Talent Acquisition vs Recruitment
It’s hard to ignore the “Now Hiring” signs in the windows of nearly every business. Many businesses have limited hours because of a worker shortage. This pain point isn’t reserved for just retail shops and restaurants. Businesses everywhere are asking the question, “how do I get new talent interested in working at my business?” Higher salaries, better perks, and large signing bonuses have been the response by many business owners. However, this isn’t sustainable for most businesses. The answer for your business may lie in the difference between talent acquisition vs recruitment.
The denotations of talent acquisition vs recruitment would make them synonyms. Yet, the connotation in the business world depicts two stories as to how a company attracts new hires. Talent acquisition envelops a strategic approach to employer branding, relationships with stakeholders, company culture, metrics, and the hiring process to attract top talent. Talent acquisition strategies also include current talent management as meaningful in finding qualified candidates. Recruitment is the use of tools such as job boards or LinkedIn or a staffing and recruiting agency to fill specific open positions within your company. Talent acquisition is ongoing and proactive while recruitment is as needed and reactive.
Is Talent Acquisition Part of HR?
Yes. The talent acquisition process is a function owned by the HR department. Hiring managers or HR managers should be the owners of talent acquisition strategies. Nonetheless, talent acquisition must involve stakeholders outside of HR. Attracting top talent is also marketing. Effective employer branding is crucial to the success of bringing in top candidates. The best practice is to work with the marketing team to develop employer branding. C-suite professionals in a small business should also have insight into the talent acquisition strategy. Effective talent acquisition strategy also includes the other members of the HR team and communicating with the future managers of open positions. Talent acquisition plans do not end with onboarding; therefore, these stakeholders need to be involved in the development of the talent acquisition process.
Talent acquisition responsibilities
This list consists of key talent acquisition roles and responsibilities for a talent acquisition partner and the HR department. Small businesses can also outsource their strategic HR. In this case, the outsourced service will help them develop tailored responsibilities and strategies for their business.
- Employer branding- Developing an engaging and honest brand to describe the company culture and company initiatives.
- Job postings- Deciding when and where to post about job openings. This also involves developing job descriptions to depict skill sets and competencies.
- Candidate experience- The communication, personalization, ease, and overall feel of the hiring process from a candidate’s perspective is an important responsibility to optimize in the talent acquisition process.
- Hiring process- Creating hiring processes such as applicant tracking systems, resume reviews, phone screens, and interviews to engage with potential candidates during the recruitment process.
- Communication- Internal communication to stakeholders about the timeline, candidate quality, and needs.
- Consistency- Establishing the prior responsibilities and processes in a consistent manner so it is repeatable and scalable.
- Metrics- Obtaining metrics will help adjust the current talent acquisition framework to be more effective.
How to improve talent acquisition process
Many businesses are practicing unsustainable ways of accessing more talent in the talent pipeline. These practices may benefit them in the short term but hurt the business in the long run. Here are 3 ways to improve your talent acquisition process sustainably.
- Implement data and feedback mediums- Feedback and data will push your process forward. Begin using easily accessible data such as the number of applications vs. qualified candidates per each method of sourcing. This will help tune in to which sourcing options are best. Also, give potential candidates and stakeholders the opportunity for qualitative feedback. This feedback can help hone in the internal processes and candidate experience.
- Build meaningful relationships with current employees– Current employees can be your best advocates for attracting new employees. Employee referrals and networking is the predominant way jobs are filled. To turn your employees into advocates, they have to be appreciated, challenged and developed internally first. This is the best way to sustainably attract the best employees.
- Standardize the hiring process- Standardizing different aspects of the hiring process will help compare applicants and make adjustments. If two hiring processes have nothing in common, it’s impossible to accurately change different elements to make the overall process more efficient. Interview questions, interviewers, application systems, etc. should be standard.
Is your small business struggling to acquire talent?
Small businesses are at a disadvantage vs larger firms when it comes to a recruiting budget to attract talent. At Milestone, we believe you can win the talent war by working smarter, not spending more money. We will take the time to learn your business goals and culture and then build an effective talent acquisition strategy framework tailored to your company. Interested in learning more? Contact us today to learn about talent acquisition and Outsourced HR.
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