The term “talent acquisition” refers to the method employed by employers for hiring, monitoring and interviewing potential employees as well as onboarding and the training of new employees. It’s usually the responsibility of the human resource (HR) department.

Talent acquisition typically consists of components of standalone software or that are part of more comprehensive Human capital management (HCM) systems to help in automatizing the hiring and recruitment process. The products that fall under this category are often referred to as systems for managing recruitment.

The process of acquiring talent is typically regarded as a strategy to the initial stages of management of talent, the process employers employ when hiring employees, deploying, and training, as well as evaluation of the performance and the compensation of their employees.

Why is it important to acquire talent?

The importance of acquiring talent is that recruiting and retaining the best people is an essential element of a business’s plan for success and directly impacts the future performance of the business. Without the right staff an organization is more likely to suffer from low productivity, poor decision-making and a disengaged workforce. These issues make it hard for a company to remain steady in a highly competitive marketplace.

Additionally, talent acquisition is innovative. Instead of recruiting a person to fill a vacancy the team responsible for talent acquisition is able to consider what the potential job-seeker’s future career paths might be within the company. In the end, talent acquisition makes sure that the company employs individuals who may ultimately become managers and higher-level managers within the company. Thus, the process of recruiting talent becomes less about filling vacant jobs and more about developing an overall strategic plan that will be used for the future of job openings.

A successful strategy for acquiring talent can also reduce risk across the company, as it decreases the likelihood of making a bad hiring. This means that it saves time and money that would otherwise be used to train poor hires, as well as increasing productivity.

Talent acquisition strategy

The process of acquiring talent often includes six steps:

lead generation and source
Assessments and interviews
Reference Checking Reference
Final hiring decisions

Teams have the option of choosing from a myriad of strategies for acquiring talent. Examples of this include the following:

Develop a solid brand. Make sure your company’s website as well as its culture and social media profiles attract both potential and existing job seekers. Branding is usually handled by marketing, HR and communications department. It could be an important aspect of attracting the most skilled candidates.

Create job descriptions that are as precise as you can. The requirements for candidates should be precise in describing precisely the type of candidate that is ideal. This will increase the chances that the company will discover what it is looking for.

Increase outreach to the company. Different skills and positions require teams for talent acquisition to utilize different methods of recruiting talent. Instead of using job websites that are general purpose such as LinkedIn or Monster for example, companies should utilize specific event boards for job postings, social networking, and academic programs. After the appropriate methods are discovered, teams must focus on developing relationships with the best talent in each of the groups. This will boost both the number of candidates as well as the brand’s awareness of the employer and make it easier to find new applicants in the near future.

Make use of data analytics to boost the process of acquiring. Talent acquisition is as a campaign for marketing as providing a pleasant candidate experience and convincing applicants that they are a good fit for the organization is as important as convincing customers to purchase goods or service. Data analytics can help reveal which areas the best talent in the organization came from, the reasons why certain questions hinder applicants from submitting applications and whether including an interview video about the company’s the culture can increase applications. In the end, data analytics can help ensure that the page descriptions of jobs and careers are drawing the right kind of individuals to the business.
Software to acquire talent

Employers — which includes small, medium and large firms as well as non-profit and government agencies can choose from a range of talent acquisition in Singapore technology options to select if they want to automatize hiring.

Certain employers choose to use the use of talent management software including Oracle Taleo Cloud. These are usually delivered via software as a services (SaaS) platforms, and provide recruitment, performance management training, compensation management and management tools.

Other major talent management companies include SAP and its SuccessFactors software, IBM Kenexa; Cornerstone OnDemand; SilkRoad; and UKG (formerly Ultimate Software and Kronos). Numerous smaller and startup vendors offer integrated systems for managing people.

Another option employers can take is to utilize dedicated recruitment or talent acquisition software that comes from vendors like Recruitee, JazzHR and MightyRecruiter.
Job boards

Another alternative for recruiting talent is job boards or job market places, like SimplyHired, ZipRecruiter and Indeed where employers can post job openings. The long-standing participants in this market are Monster as well as Glassdoor.

One vendor – named Hired reverses the processby providing jobs boards-like systems where job seekers can accept interview opportunities from prospective employers.

Furthermore, big technological and social media players like LinkedIn and Google are also on the marketplace with excellent job-matching capabilities jobs, business networking and job-search services. Recruitment specialists and talent acquisition specialists are increasingly using these platforms as part of their social media-based recruiting strategy.

When a candidate is hired and is then made employed, the employers can avail digital alternatives to traditional post-hiring paper-based process commonly referred to as onboarding the next stage in the process of acquiring talent.

Employee onboarding involves online enrollment for benefits, welcome emails and team introductions and signing up to employee engagement and wellness initiatives.

Major players in HR technology like Cornerstone OnDemand, Oracle and SAP offer onboarding services in addition to smaller HCM suite providers like Zenefits and Namely and ERP providers like NetSuite.
Recruitment and acquisition of talent. recruitment

Although recruitment and the acquisition of talent have the same goalthe need to fill post-employment opportunities, they are distinguished by numerous distinctions. The main difference is that recruiting concentrates on the moment within the company while talent acquisition is focused on the future of the business.

That is to say, recruitment is more focused on filling a vacant job as fast as it is possible While talent acquisition offers more thought to the goals of the company and will take the time to identify the right candidate who matches the company’s needs. To see this from a broader angle Talent acquisition teams look at the abilities of prospective employees, and also their potential growth and contribution to the corporate the company’s culture.

Smaller differences are in addition to the main difference. They can be described as follows:

The process of acquiring talent usually takes more planning and time than recruiting.
Talent acquisition employs data analytics and metrics to help improve the recruitment process and help make better decision-making about hiring.
The process of acquiring talent relies on teams recognizing the different functions and areas within a business and the required skills and knowledge to succeed in each one. The recruiting process is not as attentive to these aspects.
Talent acquisition is more focused on finding the most effective places to find the best talent for specific positions and creating relationships with people in these different areas. Recruitment is more likely to utilize a general-purpose job search site , and doesn’t spend too much time on managing relationships with prospective or former applicants.

In the end, while the recruitment process is linear and reactive while talent acquisition is strategic and cyclical. Recruitment is focused on meeting an immediate need, whereas the process of acquiring talent focuses on building an effective pipeline of talent to anticipate future demands.

Talent acquisition specialist job description

A talent acquisition specialist could be defined as an employee that focuses on recruiting, identifying, and sourcing particular kind of employees. Specialists in talent acquisition are typically employed by businesses in jobs markets that are expanding and evolving in areas like finance, healthcare, and technology.

The responsibilities of a talent acquisition specialist are:

creating a diverse and qualified workforce;
managing and participating in networking and recruitment events including job fairs, conferences, and conferences;
anticipating the department’s quarterly and annual recruitment needs.
working with HR and hiring managers to identify the needs of staff;
creating job descriptions and preparing interview questions specific to each job opening
The selection criteria to be used for open positions
Analyzing resumes and applications for candidates;
offering managers feedback on CVs, applications and other resumes.
finding talent online through channels, including LinkedIn, Facebook and professional networks;
Planning interview and selection methods including every step from initial screening interview until the job offer
developing relationships with prospective candidates as well as previous applicants.
working in partnership with managers to assure that hiring processes are ethical and fair;
conducting interviews with applicants in the beginning to determine their level of interest as well as their personality and salary expectations.
ensuring that the onboarding process goes smoothly and that new employees quickly complete all the necessary documentation.

Talent acquisition specialist usually include a bachelor’s level degree in a discipline related with human resource managementtypically with a concentration in management or talent acquisition — and at minimum five years of prior HR experience. Experience with the entire cycle of recruitment, Microsoft Office applications, professional networks, resume databases as well as social media sites are required.

The majority of employers prefer candidates who have experience directly in hiring and screening practices. Some companies are also looking for applicants who have demonstrated proficiency using the applicant monitoring system (ATS) and the human data system (HRIS). Employers may also be looking for candidates who are aware of the labor unions, state laws regulations and practices and contracts such as nondisclosure and service-level agreements.