A Comprehensive Guide to Talent Acquisition Management

Succeeding as a business requires the right people in the organisation and the top talent in the industry. To achieve this, it’s vital to have an effective talent acquisition strategy in place, which brings us to the importance of talent acquisition management. It should be noted that there is a distinction between ‘talent acquisition’ and ‘talent management’ as these are two different stages of human resource management (HRM), but both are equally important aspects of attracting and retaining top talent.

This guide will focus on talent acquisition management and its significance to businesses.

Table of Contents   What is Talent Acquisition Management?  The Importance of Talent Acquisition Management  The Talent Acquisition Process Talent Acquisition Strategies  Talent Acquisition vs. Recruitment: What’s the Difference?

What is Talent Acquisition Management? 

​​Talent acquisition management is basically the way in which organisations manage their talent acquisition process. The talent acquisition manager and/or talent acquisition management team will be responsible for creating and implementing the business’ talent acquisition strategies, which involves finding ways to attract the top talent to the business and matching the right people to the right roles. An important aspect of the talent acquisition management process is employer branding and making sure that the company upholds a good reputation for potential employees. The employer brand must be strong and positive in order to attract the best talent, but it must also be clear so that potential candidates have a really good idea of what they’re applying for and the kind of organisation they would be entering. Another essential part of talent acquisition management is guiding candidates throughout the whole recruitment process, all the way from sourcing to offering them a job.

So, what is talent acquisition management? To summarise, it’s the key to attracting and securing the best talent for your organisation.

The Importance of Talent Acquisition Management

Here are 5 reasons why talent acquisition management is so important: 

1. Employer Branding 

Employer branding is an important aspect of talent acquisition management as this is a great opportunity to build and maintain a positive reputation for the company. This involves defining exactly how you want potential applicants to view the business as a place to work, which ensures that the right people will want to work for your business. The brand should also clearly communicate the company culture so that candidates can determine if they would be a good fit. It’s useful to consider how you want to position yourself as an employer in comparison to your competitors.

2. Attracting Top Talent 

As we’ve mentioned, talent acquisition management is the key to attracting top talent. Managing this ensures that you have an effective strategy in place to support your organisation in attracting the top, qualified candidates within the industry.  With the right talent acquisition management strategy in place, not only will you attrac t the best talent, but it could also enable you to do it more efficiently – sourcing and attracting talent will essentially be an easier and more straightforward process in the long-term. As your organisation attracts top talent, your employer branding also improves, which would then lead to attracting more top talent, and so on.

3. Build Good Relationships with Candidates 

Implementing effective talent acquisition management into your company will enable you to build and maintain good relationships with candidates. By providing a professional and positive experience for candidates, they are more likely to choose your company and want to work for you. This goes for both current candidates as well as future candidates, as it also allows you to maintain relationships with the candidates who don’t get selected for a specific role. When another opportunity comes up in the future, these candidates may still want to work for your company as long as you leave a good impression so ensure that the candidate experience is positive all throughout the process.

4. Selecting the Right People 

Another reason as to why this is so important is the role it plays in making sure the right people are selected for the right roles. Depending on the scope of the talent acquisition manager’s role, they could be in charge of managing the talent acquisition for specific roles, or maybe different departments – so the shortlisting and selection process is always crucial.

If the right people are selected from the get-go, these employees are more likely to stay at the company. Selecting the right people will have a ripple effect throughout the whole organisation, which emphasises the importance of talent acquisition management.

5. Reduce Failed Recruitment 

It goes without saying that failed recruitment is a waste of resources – for instance, when a new hire quits straightaway or when an employee ends up not being the right fit for the role, it will take time and money to rehire for said role. Although this could be down to a multitude of reasons, talent acquisition management can definitely play a big part in reducing the number of failed recruitments. Going back to the previous point of employer branding, it’s important for the branding to be clear so that candidates can have a good understanding of the role and the company right from the start. This sets their expectations accurately to begin with, so that if they are selected, they are less likely to leave due to the reality of the job being different from their initial expectations (which is a common reason for new hires quitting quickly).

The Talent Acquisition Process

The talent acquisition process will differ for each organisation and its specific needs, but this is an example of what the different stages of the process might look like:

1. Assess the organisation’s need for talent 

Begin by identifying and assessing what the organisation needs in terms of talent acquisition for the present and the future. For instance, consider which positions are currently open and what the specific requirements are for each role, but also consider which positions are likely to open in the future in order to prepare for these.

2. Develop a talent acquisition strategy 

Develop a talent acquisition strategy based on the organisation’s current and future needs. Assess the current strategy and identify its strengths and weaknesses. How can the current strategy be improved, and how can the new talent acquisition strategy be effectively implemented?

3. Source candidates 

Now that you have a good idea of the candidates you’re looking for, it’s time to find and source them. Find out where these candidates are likely to be – this could be social media platforms such as Linkedin, or events such as networking events and conferences, and build a talent pool of potential candidates accordingly.

4. Short-list candidates

Based on the applications received, the next step is to shortlist candidates for interviews.

This can be done through evaluating CVs and cover letters, carrying out background checks and phone screening interviews.

5. Carry out interviews 

Before carrying out interviews, make sure that you have an interview plan with a list of questions to ask. This stage could also include other assessment tasks – for instance, if the interview is for a technical role which requires a demonstration of skills. This is the opportunity to meet candidates face-to-face and really get to know them.

6. Select candidate(s) 

After having interviewed candidates, the next step is to make your selection. Make sure to take everything into account and ensure that the candidate is the right fit for not only the role, but also the company.

Talent Acquisition Strategies

Here are 4 tips on how to improve the talent acquisition process: 

1. Develop an employer branding strategy 

Develop a strategy for employer branding based on how you want potential candidates to view your company. Begin by identifying your target audience and considering the type of candidates that your organisation wants to attract. Then define your value proposition – why would potential candidates want to apply for a role at your company? What do you have to offer? Also make sure that the branding is clear and transparent to candidates so that they have a good understanding of the company culture from the get-go and their expectations are set realistically.

2. Always have employee retention in mind 

Employee retention should always be kept in mind during the talent acquisition process.

It may be tempting to manage talent acquisition with short-term goals in mind, for instance, hiring someone as quickly as possible to shorten the process, but if the process is rushed and the new hire is not the right fit for the role, this could have negative consequences. Remember that retaining employees is extremely beneficial for the company in the long run.

So, make sure that the talent acquisition strategy is effective in order to attract ideal candidates that are the right fit for the company, who are then more likely to stay longer.

3. Undertake competitor analysis 

Do some competitor research and find out as much information as you can about your competitors’ talent acquisition process and strategy. Find out how they source their candidates – are they using a particularly social media platform? Could you utilise this platform too? Use this research and analysis to stay competitive, improve your talent acquisition strategy, and ensure that you attract and hire the top talent in your industry.

4. Utilise software and platforms 

The use of talent acquisition software or platforms can help to streamline your talent acquisition process. Qandle’s all-in-one HR software includes a module specifically designed to help you attract and hire the best talent [link].

This includes features such as:

–   Hiring planning

–   Candidate sourcing

–   Requisition management

–   Simplified interviewing

Talent Acquisition vs. Recruitment: What’s the Difference? 

Talent acquisition and recruitment may sound like the same thing, but they’re not. Here are some key differences between the two:

Talent Acquisition	Recruitment
Talent acquisition is an on-going process with no particular end date	Recruitment is typically the reactive process in place when a position in an organisation must be filled – once the position has been filled, the recruitment process is over
Talent acquisition management includes both the current and future talent needs of the organisation	The focus of recruitment is fulfilling the organisation’s current and immediate talent needs
Talent acquisition has a long-term focus	Recruitment has a short-term focus
Recruitment is part of the talent acquisition process	Recruitment is a stand-alone HR function
Talent acquisition management can contribute to increasing employee retention and decreasing employee turnover	The main focus of recruitment is to hire new employees

Talent acquisition management is so important as this ensures that the organisation is able to attract the best talent in the industry not just right now, but also in the future. It’s important to note that talent acquisition goes way beyond recruitment as it allows you to have a long-term strategy in place which also helps you to stay ahead of competitors. Talent acquisition management is an ongoing process so organizations must stay consistent with this in order for it to be effective.

Assess your organisation’s talent acquisition process – do you have an effective talent acquisition strategy in place?