Both talent acquisition and recruitment are important for a well-rounded business success strategy. The two terms often get used to describe the same functions, but they're distinctly different! While the former looks to solve long term business objectives, the latter is reactive to vacancies.
To clear the air, we're going to explore both concepts and suggest some strategies that HR and hiring teams can implement in the organisation.
First, Let’s Talk Talent Acquisition
This strategy is used to source and attract people who the company would want to work with in the future. This makes marketing the employer brand an important factor, as you’re trying to attract high-quality future candidates.
This marketing can target potential candidates on social media, industry body platforms, and in institutions of higher education (such as universities). Even though you are wooing potential candidates, it’s important to put as much effort into attracting them as you would a customer - pull out all the stops. After all, your organisation is only as strong as the people you hire to drive it.
As an active process, this can be either a medium or long term strategy. It does not depend on current vacancies, as it proactively looks to fill positions in the future with top talent. Networking is an important factor in this strategy, as it will help you to broaden the pool of talent you can work with.
Teams using this strategy need to work with company management in creating and tracking goals that can meet future requirements. This is because we are talking about a future-focused strategy, where it becomes necessary to forecast upcoming talent requirements.
Why Recruitment Is Different
Recruitment is a process designed to hire the top candidate in response to a vacancy. This is a reactive activity. It is not done with the future in mind, but rather carried out to meet current demand in the business. For example, if an employee takes maternity leave or resigns, then HR will recruit to fill the role.
Essentially, recruitment is used to fill a position within a given duration, such as the notice period or as soon as possible. This short term strategy can be simpler in that it is flexible and not as much strategic planning involving members of the C Suite is needed. This is because you work to fill already-described positions.
It’s not to say that recruitment is easy. It also requires a well thought out process and the right tools to assist.
Talent Acquisition vs Recruitment
To recap, talent acquisition is a medium to long term strategy, while recruitment is focused on short term needs. Often, they work together to achieve business objectives. Although they can be independent of one another, if a vacancy with hard-to-find skills crops up, recruiters will often look to talent acquisition to fill a role. If recruiters find good applicants who don’t get the job vacancy they are looking to fill, these applicants can be passed to talent acquisition.
By collaborating like this, the links between the two functions grow stronger, and vacancies can be filled sooner. Thus, it can be critical to integrate talent acquisition into your hiring process.
Let’s take a look at some quick strategies that each function can implement.
Strategies For Talent Acquisition
1. Network Away
Networks are formed from building strong relationships with people in the industry, nurturing a social media following, and by cementing a good presence at relevant events. This network can be called upon for filling vacancies and getting references.
2. Build The Talent Pool
Build different talent pools and create a list of candidates for positions that come up regularly or positions with hard-to-find skills.
3. Keep Your Career Site Updated
Stay attractive and relevant to candidates with an updated site that accurately reflects the company values and culture.
1. Detail Accurate Job Requirements
Make sure that the details of the job are completely understood. Keep in mind that people could be promoted internally, and make sure you have a well thought out hiring timeline.
2. Keep The Interview Process Short and Sweet
After accurate screening and candidate evaluation with the help of your recruiting software, share the top candidates with the team in charge of hiring and set up interviews for them.
3. Make A Suitable Offer
Making a good offer to the chosen candidate goes hand in hand with quick feedback to the hiring team. If the offer is declined, the process needs to continue as soon as possible.
Recruitment is necessary to stay on top of the current demand for talent and to fill vacancies in the business. Talent acquisition is needed for a future-focused strategy, regardless of vacancies that currently exist. The recruitment process is made much smoother by integrating talent acquisition, as a blend of these strategies can boost the productivity and effectiveness behind the hiring process.