A reactive approach to talent acquisition can be risky in the ever-changing post-pandemic world. Now, more than ever, business and HR leaders need to be strategic in their talent acquisition approach to set their companies up for success.
However, “talent acquisition” and “recruitment” are often confused with being the same when key differences set them apart. Understanding these differences will be the first step in altering your hiring processes to fit your needs and finding the best talent.
Let’s look at the factors which separate recruitment from talent acquisition.
Recruitment vs. talent acquisition
– Talent acquisition is more strategic than recruitment. It focuses on attracting and hiring the best talent for the company rather than simply filling positions.
– Talent acquisition is more proactive than recruitment. It involves identifying and engaging with potential candidates before positions become available.
– Talent acquisition is more tailored than recruitment. It involves assessing each candidate’s skills and abilities to see if they are a good fit for the company rather than just matching them to open positions.
Whereas recruitment, a subset of talent acquisition, focuses on filling an open position with the best candidate that is currently available. Only engaging in recruitment is a bit like putting the cart before the horse. A company’s success depends on its ability to attract, engage, hire, and advance the right people.
Let us dive deeper into the differences between recruitment and talent acquisition services.
Planning and Strategy
Establishing a strong talent acquisition strategy is all about careful planning. Unlike recruitment, talent acquisition demands a more comprehensive look at the inner workings of your business and anticipation of future workplace needs.
Employer Branding
Your company’s brand is more important than ever in today’s market for attracting consumers and top talent. This involves having a clear brand attractive to potential employees and fostering a positive image and company culture. A solid brand will give candidates a look into what it’s like to work for your company and whether or not they would be a good fit while also attracting top talent to your business.
Workforce Segmentation
Acquiring talent depends on having a detailed understanding of a company’s different work segments and the positions within those segments. You need a general understanding of your company’s inner workings – you need to know the specific skills, experiences, and competencies required for success in each role.
Metrics and Analytics
A talent acquisition strategy can only be completed using key performance metrics to track and evaluate progress. By collecting and analyzing this data, you can improve your recruiting process and make more informed hiring decisions that will improve the quality of your hires.
Talent Scoping and Relationship Management
The best talent doesn’t just come from one place. You must do your research to find the different places where you can source candidates. Once you’ve found potential candidates, you must maintain and build those relationships. This is important because even though most of these candidates may not fill a position right away, they may be perfect for a role in the future.
Talent acquisition makes sense because attracting and hiring passionate and qualified employees is an ongoing process. It is becoming increasingly popular and usually requires some marketing strategies to make the position known to specific potential candidates.
As niche industries continue to grow and populate as preferred career paths, hiring managers are simultaneously scouting out candidates with the best talent, who are most qualified, and who will both ease and benefit from working for the company.
