What Does a Successful Talent Acquisition Strategy Look Like?
As we've seen over recent years, the labor market is suffering from a shortage of highly skilled workers.
With the decline in applications and increasing competition between companies, the demands of candidates are also increasing, as they have more options available to them in their search for a suitable job.
To ensure that companies can still find and retain suitable team members over the long term, a targeted talent acquisition strategy is needed. In this article, you'll become familiar with what Talent Acquisition is and how it can effectively be used to find future leaders for your company.
What is Talent Acquisition?
Talent Acquisition is the creation of a lasting strategy for sustainable recruitment. This strategy goes beyond the mere recruiting process, with the goal of attracting promising candidates to your company in the long term.
This includes both the search for suitable talent and the strategy needed to attract and hire these candidates for your company.
Thus, it's important to identify, recruit, and engage potential hires.
Sustained search, recruitment, and onboarding programs are developed and constantly evaluated to find and successfully implement the best strategies.
Recruitment, Talent Acquisition and Recruitment Marketing
Recruitment is the process of filling open positions as quickly as possible. Here, the focus is usually on more short-term solutions, whereas Talent Acquisition aims at a long-term solution for companies.
Consequently, it can be said that recruiting is a part of talent acquisition, but it also includes other steps. This includes candidate management, employer branding, the onboarding process of new candidates, and recruitment marketing.
Recruitment marketing is one of the key strategies of talent acquisition with some important components to consider. Among them are:
- A robust talent pool
- An enjoyable candidate experience
- A lead nurturing campaign
- Employer branding
The Role and Goals of Talent Acquisition
Both candidates and companies benefit from successful talent acquisition management.
For the candidates, this means that they can establish a bond with the company at an early stage, thereby increasing their motivation to contribute to the company. For companies, this means that they have faster access to talented candidates in the talent pool and that employees stay with the company longer.
One of the core tasks of talent acquisition is to find candidates and to be found by them. Companies therefore need a strategy to become more attractive to talented applicants and to stand out from the competition.
Incidentally, Talent Acquisition is not only aimed at recruiting new employees, but also at promoting qualified colleagues who are already in the company.
What Does a Talent Acquisition Manager Do?
A Talent Acquisition Manager or Talent Acquisition Specialist is responsible for the very first stages of Human Resource Management. He or she is responsible for developing a long-term workforce strategy, building a talent pool, developing lead nurturing campaigns, optimizing the candidate journey, and properly leveraging employer branding.
The Talent Acquisition Process
So how exactly should Talent Acquisition be structured to be successful in the long run? Talent Acquisition Specialists should pay attention to the following components:
Establishing Future Goals of the Company
Talent Acquisition does not just look at the current state of a company, but also incorporates future recruiting goals.
For example, if the company wants to expand, international staff should also be recruited. If the company is launching a digital product, Digital Marketing staff must be hired.
Using Employer Branding
The reputation of a company is not only influenced by the opinion of its customers, but of course by its employees as well.
Companies should therefore place a lot of emphasis on employer branding, because qualified candidates nowadays have a wide choice of companies to apply to.
Social media offers particularly easy access to information about the company and its work culture.
Creating a Talent Pool
When companies have a database of qualified talents, the recruiting process can be sped up significantly. Once created, this talent pool must also be maintained so that potential candidates choose your company.
In other words, companies should stay in touch with promising candidates and keep them informed about current developments within the company.
Expanding Sourcing Strategies
A Good Candidate Experience
A Successful Onboarding Process
Enhancing Talent Acquisition with Data Analytics
As a company, it's important to always stay up to date and get information about the most popular recruiting channels. Artificial intelligence and KPIs can also be used here.
As Head of Talent Acquisition, you should always be informed about which portals are considered popular and where you should post your job ad to reach the right target group.
Tips for Successful Talent Acquisition
One way to become a more attractive company in the eye of applicants is to ensure equality and diversity in the workplace.
This will also enhance creativity within the team. Equally important to talent acquisition are upskilling and reskilling the existing workforce.
Upskilling opportunities allow employees to reach their full potential. Thus, it may not always be necessary to recruit new talent.
Getting Ahead With a Strong Talent Acquisition Strategy
Successful talent acquisition can save your company a lot of time and resources. Long-term strategies to optimize recruiting processes help companies retain knowledgeable staff and see an increase in employee performance. If your company is able to find, hire and retain qualified employees for the long term, you will have a significant advantage in the labor market.