What is Talent Acquisition?
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Managing change within an organization is one of the top priorities for HR managers. It's about contributing to the company's critical functions while striving for success.
However, given the challenges posed by modern HR practices, talent acquisition is no walk in the park for HR managers.
As new operational norms are shaped and integrated into digital evolution, the expectations placed on HR managers in terms of expertise and leadership skills have risen sharply. Previously, HR was primarily concerned with administrative and risk management tasks.
However, in recent years, HR has been given an incredible opportunity to redefine itself and place itself at the center of employee attention, positively impacting engagement, morale and overall performance.
Talent acquisition is the process that helps analyze the strategies and tactics that determine how to recruit the right talent and workforce for the company. The responsibility of finding and recruiting the right talent that best fits the company's goals is often placed on the shoulders of the HR department.
The goal of talent acquisition is not just to fill a vacant position in the company, but goes far beyond that. Talent acquisition involves analyzing a person's talent and examining how it could be of use to the company in the future as a manager or in another top position. Unlike recruiting, this process targets not only current opportunities but also future opportunities.
A company's HR manager typically has the ultimate responsibility for hiring the most suitable talent for the company. From the interview to onboarding, every step is controlled by the HR department.
In today's fast-paced corporate world, it's important to keep up with the talent in the industry and find ways to retain them so they don't leave after a while. Today's employees often do this because they need a better position, better compensation, a better environment and culture, better leadership, better benefits, and more flexibility, among other things.
Talent acquisition process
The process of attracting talented workers is a challenging task and involves six important steps:
1.Sourcing and lead generation
To publicize a company's talent needs, you need to advertise them. This attracts applications from potential candidates.
Industry events, conferences, online forums and communities are the perfect environment to build relationships and find the talent you want.
2.Build stronger employer branding
Corporate branding plays a crucial role in successfully recruiting and attracting talent.
Potential talents are only inclined to apply to a company if they have heard enough about it and know the basic details and offerings of the organization.
Negative branding instead of positive may even drive some candidates away from you. This shows the importance of the brand name.
The way a company is perceived in the market is an important factor for applicants whether or not to consider your company.
3.Interview and assessment
Depending on the type of position at your company and the personality trait you're looking for, think of questions that will bring out the most creative sides of the candidate and make it easy for you to evaluate your hiring decisions based on the answers. Also give applicants some tasks to complete in the form of an assignment or personality test.
4.Analysis of references
Before you take any further steps, you should check and analyze the applicants' references. This step gives you more confidence in your decision and is a final check to make sure you haven't missed anything.
5.Make final decisions
Use HR software like IceHrm for hassle-free and quick decision-making to make the final selection among your best candidates. Use staff tracking and evaluation software or an internal evaluation system to carry out the process accurately and without hassle.
IceHrm's recruitment and applicant tracking system lets you categorize your candidates into different hiring stages which can help you make quick decisions.
6.Onboarding
The final step in hiring the best talent for your company is onboarding. The onboarding process must be robust, clear all ambiguities in the minds of employees and create a lasting impression of the company to the individual.
How HR managers play a role in talent acquisition
1.Determine benefits and compensation
A good benefits and compensation package that is aligned with the company's boundaries is a great incentive for candidates to apply for the position offered by your company.
2.Onboard new employees
To make employees feel included and engaged, HR managers need to familiarize newly hired employees with the company's various conditions, such as: B. Ethics, dress code, etc.
3.Reward system
A reward system is important to boost employee morale and maintain their motivation. It's a way to recognize the hard work someone has done to achieve company goals.
Depending on the company's budget, this can be anything from a small gift to a paid vacation.
4.Onboarding
After the candidate is hired, it is in the hands of the HR manager to familiarize him with the company, inform him about his responsibilities and clear the confusion that is running through his mind. Onboarding is a crucial step as it creates a picture of the company in the newcomer's mind. It is crucial that the onboarding process goes smoothly.
Quality HR equals quality talent acquisition
HR is a key player in building a strong company culture and creating an identity for the brand. Taking all aspects into account and communicating via a company-wide platform leads to higher employee retention and an increase in loyalty.
Participation of not only employees but also their family members in benefits also plays an important role in employee retention as it has a significant impact on employee engagement.
So the role of HR managers in talent acquisition is not only to find the ideal candidate with the right fit, but also to make a good first impression. Done strategically and positively, employee acquisition can also reduce risk and be a cost-saving factor in the long term.
Traditionally, when it comes to talent acquisition, HR departments have maintained effective research teams that keep both company and candidate needs in mind. Today, with digitalization on board, everything is automated - from job posting to recruiting to employee onboarding and much more.
In addition, HR managers conduct behavioral interviews with applicants to get a thorough analysis of their teamwork skills, decision-making skills, problem-solving skills, etc.
They also thoroughly assess applicants and their attitude towards teamwork, their response to change management and their willingness to engage with the company culture.
These analyzes help HR and the company hire a candidate with the right education, work experience and a flexible attitude.
HR managers take some of the following steps when acquiring talent:
- The company's business strategy is noted.
- Assessing the talent available in the company
- Discuss talent needs with senior management.
- Reviewing and bridging the gap between availability and demand.
- Measuring progress in implementing plans.
It's pretty obvious today that people who receive a lot of benefits from their company engage well, which in turn leads to higher retention rates.
When it comes to holistic wellness, people know how to deal with the stress that every job brings. They know what they need - going for a walk, listening to songs, spending time with family, cooking, etc.
When employees feel like they get along well with the company's culture, benefits, work, and other factors, the company has a greater chance of retaining its employees long-term. Employees want to feel like the company is investing in their well-being.
In addition, Millennials and Generation Z are very selective and choose companies that meet their current needs.
According to Forbes, many top companies today offer to partially or fully cover the cost of their college education, and factors like this are attracting talent to these companies.
When it comes to talent acquisition, HR managers have the opportunity to think outside the box and highlight the advantages of their own company.
Things like financial compensation, childcare, vacation days, health benefits, etc. are now offered by all companies. To stand out from the competition, talent acquisition professionals must make unique offerings that meet employees' wants and needs.
Talent acquisition helps companies create jobs with knowledgeable personnel that lead companies to success. With high-quality talent and acquisition strategies, companies can -
- Transform recruiting into a proactive hiring function
- Develop talent pipelines based on staffing needs in the near future
- Recruit a variety of employees from different backgrounds
- Hire candidates who have the ability to develop beyond their primary duties.
Every company has its own conditions and strategies for presenting itself on the market and attracting good employees.
HR managers have a daunting task on their hands when it comes to attracting talent, but thinking outside the box will serve them well. They can use everything at their disposal, from tools to benefits, to hire and retain top talent.
The improved loyalty, increased morale and productivity that result will help employees and provide the company with a stable foundation.
Try out IceHrms' recruitment management system to understand how it can help you streamline your talent acquisition process.
