From the outside, the world of human resources (HR) can appear to be full of synonyms and phrases. Many people mistakenly equate “recruitment” and “talent acquisition”. Although there are similarities between talent acquisition and hiring, the differences should be emphasized.
The dichotomy between hiring and talent acquisition can be understood in terms of time goals, whether it’s a short-term solution or a long-term strategy. The level of strategy involved also varies widely, and adoption is often seen as more straightforward.
What is recruitment?
Recruiting is the process of finding, analyzing and hiring experienced and qualified people to fill vacancies in a company. It usually follows a pre-determined, highly standardized recruitment process. This hiring process is carried out during expansion phases or when turnover is high.
Hiring is an important part of any company’s operations. However, most often it is seen as a short-term activity aimed at meeting the current needs of the company. So what makes talent acquisition unique?
What is talent acquisition?
Talent acquisition is similar to hiring in that the goal is to find the right person for a particular company. But unlike recruitment, which is a more controlled and passive process, talent acquisition is a company’s long game. This requires a more flexible and adaptable approach and broader awareness of the company’s long-term strategic goals. Rather than simply filling vacancies, talent acquisition is an ongoing corporate strategy aimed at finding highly specific talent before positions become available.
What is your talent acquisition strategy?
The purpose of talent acquisition is to hire the best employee for a position. It is important that personal ambitions and company goals are aligned. Therefore, a set of strategies should be employed to improve outreach, attract the right people and leverage all available resources. Using sophisticated strategies is one of the key differentiators in talent acquisition and hiring. Below are just a few of the strategies employed by talent acquisition professionals.
company branding
Company and employer branding is very important when looking for talent. When comparing organizations, many choose the one with the best values, culture, and work-life balance. Eye-catching company branding helps you attract the right employees and retain candidates for long-term success.
Improved range
Whether it’s trade events, conferences, online forums or social media pages, it’s important to find out where you can find the best talent. Focusing on networking and building professional relationships are necessary steps to expanding the pool of potential collaborators.
Data and analytics
Talent acquisition deserves the same attention as any other marketing strategy. Convincing individuals to join your business is just as important as convincing them to purchase your product or service.
Data can be used in many ways to help improve your talent acquisition strategy. For example, data can be used to determine where the best talent comes from. Based on this knowledge, talent acquisition efforts can be directed to specific university programs and professional networking sites.
use technology
There are plenty of great software out there to support your talent acquisition process. Artificial intelligence and automation can reduce the number of manual steps required for recruitment. This allows you to focus more on tasks such as analyzing data and planning ahead. For example, sending confirmation emails and generating reports are tasks that can be automated.
competition monitoring
A key difference between talent acquisition and recruiter techniques is that talent acquisition professionals often spend time observing the competition. This is a useful strategy when your competitors seem to have an edge when it comes to talent acquisition and onboarding.
It usually comes down to understanding their strategies and advantages and trying to incorporate them into newly refined strategies.
Recriutment vs Talent Acquisition
After understanding the difference between hiring and talent acquisition, many people wonder what is right for their company. The answer depends largely on the nature of your business and your business goals. If industry variables are inherently stable and the skills needed are more common and easier to find, regular employment may be sufficient.
However, if you are trying to keep up with a dynamic industry and require highly specified skills, you may want to consider hiring a talent acquisition expert.
Markets are constantly changing, requiring new skills everywhere. For example, the manufacturing industry has recently moved to green technology. As a result, skills from non-traditional backgrounds, especially environmental sciences, are sought. Organizations may need talent acquisition strategies to meet their ever-changing needs. Having a passive talent pool on hand can save you time and give you a head start.
Understanding recruitment and talent acquisition
Outside the world of HR, hiring and talent acquisition are often considered synonymous. However, they are different when it comes to the target timeline. Recruitment is usually aimed at meeting a more immediate need, whereas talent acquisition is long-term. This is achieved by employing a number of sophisticated techniques aimed at expanding candidate reach, improving employer image and attracting specific talent.
Talent acquisition is a broader form of recruiting. Whether you’ll benefit from moving from recruiting to talent acquisition depends on the type of business you run.