So what exactly do we mean by the term Talent Acquisition? Well, just as Customer Acquisition describes the overall strategic process around identifying market sectors, targeting client prospects, running direct marketing campaigns, selling and receiving the order (i.e. acquiring a new customer), so Talent Acquisition involves all the sub-processes around finding, attracting and engaging highly talented individuals into your organization.
Origin of the "Concept" of Talent Acquisition
Let's take a closer look at the way traditional recruitment is re-emerging as a broader 'talent acquisition' concept - An approach that is becoming more and more critical in the 'War for Talent'. Just exactly how does this differ from 'plain vanilla' recruitment? Well, in a considerable number of ways.
First and foremost, 'talent acquisition' forms a part of a much broader strategic approach in the corporate quest to gain and sustain a competitive advantage in today's marketplace. Other aspects include talent development, retention and transition, these are primarily inward facing, whilst the former is outward looking.
The core concept of talent acquisition is to get away from the 'fill in the box' thinking to one that is more pro-active and much closer to building the skill sets required to achieve business success. Traditionally, a recruitment need occurs when an individual either leaves or is promoted to another function. That's when panic can set in, especially if no suitable internal solution is found, a situation that is becoming known as - "under the bus syndrome". Strong relationship building or networking skills are important here. The key to success in talent acquisition is the unique way that you are able to tap into the 'top performers' who are not really looking for another job. They never read the traditional job ads or go to the job boards on the Internet.
Encouraging your own 'star' players to identify other outside top performers is an extremely powerful tool that is being used more and more. Corporations are offering a wide range of rewards in order to get these names and then act on them.
Once the talent has been identified, the next stage is to start building on-going relationships and look for that all elusive 'trigger point' in someone's career that would get them to change jobs. This can be a number of things but it is often a negative experience or an outstanding opportunity. Gathering intelligence from their 'friends' and from previous market research will help in uncovering exactly what excites top players.
Educating line managers that talent acquisition must also be an every day duty is also a success criterion. Most managers, rightly so, look at hiring only when there is a 'box' vacant on a purely transactional basis. Today's top talent has a very short shelf life; therefore you must have a sense of urgency in bringing them aboard, a job opening or no job opening. This tactic is considered very risky by some managers, but at the end of the day not making an offer the day a 'top' performer comes to the job market, you will most certainly loose them. Usually bringing in top management (CEO, CFO, COO, etc.) in the relationship building process helps considerably in influencing the 'star' performer.
Money is of course essential in the talent acquisition quest, but it's not the only element. Many corporations are using traditional job classification and job grading systems in order to remain competitive in the 'cash compensation' side. Being able to mould an opportunity and make it exciting will also attract top performers, the notion of "a la carte" job descriptions is becoming more and more adopted as a way of finding the "hot button", and excite people enough to make the move. Benefits and perks are at the fore here with long-term incentives such as stock options, being widely used. The work/life concept will also have an impact, a lot of corporations talk about this element but not many have fully embraced it. Others look at it from an investment banker perspective and view potential 'top performers' as they would any targeted acquisition, some people are even thinking of attributing P/E ratio values to top talent. Just think for one moment at that analogy, the talent marketplace becomes the equivalent of the NASDAQ or DowJones and the attractiveness of top talent will vary according to their performance relative to peers and the value added they can bring. Perhaps in the future you will see talent 'indexes' being used.
That will prove to be more and more essential in giving corporations a leading edge and competitive advantage over others. If you have it you will be one of the survivors, if not then a 'market correction' may be soon be coming your way.
What is difference between "Recruitment" and "Talent Acquisition"?
One of the most frequently asked questions is "What's the difference between 'Recruiting' and 'Strategic Talent Acquisition'?"
The easy part of the answer is to define "recruiting". It is nothing more than filling open positions. It is an entirely tactical event.
The more complex part of the answer is the definition of "Strategic Talent Acquisition".
Strategic Talent Acquisition takes a long-term view of not only filling positions today, but also using the candidates that come out of a recruiting campaign as a means to fill similar positions in the future.
These future positions may be identifiable today by looking at the succession management plan, or by analyzing the history of attrition for certain positions. This makes it easy to predict that specific openings will occur at a pre-determined period in time.
In the most enlightened cases of Strategic Talent Acquisition, clients will recruit today for positions that do not even exist today but are expected to become available in the future.
Taking the long term strategic approach to talent acquisition has a huge impact on how an approach is made to a candidate. If the approach is purely tactical in nature, all we ask of the prospective candidate is "are you qualified and interested?"
However, if the approach is more strategic in nature, the intent of the call is to go much further, and the conversation becomes more relationship building. The candidate has an opportunity to explain his/her future career aspirations, and the recruiter gathers enough information to determine if there is a potential fit in the client organization. If during a strategic recruiting call the candidate declares that they are both qualified and interested, then the tactical nature of the call has been automatically fulfilled. If, however, the candidate lacks sufficient experience, or the timing for a career move is not propitious, then they become candidates for the future, and all the recruiter has to do is keep in touch until either they become available, or a position with the client organization opens up.
Most of the money spent on Strategic Talent Acquisition would have been spent in a tactical recruiting mandate anyway. The only additional cost is in collecting data on high-potential candidates and then keeping in touch with them until hire is made. The additional cost becomes insignificant compared to the value of hiring top competitive talent over time.
Strategic Talent Acquisition allows us access to a pool of competitive talent that would otherwise have been missed or even worse, ignored.
Clearly the business case for acquiring talent strategically is far more compelling than simply paying to fill positions today. What we are doing is adding a small incremental effort, in exchange for a huge potential reward.
Importance of Talent Acquisition
Understanding workforce demographics (current and future)
How HR strategy, policies, and practices support and facilitate corporate strategy
Key design elements required in an HR talent acquisition strategy
Practical application of a talent acquisition strategy
Knowledge of emerging trends and best practices in attraction and retention of talent
Talent Acquisition - As A Strategy
Historically organizations have not treated the recruitment process as one of strategic importance, but latterly many are now waking up to the reality that the world has changed dramatically. No more can the organization pick and choose between several great candidates for one position. Several changes in our connected world have tipped the scales in favor of the highly talented individual looking for a new opportunity.
Firstly, of course, there is the Internet. Never before in the history of humankind, has there been such an enabling technology. Candidates can now advertise their desire to change jobs within minutes of making the decision and receive enquires about their talents within hours.
Potentially, it is feasible that a high quality employee of yours, having received the final 'straw which broke the camels back' (bad appraisal, inappropriate negative response from boss, extra workload stress etc.) can post their CV/Resume up on a particular jobs board at midday today, receive three interested requests for contact with third party recruiters or headhunters within hours, be interviewed for an outstanding role (at one of your competitors) tomorrow, receive an offer in writing the following day and resign that afternoon (within 2 days). Scary, isn't it? But if the Internet has enabled this process for candidates, it has also brought significant advantages for organizations.
Direct access to the candidate market
Now organizations can go direct to the candidate market, thereby cutting the time it takes to find the right people, whilst dramatically reducing their recruitment costs. However, simply posting up jobs on various jobs boards is not the answer.
Best Practice Process
Instead, based on all the research we have compiled over the last 18 months, we believe that Talent Acquisition needs to be addressed at the most senior levels within all organizations - big or small, public or private. This means that Talent Acquisition needs to fit 'hand in glove' with your overall organizational strategy. It needs to have the appropriate level of resources behind it; it needs to be monitored and reported on at all board meetings and it needs to involve many people within the organization who attribute to it the importance that the organization requires.
But don't despair, given the correct focus we can help ensure that your organization becomes and employer of choice' in this brave new world.
The realities of today's demographics have elevated the issue of talent attraction and retention to become a critical leadership concern, receiving significant attention. Given the projected labor market and demographic trends, an organization's approach to talent acquisition can become a key differentiator and source of competitive advantage. The changing market has revealed that prevailing "one size fits all" HR practices are no longer effective. Organizations must develop specific people strategies for their most critical segments that directly align with and support the business strategy. While individual approaches are customized to the needs of each organization, all approaches are based on key critical success factors. This course focuses on the issues and challenges organizations face in attracting and retaining key talent. While introducing participants to emerging recruitment trends in the industry, this course will also provide participants with a selection of tools and best practices from which to draw as they design their own strategy to win the war for talent.
Talent Acquisition Strategies
If we were really serious about looking for talent, here are some of the things we would be doing as Staffing, Recruiting, talent Management and as human resources professionals:
We would work harder than we do at identifying high performers: Together with high performers themselves, we could establish some indicators of success or of high performance for each position we recruit for. These could be the number of sales they have made in a month, the number of reports they have written that resulted in consulting assignments, the amount of revenue their group has generated, and so forth. This is hard work though. There aren't a lot of benchmarks to go by, but we all know more or less who contributes the most to our organizations. Our task is to quantify those contributions.
We would work with managers to develop profiles of the high performers in each group: We would try to find commonalities and things we could identify during the screening process that might predict success. These could be competencies, activities high performers engage in, work methods, or processes. There are many firms that can help you determine what these "critical success factors" are and even help you develop tests to identify them in candidates.
We would find out where potential high performers like to go and what they like to do: This step allows you to target your advertising toward high performers and decide which events are worth attending so that you can get at the kinds of people you seek. Doing this well requires a focus on competitive intelligence, or "CI." CI is well known in the industrial world; many companies employ CI experts to ferret our information about production capacities and equipment installations at their competitors. The same principles apply to recruiting. You can gather information from competitors and from vendors and suppliers about where good people may be located. You can certainly use your employee referral program for the same purpose.
We would do a better job of collecting and capturing critical information about candidates: The knowledge you gradually accumulate is valuable and should be put into some sort of database where it can be shared with other recruiters. A BLOG can form the basis on an internal or external community of recruiters where this kind of information can be exchanged. This is a form of knowledge sharing and transfers that, when properly done, can save thousands of hours of work and bunches of money. After all, headhunters rely on their own human knowledge management systems (i.e. their brains) to do this all the time. Our challenge is to make this more broadly accessible and to keep it current.
Finally, we would recognize the importance of developing people so that they can become high performers: The recruiting function has to move toward becoming more like a talent agency - something it has not been historically. Talent agencies not only recognize talent but also develop it for strategic purposes. We as recruiters need to take our knowledge of what talent looks like and offer people who have "it" a chance to acquire the skills they need to perform the jobs we have.
Mostly this will apply to our current employee populations, but it could also apply to people outside as well. The only limits are our own vision and our ability to work within the politics of our corporate environments. One way to find those with talent would be to open all of our screening processes to anyone and then select those who seem likely to be successful. The Internet and our recruiting websites make this very easy to do. The development side could take the form of classroom training, e-learning, internships, action (work-based) learning assignments, or special programs that train a group of people for specific jobs within a company.
The key is that recruiting is not only about finding talent, but also, increasingly, about developing it. If we are to move our profession upwards and start making real contributions to the bottom line, these things I have described are what it is going to take.
firstly I am very happy to meet u all . when I open this site I feel that I am sitting in a team who is helping me to solve my problems.
I want to know that in HR what are the major topics who supports us to find a new job. Along with it Suggest me how I improve my personality.
I hope ua help me.
From India, New Delhi
Following are some of the factors for personality improvement:
Factors for Personality Improvement
1. Pleasing Physical Presentation.
2. Body Language.
4. Maturity in Socio-Cultural Values.
5. Beneficial Interactions
6. Grasping & Understanding circumstances and environment.
8. Outwitting Defensive Smartness.
9. Concentration and Devotion in duties with (developed)
10. Taking care with responsibility as if own.
11. Accountable action without attracting negative reaction.
12. Will to achieve.
13. Convinced stand and inner-strength to withstand.
14. Analytical decision of choosing the best suitable of all the
available practical alternatives with maturity and in the
interest of purpose.
15. Risk taking with accountability for calculations.
16. Maturity of values.
17. Convincing nature.
18. Make them to dance to your tune without their knowledge.
19. Speak to them the language they understand.
20. Make them to realize your positive abilities without your
21. Be the best for good and worst for the bad in managing.
22. Do not react but act sensibly.
23. Donít suppress emotions, but eradicate them with positive
24. Yoga & Meditation.
25. Priorities in the order of advantages and time.
26. Health Care.
27. Voluntary Initiative for learning and helping.
28. Financial Management to beget more pleasure and happiness.
From India, Hyderabad
If you are knowledgeable about any fact, resource or experience related to this topic - please add your views using the reply box below. For articles and copyrighted material please only cite the original source link. Each contribution will make this page a resource useful for everyone.