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Do you have a Talent Acquisition Strategy? And if you don’t, should you?

Wednesday 25 July 2018 - By Kathleen Powell - Co Founder and Director of Colossus Systems

Sourcing talented individuals for your business or client can be a challenge but with the right processes and systems in place it can become easier, more cost-effective and efficient over time. In today’s article we shall be discussing what exactly is talent acquisition, how it differs from recruiting and how companies can benefit from its application.

ACQUIRING TALENT:

Talent acquisition involves attracting and acquiring individuals whose skills and personalities match the requirements of the company, it tends to be strategic in nature as opposed to tactical. A crucial role of the talent acquisition professional is to help the company that is hiring achieve their vision and hiring goals.

THE DISTINCTION BETWEEN RECRUITING AND TALENT ACQUISITION:

The most important distinction between recruiting and talent acquisition is that talent acquisition looks beyond the short-term goal of focusing on the now, and the process of filling a position as quickly as possible; instead it looks at the candidates fit within the company and the position they’re recruiting into: what are the skillsets, the cultural fit and future development of this candidate within the company. In a nutshell recruitment is concerned with filling a job role, whereas, talent acquisition is much more focused on finding specialists, potential leaders and future managers for the organisation.

Talent acquisition is about investing in your business’s future. It is forward looking, your current leaders and managers may not stay at your business forever, recruiting into these positions when they become vacant, can take time and can be costly. It is important for companies to look ahead especially in terms of finding suitable candidates for leadership or speciality positions, as these types of roles can take longer to fill, as it can be difficult to find a person with the skills required, having a talent acquisition strategy can help companies avoid the costly problem that can occur when there are skill shortages.

THE BENEFIT OF IMPLEMENTING A TALENT ACQUISITION STRATEGY:

A company that looks to the future and acquires people with skills and abilities to progress and develop into the company’s future leaders and managers saves time and money. The difference between a company that is forward thinking and progressive to a company that is stuck in the mindset of here and now, is that by focusing solely on recruiting rather than acquiring talent for the future, they are more likely to experience higher turnover and productivity issues, as they’re simply hiring to fill a job rather than looking at the long-term picture. In areas and industries where there is an increased shortage in skills, it is likely they are going to need talent strategies surrounding strong culture, attractive benefits and stronger employment branding. Marketing and selling your business to potential future employees is key to attract top talent, your team and employees are your biggest asset, losing them to the competition is not an option. Marketing departments can help tremendously when it comes to strengthening your employee brand, company culture and message which will all aid in attracting the right team to your business.

The more companies and recruitment agencies focus on helping their clients acquire talent rather than recruit, the stronger the company and brand will be, boosting productivity and employee engagement.

Setting up a talent acquisition program is vital to a company’s future success. To begin with it is worth evaluating and analysing your current methods. If you’re operating a small company with few employees’ talent acquisition is still key and can drive your business further and faster. The most important step after your analysis is to begin tracking the talent you find and the means and resources you used to find them.

Larger companies or companies looking to grow would benefit from investing in software that streamlines the talent acquisition process.

THE TALENT ACQUISITION PROCESS AND AUTOMATION:

Talent acquisition has become more cost-effective, quicker and efficient through innovative automated talent acquisition technology, it’s now even easier to access and source talent. Applicant tracking systems (ATS) can aid in automating repeatable and even some complex tasks, so to enable talent acquisition professionals to concentrate on more strategic functions, ultimately saving costs, time and resources.

Interested in learning how Talent Acquisition Tech can help your business click here.

Recruitment will always be an important function in order to fill immediate positions, however companies that start investing in talent acquisition early will reap the rewards in the long-term. Although talent acquisition may take an initial investment of time, it will help your organisation grow and thrive once you have the right team of people championing your business; you will see your goals come to fruition, the right decisions being made and increased productivity; your competitive edge will be your people and your customers and competitors will notice.

Follow for me at @SystemsColossus  or  linkedin.com/colossus-systems for similar blogs, resources and stories.

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