Talent Acquisition is defined as the process of developing a complete strategy to attract and recruit top talent in alignment with a company’s broader business goals. The objective of a Talent Acquisition process is to identify, target, and attract the most qualified candidates for a given role.
Most people confuse Talent Acquisition with Recruitment, when in fact they aren’t synonyms. Recruitment is just one aspect of Talent Acquisition and is usually a short-term engagement for a specific role. Talent Acquisition, on the other hand, is a more comprehensive business and HR strategy that factors in an organization’s long-term goals.
This long-term specialist strategy focuses on identifying and attracting appropriate candidates for executive-level positions, leadership roles or specialized training. Employer Branding, Job Vacancies Marketing, Recruitment & Selection, Candidate Management Relationship, Hiring and Onboarding process and creation of a talent pipeline are some of Talent Acquisition best practices.
Best Talent Acquisition Strategies
1. Talent Pipeline creation
A talent pipeline is a group of candidates that are engaged and can be contacted when roles become vacant. It provides a diverse and powerful source of talent for internal and external candidates. In this system, HR managers nurture interested candidates and actively build relationships with them, in order to fill future vacancies.
The talent pipeline will be constantly nurtured by professionals interested in being part of your company. Instead of searching for candidates that fit an immediate need, companies will have an engaged pipeline in place when a job opportunity arises. This will help organizations reduce costs and time of hire.
2. Smart Staffing
HR managers can use smart and digital solutions for staffing services such as job posting, searching for candidates, interview process, contacting applicants, posting job notices via Social Media and forwarding resumes of screened candidates.
These Talent Acquisition programs are usually cloud based or employ AI recruiting tools, video interview platforms or HR chatbots in order to allow recruiters to ensure a profound analysis of each candidate and select the most qualified for a given role.
Other important tools applied in modern recruitment are the use of AI-based applicant-tracking-systems (ATS), which lets you easily track live the whole recruitment process. The implementation of AI-based talent pipelines is another tool for smart staffing; it is a machine learning pipeline that has an active pool of candidates who are ready to fill a position.
3. Recruitment Process Outsourcing
With Recruitment Process Outsourcing (also known as RPO), a company hires an external service provider to handle all recruiting efforts. The latter assumes the role of the organization’s Human Resources department, either by implanting one or more consultants permanently in the client company (Implant), or by having consultants exclusively dedicated to the project from their own offices (Outplant).
An RPO will typically handle all of the company’s staff, methodologies, and reporting. As such, they assume ownership of the recruitment process and take responsibility for the results. This allows the organization to integrate the resources and expertise of the consultancy and thus optimize the project’s results to the maximum.
This translates into a series of benefits for the company, such as optimization of recruitment costs, access to specialized consultants in the market, reduction of hiring times and improvement of Employer Branding.
4. Human Resource Outsourcing
With Human Resource Outsourcing (HRO), a company subcontracts human resources functions to an outside provider. This solution has enabled HR professionals to focus on their business objectives by outsourcing some of the administrative and operational tasks, such as:
- Recruiting, training, and development
- Overseeing organizational structure and staffing requirements
- Tracking department objectives, goals and strategies
- Employee orientation programs
Outsourcing HR services can deliver important benefits to companies, such as reduced costs, increased efficiency, access to improved HR IT systems and HR expertise not available internally. It allows an organization’s core resources to focus on strategic initiatives rather than managing transactional activities in HR operations.
5. Talent Relationship Management
Talent Relationship Management (TRM) refers to the process of recruiting, networking and onboarding talent. This Talent Acquisition strategy seeks to build a relationship with qualified candidates before, during, and even after the recruitment process. This way, you will have the advantage when it comes to recruiting them, as well as expand your long-term talent pipeline.
TRM also refers to any software and systems in place to facilitate and automatize the process, allowing interactions with candidates, and handling administrative hiring tasks like posting job ads, CV parsing, and data entry. A TRM software usually involves various tools such as talent pools, email nurturing campaigns, sourcing, applicant-tracking-systems, employer branding, and automation.