75% of HR professionals have recognized a significant skills gap in applicants, according to SHRM. The magnitude of this gap could potentially have an immense impact on the longevity of an organization and should therefore be addressed with urgency to ensure a prosperous future.
Too many organizations fall victim to the skills gap simply because they don’t have the necessary measures in place to ensure they attract top talent to achieve long-lasting success and sustainability in an evolving market.
The best way to mitigate this issue is to implement a talent acquisition team to identify top-quality candidates who offer the most skills and talent. With a sound talent acquisition strategy, you can fill positions time efficiently and advance the organization’s long-term objectives.
Many people wrongly assume talent acquisition and recruitment are the same, but this is not the case. However, for long-term planning and quick fixes, the terms recruitment and talent acquisition may be used interchangeably.
That said, there are some noteworthy differences between talent acquisition and recruitment, which we will highlight below.
During the recruitment process, hiring managers and recruiters actively look for talent to evaluate and hire the best candidates for the job openings the organization may have.
Most organizations have a standardized recruitment process in place, which is usually implemented when the organization is experiencing a high staff turnover or the company is rapidly expanding.
Recruitment is essential to ensure an organization hires the most qualified candidates for its immediate needs.
Talent acquisition, or talent scoping, is similar to recruitment in that it is also focused on seeking out top talent for an organization.
However, unlike recruitment, talent acquisition is more geared toward hiring talent that will contribute to the long-term objectives of the business. A solid talent acquisition strategy involves a flexible and dynamic approach, as the team will have to try new strategies and methods depending on the job position and the greatest skills shortages.
Every staff member in the human resources department must be well-informed about the organization’s long-term goals in order to align their ongoing strategy regarding talent acquisition with them.
The main difference between talent acquisition and recruitment is that recruitment is a reactive process of finding a competent candidate to fill a position that recently opened up. In contrast, talent acquisition involves tracking down qualified candidates for tougher positions that are likely to open up in the future.
Recruiting processes can be implemented in virtually any business or industry, whereas talent acquisition focuses primarily on niche industries, such as the medical, legal, technology, and engineering industries.
Talent acquisition revolves around finding the right person that offers the appropriate skills for a long-term position. Talent acquisition strategies are especially crucial when searching for future executives. This ongoing process ensures the organization doesn’t suffer a high staff turnover but rather hires candidates with a longer-lasting loyalty to the organization.
Recruiting and talent acquisition differ most significantly in the following areas:
Employer branding is a noteworthy area where recruitment and talent acquisition strategies differ. An organization’s employment brand is crucial in finding top talent, as it is a direct reflection of what candidates can expect from an organization.
An organization must focus on creating a positive image and good reputation for the business to attract the best potential candidates. An effective talent acquisition strategy includes ensuring the candidates have a positive experience whether they move on to the next phase or not.
The organization must also ensure a good reputation when it comes to company qualities and the services they offer. Although recruitment teams also have a significant part to play in employer branding, a sound talent strategy is more geared toward creating a good long-term reputation.
More planning is involved in a talent acquisition strategy than in a recruitment strategy, as it involves long-term strategic aims. The planning associated with talent acquisition considers the business operations and what the organization requires to grow.
A talent acquisition strategy requires you to look at the future of the organization with a broader lens while considering current staffing trends, so the strategic approach to talent recruitment will continuously evolve.
Conversely, recruiting teams don’t need to do as much planning in advance, provided they have an efficient recruitment process established. The hiring process can be swift and effective with the right formula in place.
Although recruitment teams still require some comprehension of the positions they are finding specific candidates for, talent acquisition relies heavily on in-depth knowledge and evaluation.
Talent acquisition teams also need a thorough understanding of how a specific position aligns with the organizational goals and how potential talent can contribute to overall business success.
With an in-depth understanding of the key metrics and skills and how they fit into the relevant department, talent acquisition managers have a deeper insight into the characteristics of qualified people necessary to fill the position most effectively.
Talent acquisition and recruitment are both centered around sourcing top talent. Therefore, a great deal of research is necessary to find the best talent pool and focus on sourcing top potential candidates for various vacant positions on job boards and fairs.
Once you begin communicating with potential candidates, building relationships becomes the top priority. Although recruiting also participates in this process, talent acquisition is more involved in the sourcing phase.
Acquisition teams need to keep in mind that these potential candidates are not supposed to fill immediate vacancies but rather be considered for future positions. When a position does open, the team can contact the candidates with whom they already have a relationship and find the right talent for the job.
Talent Acquisition is a long-term, ongoing strategy that identifies the experts and specialists in a particular field. Therefore talent acquisition teams must be knowledgeable in the requirements of every department.
This will aid in understanding the career expectations of top talent so you can create distinctive and customized human resources practices to ensure a steady talent pipeline.
If you want your organization to remain competitive and stay on the path to success, you must have both excellent talent acquisition and recruitment strategies in place. Both factors must be implemented in your hiring process.
That said, talent acquisition may be the best course of action for businesses as it considers the hiring process to be an investment. A talent strategy isn’t intended to take away from the importance of recruitment; both are essential for success.
Efficient talent acquisition considers engaging, attracting, hiring, and advancing potential candidates into the organization. Such positions can reside in virtually every level of the company, provided the organization thrives as a result.
As talent acquisition revolves around flexibility, it may be the only option an organization has to grow and scale the business. If an unexpected occurrence arises, recruiting teams won’t always be in a position to manage the change as well as talent acquisition strategies.
However, if the business is focused on filling open vacancies on a short-term basis, recruitment is a more effective approach.