Most companies struggle to find the perfect match to fill critical positions in their teams. This affects productivity levels and by extension reflects badly on your company. Internal factors are just as important as external ones. To succeed, your business should be able to attract and retain only the best, most capable talents in the job market. Hence why you should be interested in talent acquisition. If you would like to learn about the whole process and why it’s so important, this article is for you.
What is talent acquisition?
Talent acquisition is a long-term strategy that aims to cover your HR needs by seeking out top talents, establishing relationships, and eventually convincing candidates to work for your company. It is a long process that requires patience and direct contact with the candidates.
Not to confuse with recruiting, talent acquisition focuses on your long term goals and looks for the best fits for you no matter your current position. Recruiting, on the other hand, is a short term, tactical solution that focuses on tending to your instant hiring needs.
When can talent acquisition be most useful?
Effective talent acquisition recognizes the turbulent nature of the workforce, and works around the changes that can arise at any moment. Certain situations where talent acquisition is very useful include:
The more competition you have, the harder it will be to attract brilliant minds and get them to stay. Because they will have other alternatives, your candidates might easily be persuaded into leaving. Talent acquisition will allow you to come up with a fool proof plan to get ahead of your competitors.
Exponentially growing companies:
If your company is growing fast, then you will need great talents to hold down the fort and ensure that everything works seamlessly. This will reduce your time-to-fill and pave the way for a bigger, more productive team.
Most niche industries like medicine, law, and finance rely heavily on their employees’ image to attract clients. They enter in direct contact with your client. As such have to be capable and talented enough to win them over. As a consequence, talent acquisition is needed to retain top talents.
How to build your own talent acquisition strategy:
Composing a talent acquisition strategy is a complicated process that can go different ways. Here are some aspects that you should definitely incorporate in your strategy.
Align your talent acquisition strategy with your business goals:
Use your long term business goals to tailor your talent acquisition strategy. This way, you won’t overlap your objectives and will ensure that you are working according to what needs improvement.
Define your ideal candidate profile:
Finding your perfect candidate starts by outlining the desired characteristics and skill sets that you are looking for. You should get into the candidates mindset and understand what makes them want to work for a company by analyzing data.
Expand your sourcing strategies
In order to find your perfect candidate, you should pay attention to how you use sourcing. As part of your talent acquisition strategy, sourcing is a msut. The best way to use this method would be by expanding your sources to collect the largest amount of matches possible. You can find different skill sets using different sourcing outlets. Instead of spending all of your resources on LinkedIn, try job boards, university forums, etc. You can learn all about sourcing right here.
Improve your employment branding
Employment branding is the most important factor to work on when it comes to talent acquisition. In fact, 80% of managers think that employment branding heavily influences their ability to hire talented individuals. Naturally, employees are more inclined to choose companies that succeeded at portraying their values, work ethics, and organizational culture in a good light.
Collaboration between different departments
Just as you can’t start a campaign for your products without the collective effort of several departments, elaborating your talent acquisition strategy requires their collaboration. Data, accounting, and marketing departments, for example, can be of great help in analyzing data, coming up with a course of action, and communicating with your candidates.
Invest in your candidates
Employing a nurturing strategy can help you greatly when you’re looking to establishing a talent acquisition strategy. Using platforms like emails, advertising, career pages, etc, to come in contact with your candidates and build a strong link of mentorship will win you their loyalty thus ensuring talent retention in your company.
Rare are things that surpass your work force in terms of importance. Human resources are every company’s personal treasure, and if you know how to employ them, you will reap their benefits on the short and long terms. It is then extremely important that you understand your candidates, and use the appropriate platforms to attract them. In fact,talent acquisition is a strategic move that will ensure you get exactly what you need, when you need it. It involves all of your team members, thus ensuring that your problems are tackled from all sides and that your plan of action is bullet-proof.