The author has made an effort in the blog, to review the different approaches available for talent acquisition strategies.. He has also proposed his own talent acquisition strategy for the successful organizations. We must bear it in mind that talent acquisition strategies are very critical for any organization. They decide the future of its products, processes, marketing aspects, technology, its people and the organization itself.
Since , an enormous amount of literature is available on the topic, only 9 best articles published have been reviewed in this blog.
For the better understanding of this blog, the author requests you to go through the following blogs, which , CHRMP has published earlier.
1.0 Approaches Available for Talent Acquisition Strategies
If we scan the literature, we find that researchers have done lot of work in evolving appropriate talent acquisition strategies.
We have made an effort to review the current status with respect to the above.
1.1 As per the reference, blog.hubspot.com
The reference , blog.hubspot.com , in their article by Caroline Forsey, outline the following 4 talent acquisition strategies:
- Align with your business goals
- Use data and marketing to create better acquisition material
- Expand outreach strategies
- Focus on employer branding
However, in the beginning of the article, she has defined talent acquisition and recruitment and also the differences between the two.
She concludes the article by putting topmost emphasis on employer branding with the following quote:
“To succeed with talent acquisition, you'll need to be able to answer the question, "Why your company, over all the others?" This is why, employer branding is a critical strategy for finding the best employees.”
1.2 As per the reference, upright.com
The reference , upright.com, in their article, by Ginni Agarwal, outline the following strategies for talent acquisition:
- Say no to extensive hiring process
- Companies are looking to hire trained candidates
- Employer branding would be the key
- Use of data analytics will be on the rise
- Creating a work culture that will improve the HR roles
- Inbound recruitment can be helpful
- Recruiting via social media
- Collaborative hiring
- Work on retention of employees
- Utilize your company’s LinkedIn profile
- Use a better approach in writing job description
- Involve your best employees in the recruitment strategy
- Observe the on-line reviews
- Look for potential candidates
1.3 As per the reference, edsisolution.com
The reference , edsisolution.com, in their article by Jill Monte, outline the 5 strategies which are: -- Employer branding, positive culture, workforce planning source and recruit job candidates, and use of data analytics.
- Apart from the above, useful insights have been provided on 4 stages of workforce planning, and also to the business challenges being faced by organizations.
1.4 As per the reference, peoplescout.com
The reference , peoplescout.com, in their article , have given latest insights as follows:
- COVID-19 series: How the pandemic impacts talent programs
- COVID-19 and the workforce, November 6, 2020
- High-volume-veteran-focused hiring solution
- Coach to learn, learn to coach
Out of the above useful insights, coach to learn and learn to coach is the most vital talent acquisition strategy, which we must follow. The another is veterans-based-hiring solutions. Veterans are being recognized as an asset, owing to their long experience and unique skillsets acquired over a life time.
1.5 As per the reference, blog.o2employmentservices.com
The reference , blog.02employmentservices.com, provides the latest article , prepared on February 24, 2020 , by Michelle Nystrom.
It clearly spells in which industrial sectors, the talent acquisition strategy is the most valuable, along with its benefits. With respect to “how to build an effective talent acquisition strategy”, the author gives the following suggestions:
- Clearly define your ideal candidate
- Assess current hiring process
- Align goals with human resources
Other aspects which have been covered are: conducting workforce planning consisting of analysis of supply, demand, gap and solutions; collaboration with departments to leverage ideas; focus on employer branding and nurturing and investing in candidates.
1.6 A per the reference, talentnow.com
The reference , talentnow.com, in their article, have listed the following 7 strategies:
- Merging talent acquisition with business goals
- AI-driven talent acquisition
- Candidate experience should be the first approach
- Organized hiring process
- Social recruiting
- Inbound recruiting
- Employee referrals
Very useful insights have also been given in each of the above strategies. These insights, as per the author of this blog , are extremely valuable.
1.7 As per the reference, skeeled.com
The reference , skeeled.com , their article by Daniela Costa, have evolved a new methodology to evaluate the effectiveness of talent acquisition strategies. They have also provided 7 new HR metrics , to assess the effectiveness of talent acquisition strategies. These are:
- Time to hire
- Cost per hire
- Qualified candidates as per opening
- Quality of hire
- Offer acceptance rate
- Satisfaction rate
This is a valuable information and may be very useful.
1.8 As per the reference, cgtstaffing.com
The reference , cgtstaffing.com, in their article published on April 27, 2020 have suggested the following 8 talent acquisition strategies.
- Build on employer brand
- Make retention your focus
- Be agile and flexible
- Encourage all the stakeholders
- Leverage technology
- Promote internal mobility
- Improve the candidate experience
- Raid talent of competitors
These strategies have been designed specially to retain the top talent in an organization.
However, the author of this blog is of the opinion that these strategies may be good not only for retaining top talent, but also for any other purpose viz. a coherent team and or a successful organization.
As per author of this blog, the last strategy “Raid talent of competitor” does not appear to be ethical. However, in modern day world where cut-throat competition is order of the day, people may also justify it.
1.9 As per author, the reference, blog.chrmp.com
1.9.1 Eight elements of talent acquisition strategy proposed by author
The reference , blog.chrmp.com , in their article , by Dr. Damodar Rai, suggest the following 8 elements of talent acquisition strategies:
- Evolve talent acquisition strategy after integrating it with business goals
- Keep focus on employer branding
- Diversify your sourcing approach
- Inbound recruitment
- Emphasis on retention of employees
- Bring in the best of HR principles to motivate and coach employees
- Make the best use of technology
- Keep provision for evaluating the effectiveness of talent acquisition strategies.
Each strategy has been discussed intensively, the readers may find it useful.
1.9.2 Bring in the best HR principles to motivate and coach employees.
The author has elaborated the 6th talent acquisition strategy , evolved by him, namely “Bring in the best HR principles to motivate and coach employees” , in great detail. It consists of the following:
- Boost morale and keep employees motivated
- Coach and develop employees to keep them achieve their full potential
- Creating a work culture will improve HR roles.
- Educating employees about how to maintain a healthy work life balance
CHRMP has done an extensive research on how to maintain a healthy work life balance in modern day world. We have published the following blogs on the same. The readers may refer to them.
- Let employees feel that they are stakeholders in the organization.
- Make sure employees have the resources they need to do well.
- Combine inclusiveness with diversity to get the best results in your organization.
CHRMP has done extensive research in this field. You may get benefited by the following, blogs.
- Nurture creativity among employees. It is one of the best HR practice which we must adopt. For more information, you may refer to the following blog, which ,CHRMP has published earlier.
- Foster a strong emotional culture in your organization. The author has published following blogs, in this respect, please read them. They may prove to be useful fostering emotional cultures in your organization.
Based on the above discussions we may arrive at the following conclusions
- Employer branding appears to be the most favorite talent acquisition strategy. This has been mentioned by almost each and every one of the nine articles mentioned above.
- One article mentions 7 HR metrics, for evaluating the effectiveness of talent acquisition strategies. This is a very valuable insight.
- The importance of an effective talent acquisition strategy is immense and it is the only way to remain competitive in the market.
- Each organization should devise its own talent acquisition strategy, based on its business goals, local conditions and other related aspects.
- Copying the talent acquisition strategies of other similar organizations may not be useful.
1. 4 Talent Acquisition Strategies to Find the Best Employees
2. Talent Acquisition Strategy – 2020 to Hire the Best Candidates | UprightHC Blog
3. EDSI - 5 Key Talent Acquisition Strategies for Hiring Better Talent…
4. Effective Talent Acquisition Strategies | PeopleScout
5. How To Build An Effective Talent Acquisition Strategy
6. 7 Talent Acquisition Strategies for 2019 | Talentnow Recruit
7. How to Evaluate the Effectiveness of Your Talent Acquisition Strategy
8. 8 Innovative Talent Acquisition Strategies to Retain Top Talent
9. 8 Elements of An Effective Talent Acquisition Strategy For Successful Organizations