Traditional talent recruitment is in trouble, and many companies are turning to talent acquisition instead. However, if talent acquisition is to be more than just another corporate buzzword, it is important to understand the distinction between recruitment and talent acquisition. We're all familiar with the recruitment process in which candidates are sourced, vetted, and then passed on to hiring managers. Typically, the recruiter's role ends there, with no consideration for what comes next. To a large extent, this explains why traditional recruitment models now provide diminishing returns.
Over two-thirds of HR leaders believe that employee onboarding is underused in their organisations, which can negatively impact staff retention. Employees who feel underappreciated are twice as likely to seek alternative work as those who feel well-managed. These lapses in workplace judgement may be to blame for phenomena such as workplace ghosting, in which employees simply fail to show up at all. Such developments indicate a breakdown in the way employer-employee relationships begin, develop, and are managed over time.
What is Talent Recruitment?
The process of searching for, evaluating, and hiring qualified and experienced people to fill an existing vacancy at a company or organisation is known as recruitment. It typically follows a pre-defined, highly standardised recruitment process that is typically implemented during periods of expansion or due to staff turnover.
Many factors influence the specific rhythms as well as cycles of recruitment in different workplaces. According to staff turnover figures, the events and publishing sectors had the highest rates of turnover, whereas general management and administration had the lowest. Recruitment is a critical component of any business, but it is primarily a short-term process that seeks to fill a company's immediate needs. So, what makes talent acquisition unique?
What is Talent Acquisition?
Talent acquisition is similar to recruitment in that both aim to find the best people to work for your company. However, unlike recruitment, which is a very standardised, reactive process, talent acquisition is all about your company's long game. It necessitates a more adaptable and dynamic approach from your recruitment team, as well as a broad understanding of your company's long-term strategic goals.
Difference
Talent Recruitment is an action, a tactical process to solve a pressing issue. Talent acquisition is a technique, an ongoing process of making your company the most appealing place to work for quality talent while utilising the numerous channels through which new talent can be sourced.
Here are some key strategies for expanding your talent recruitment horizons through talent acquisition:
Networking: You must be connected in your industry; attend relevant professional events as well as networking sessions, and build diverse online social networks.
Referrals: Nearly half of companies report that the best hires come from referrals from current employees, so make sure you have a good employee referral programme in place.
Job boards and career sites: They're still useful, so spend some time researching the best job boards for your industry.
Social Media: Ignoring social media and its potential for recruitment will put you at risk. After your company website, LinkedIn is still the most important online recruiting tool. Twitter and Facebook are also significant.
Brand promotion: To attract talent, you must make your company the most appealing place for talent to work. Improving your brand's image can help your company maintain its reputation as a desirable place to work.
Is Talent Recruitment More Important Than Talent Acquisition?
A traditional talent recruitment strategy may work in some cases, but data shows that the majority of recruiters struggle to fill their vacancies with the best candidates. In the United Kingdom, 90% of employers are having difficulty filling positions. The acquisition of talent extends far beyond the tactical approach of recruitment. Understanding how to implement a talent acquisition strategy, like learning how to be a good manager, is about understanding the true value of your employees.
Although hiring is an investment in people, it's all too often viewed as just another high-cost expense. This might tempt employers to take shortcuts and view hiring as a constant, mechanical process. In order to attract critical talent, an organisation must be aware of current staffing trends and the state of the labour market.
One issue is that employers don't conduct exit interviews to learn the true causes of employees' departures. The following questions would be asked in an exit interview as part of an efficient talent acquisition strategy, one that takes a comprehensive approach to the candidate/employee experience.
About FlexC
FlexC is one of the best talent recruitment platforms in India because it was founded with the intention of connecting the best Indian talent with international markets. FlexC is committed to fostering a vibrant environment where founders, executives, passionate leaders, and recognised experts can socialise. Our platform's strength and the superior AI technology that distinguishes us are reflections of our commitment to excellence. We strive to be the best platform for managing hybrid workforces in addition to providing the best freelancer jobs in India.
