Hiring and selection of employees is an important process for every company. Here, applicants are screened for quality and reliability, and the most promising ones are picked in the hopes that they would become valuable assets to the company. It should be stressed that every job is important; not just the managerial or key positions, but in fact even the rank-and-file since these will serve as the backbone of the company. As you can see, hiring is a crucial stage that needs much tweaking and fine-tuning for maximum effect.
Moving on to specifics of hiring, let’s take a closer look at two concepts: Recruitment versus Talent Acquisition. Though both may seem similar at the surface, they do not just simply refer to the ‘hiring’ process, where the HR chooses a good CV, interviews and checks references, and then signs the applicant up for an employment contract. What distinguishes ‘Recruitment’ from ‘Talent Acquisition?’, and as HR personnel, why should you care?
Talent Acquisition is the broader term which encompasses the hiring stage. It’s a continuous process, where the skills of the company are continuously weighed and measured, and where key people are recruited to fill the gaps in talent and output.
Specifically, it includes (but is not limited to) the following aspects: employment branding, metrics and analytics, and candidate relationship management. The important thing here is that Talent Acquisition is not just a one-on-one relationship, but involves networking and relationship building with communities and resource pools where potential employees with the right skills can be put to good use.
In summary, Talent Acquisition involves a mindset of collective growth, where the recruiters are continuously investing in the skill-set and talent of the company for it to be competitive with the industry standard.
On the other hand, Recruitment is more of an individual approach from employer to employee. To quote from an article from LinkedIn: “Recruitment is a linear process, where employers source candidates for the existing vacancies currently available. This approach is reactive in its nature, thus leads to increased time-to-hire and cost-to-hire. At times organizations compromise even on quality in order to manage cost and time.”
Smaller companies lean more towards the side of recruitment rather than talent acquisition. Employees are hired on an “as-needed” basis, which is understandable seeing as such companies are not really considering company expansion or an influx of new talent. This is in contrast with Talent Acquisition, where clients would recruit today for based on talent, even if such positions are not even currently available but are just expected to be utilized in the future.
Specifically, recruitment includes tasks such as screening, interviewing, selecting, checking for references, and sourcing. The tendency for recruitment is to take on more risks even with untested applicants but with good educational backgrounds, as compared to Talent Acquisition which relies on a more dedicated resource pool with proven skill-sets.
It goes without saying that for the hiring stage, every company needs a really focused and dedicated HR roster. By properly investing in human potential, equipped with the right skills and leadership direction, the company would be on track towards a sustainable and successful future.
“I am convinced that nothing we do is more important than hiring and developing people. At the end of the day you bet on people, not on strategies.” – Lawrence Bossidy, GE