Having a talent acquisition team can give your company a competitive advantage over others in the industry. As you will be hiring passionate and talented professionals who are also a good culture fit, then your company is more likely to succeed compared to your competitors.
Improves Candidate Experience
As one of the tasks of a talent acquisition specialist is to create a positive candidate experience, and if they succeed to do so, they can attract the best talent from the industry.
A talent acquisition specialist will try their best to reduce the risk associated with your company. They will focus on creating a strategic planning process that will be built around what talent your business needs, and how your team can achieve those results
By promoting diversity, you will have different perspectives and opinions, which can help your company to be more productive in its operations. This also helps in improving your employer’s brand, because when candidates see that you’re making an effort to promote diversity at your company, they’re more likely to consider your company for employment and they will seek to apply for the position.
What is the Difference Between Talent Acquisition & Recruitment?
Talent Acquisition is basically a long-term strategy that forecasts future employment needs based on the current situations. Talent acquisition is mainly used for hard-to-fill positions because their job is to find the best candidate for the position who also tends to last longer with the company. As talent acquisition focuses on a larger picture, it usually takes time to strategize and come up with a strategy. A talent acquisition specialist studies every aspect that is needed to succeed in each area.
However, recruitment is slightly different from talent acquisition. It mainly focuses on short-term goals and aims to fill the positions as fast as possible. As the recruitment process tries to fill positions quickly, it cannot fill senior-level or executive positions, it only focuses on onboarding entry-level roles or interns. When companies focus on volume hiring, then HR is supposed to carry out the recruitment process. Moreover, recruitment processes are not that time-consuming, as they are not required to anticipate future demands or current needs. Recruiters are simply told to hire some number of applicants for a position, and they just carry on with the task.
Talent Acquisition Process
Talent acquisition help companies find, attract, and retain skilled professionals that align with their goals and culture. To maximize the efficiency of your talent acquisition process, you should follow these simple 8 steps, which can be tailored according to your company’s needs.
Step 1 – Workforce Planning
The first step is to identify the needs of your company. Considering your company’s objectives and the industry trends, you need to understand what are your company’s current and future employment needs.
Step 2 – Employer Branding
One of the tasks of a talent acquisition specialist is to create a positive brand image of the company for the outside world. A positive brand image is strongly linked with the company’s culture, if a company has a strong positive image, then people will automatically believe that their culture is also healthy and inclusive, which would eventually drive more qualified and efficient professionals towards your organization. Just to attract high-skilled employees, the talent acquisition team works tirelessly to create a strong brand image.
Step 3 – Candidate Sourcing
After working hard on employer branding, the next step is to search for the ideal candidate. The first step of candidate sourcing is to create a job description that highlights the essential skills and qualifications needed to be competent for the job. Your potential candidate could be anywhere, and in this tech-savvy world, do not be afraid to use digital channels or social platforms to reach out to the candidates. You could also search for candidates over job boards, social media platforms, conferences, networking events, and talent pools.
Step 4 – Candidate Engagement
As said earlier, the talent acquisition team tries its best to provide a positive experience to the candidates. Therefore, this step is also considered to be a crucial step for you. This step also allows you to identify any potential candidate that could be useful to you in the future. This step also gives candidates a platform to hold discussions about your company and its objectives.
Step 5 – Candidate Assessment
Now comes the make-and-break part of the process, the assessment stage. When a talent acquisition specialist posts about a vacant position that needs to be filled, they receive hundreds of resumes for that position. It’s quite obvious not every candidate is suitable for the position, and even if they are, not everyone could be selected. Therefore, it is your responsibility to evaluate candidates based on their soft and hard skills, work experience, cultural fit, and growth potential.
Step 6 – Interviews
Once you have identified the best candidates from the previous step, the next step is to interview those candidates that have more in-depth knowledge. While interviewing them, you need to have more detailed knowledge about their background, assess their abilities, and ensure that they are the right fit for the job. In the interview stage, you will encounter many candidates whose resumes are quite impressive but they might not be the right fit, and some might not align with the company’s objectives or culture. After assessing all the candidates, a good talent acquisition specialist will recognize the perfect fit for the position.
Step 7 – Offer Management
The next step after an interview is to send an offer of employment. In this stage, if the candidate accepts the offer, then you need to negotiate their salary, benefits, and other contract terms if necessary. While extending an offer, you need to make sure that you are not overly compensating the employee or under-compensating him, you should balance the costs and benefits beforehand.
Step 8 – Onboarding & Retention
After the candidate has agreed to all employment terms and accepts the final offer, then you need to integrate the new hire into the team and workplace. After the employee has successfully joined the company, the talent acquisition team’s work has not ended, they need to incorporate appropriate employee engagement and retention strategies to increase satisfaction or loyalty.
Effective Talent Acquisition Strategies
To succeed in the long term, it is critical for a company to attract and retain talented employees. There are several ways through which you can upscale your talent acquisition process, here are a few of them:
What’s better than making your recruitment process a marketing campaign? This not only provides you an opportunity to connect with potential candidates, but it also enhances the brand image of the company. This strategy showcases your company as a top-notch one, which automatically attracts potential candidates. If you use this strategy, your current employees become the brand ambassadors for your company, which would in turn make them feel valued and seen.
Expanding Sourcing Platforms
In today’s world, job seekers are everywhere, and you cannot rely on one platform for your outsourcing needs. To find a vast majority of top talent, you should consider other platforms as well, such as job boards, academic programs, conferences, online forums, professional networking events, social media platforms, etc. Even though LinkedIn is vastly used by a majority of people, but to diversify your outsourcing approach, you must use other platforms as well. This not only increases your pool of potential hires, but will also have a positive impact on the company’s brand awareness, which will help you attract talent in the future as well.
Emphasize on CSR Activities
Nowadays, it is important for companies to give benefits to society and its people. When companies engage in activities that solve certain social and environmental concerns, then those activities are known as CSR Activities, also referred to as Corporate Social Responsibility. CSR activities lead to the betterment of your brand image, workplace culture, and general society. Your company’s CSR activities should be highlighted and placed on its website. Employees prefer joining organizations with which their values and beliefs match, and if you post about CSR campaigns often, then you are likely going to attract like-minded candidates who will be passionate about working for your business.
Employee Referral Programs
Employees are the best brand ambassadors a company could ever get. If you encourage your employees to refer potential candidates for the position, it will attract more qualified candidates. Your employees may know other like-minded, skilled individuals who might mesh well with your existing team, and if you develop an employee referral program, these hidden gems will finally be uncovered.
Embracing Diversity & Inclusion
Diversity and inclusion have become a necessity nowadays for every company. Promoting diversity not only fosters an inclusive and healthy work environment, but also educates you on various cultural traditions and backgrounds. If you create an environment where different views and ideas are valued and heard, then this automatically reduces employee turnover and increases satisfaction.
Flexibility on Work Options
Talent acquisition specialists have to adapt their work models to conduct an online onboarding process rather than meeting candidates face-to-face. With emerging technology, employees’ demands are also changing, and employees are looking forward to creating a greater balance between work and life. Moreover, after Covid-19, the job market completely changed, which gave rise to a new concept of remote work and hybrid work situations. Researchers have also concluded that remote working leads to greater creativity and productivity.
Tips to Get the Best Out of Talent Acquisition
Now that you have understood how to implement talent acquisition strategies, here are a few tips that will help you implement those strategies effectively:
In today’s world, technology has become everyone’s friend. Use Applicant Tracking Software (ATS), recruitment software, and data analytics platforms to streamline your process, make data-driven decisions, and reach a much broader talent pool.
Promote Your Employer Brand
With emerging social media, tapping into the feeds of your potential employees is not that difficult. You must use different communication channels to showcase your company’s culture, values, benefits, and opportunities.
Prioritize Your Candidates
Whether a candidate gets hired or not, as a talent acquisition specialist, it is your responsibility to provide a positive experience to all candidates at every step of the process. Ensure that at each stage your team provides clear communication, respects their time, gives constructive feedback, and makes the application process seamless to increase offer acceptance rates.
Foster Long-Term Relationships
If you ever encounter a candidate, always try to build a connection with them, as they can be a valuable asset for your future needs. Maintain lines of communication with potential candidates, and encourage them to consider your company down the line.
The main concept of talent acquisition is to identify the talent and hire them so that you can reduce the risks in the future. It’s a strategic, data-driven approach for proactively identifying, attracting, and retaining top talent.
As discussed earlier, talent acquisition is not just about filling vacant positions, in fact, it is an artful process of finding the right individuals that will contribute to your company’s long-term success. HR professionals and talent acquisition specialists try their best to attract and retain the best talent from the industry.