Role Of Talent Acquisition

Before making a one-off payment, use your skills and realise that hiring the best people is a multi-year investment. This is where you and the HR department should talk about "talent acquisition". During the talent acquisition (TA), the major goal is to identify and meet all the labour requirements that a company have. Normally, a talent recruitment team is responsible for finding, acquiring, evaluating and recruiting candidates to fill vacancies. If there is a delay in the recruitment process due to inexperience, and skills, then the reason for it gets out of control. Delay in hiring in the recruitment process increases overall hiring costs and affects your organisation’s reputation as an employer. Nowadays, speeding up India’s recruitment process is pretty easier when hiring through some manpower staffing agency. While skilled recruitment and job posting used to be the primary TA method, this is no longer the case in India, like in other countries. To attract talent, employees need to have much more skills. Talent development is different today, and against this background, many TA professionals expect to plan and implement the same strategies as their counterparts in other parts of the world.

Benefits Of Talent Acquisition

    - Having the right talent is critical to the growth of any business, large or small. With a suitable talent-generation strategy, a business can secure its plans and prosper. Companies cannot expect growth without the ability to perform important business functions with the right resources.    

 - Recruitment is a time-consuming and costly process. According to a study by the Center for American Progress, the average cost of replacing an employee is $2,000 to $3,500 a year, more than double the average employee's annual salary. The application and interview process takes time, and it is never possible to finalise a real candidate in one or two days. Cases like the selected candidate might have to serve a notice period for at least two months in their current organisation, or you have hired the wrong candidate, etc., can affect the company’s budget. To fill a vacancy, companies must pay for ads, job portals, and headhunters. All of this together costs time and squeezes a company's budget considerably.     

- Running a business can be a struggle without a skilled and experienced workforce to perform the necessary business functions. Generic offers that are not tailored specifically to the candidate may not have the appeal needed to set them apart from other employers. 

- If your company wants to attract the most valuable talent, you should be prepared to make an offer that meets the company’s needs, not just the individual candidate. With the right approach to hiring, companies can save time and money in the long term.

- Going beyond the available candidate helps in attracting the passive candidates too. 

Some might be neutral towards a job change. However, if offered a better position, they will make a move. A futuristic talent-generation strategy ensures that there is always the right talent pool available to give you a competitive edge.