Why Talent Acquisition Outperforms Recruitment; Staying Ahead of The Employee Lifecycle.

If you talk to almost any HR department, talent acquisition is one of the biggest challenges facing businesses at the moment. It’s a major consideration in industries that are struggling to cope with skills shortages and technology shifts. And with the resources sector moving increasingly towards renewable energies and new ways of working, it’s never been more critical to stay ahead of the curve.

Research shows that a “global talent crisis” could cost countries around the world trillions of dollars in lost annual revenues by 2030. Many talent acquisition and employer brand executives have reported that their function has changed so quickly, that organisations have been outpaced by the changes, falling into default recruitment processes to try and reactively fill positions. Recruitment, a more linear process, fails to address the cyclical nature that talent acquisition strategies plan for.

Anticipation the Key to Winning the Race.

The best form of talent acquisition takes a cyclical approach geared towards building relationships, anticipating future hiring needs, and creating a sustainable pool of candidates. Using a long-term lens and a more strategic approach, it ensures that talent pipelines are developed, nurtured and maintained.

Some key elements that can differentiate your talent acquisition include:

  1. Planning and Strategy
    Take a deeper look at the nature of your business and an understanding of future workplace needs. A forward-thinking approach, take into consideration the local and global labor markets to implement in your planning and strategising.

  2. Workforce Segmentation
    Understand the different work segments within a company, as well as the different positions within those segments. Get clear on the skills, experiences, and competencies that each position requires for success.

  3. Employer Branding
    By fostering a positive image and company culture, you help to ensure your company’s brand is clear and attractive. Establishing a good reputation based on quality products and services will help to attract top candidates.

  4. Talent Scoping and Management
    Thorough talent acquisition practice requires researching and identifying the various places you can source candidates. Building relationships is done with the understanding candidates may not fill positions right away.

  5. Metrics and Analytics
    A complete talent acquisition strategy benchmarks key metrics to conduct proper tracking and analysis. Analysing relevant information from data collection is important to continuously improve hiring decisions, and ensure your quality of hire.

Taking Talent Acquisition to the Next Level.

A primary consideration in levelling up your talent acquisition processes is your employer  brand and company culture.This is an essential foundation for word of mouth and a source of free marketing. By leveraging the great talent that has already bought into your culture, you’re one step closer to building a healthy talent pipeline and bringing in vital skills to grow and develop as an organisation.

Another concept that is becoming more important in the wake of the pandemic is role flexibility. Within clear parameters, placing trust in your workforce and allowing them to do their jobs in an autonomous way reflects positively on you as an employer.

“The future of work doesn’t just require different skill sets, but entirely new ways of working. We will see successful organisations moving from a paternalistic approach to a more mature, flexible relationship with their people, built on mutual respect.”

— Korn Ferry, Global Organisational Consultants

Keeping Your People on Track.

When you take on new hires, you’re investing in people. Too often, HR and recruiting firms hold the view that they can be seen as just another costly expense. This may encourage employers to cut corners and see recruitment as a routine process that never changes. The relationship with candidates and potential employees shouldn’t end at the dotted line.

Talent acquisition takes an awareness of current staffing trends, the state of the workforce within your specific sector, and uses those insights to attract the best talent. And as is the case with all relationships, its success is dependent on a level of empathy, understanding, and an ability to give and receive feedback.

Employers who excel at talent acquisition strategy make sure candidates are right for a client company, but work equally to convince potential talent the client is the right company to meet their career expectations.

Sourcing and assigning resourcing industry professionals into specialist roles, we elevate existing capabilities to help you deliver projects safely, on time and on budget.

To get in touch, call us on 07 3607 6305 or email us at hello@concentis.com.au

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