Talent Acquisition: A Win-Win Situation for Recruiters and Employees

Abstract

The objective of drafting this research paper was to give a glimpse of how technology and talent acquisition have intertwined. It also covers the procedure of talent acquisition. The research has been done till depth about the topic to study about its impact on organizations, cognitive assessments, and incorporated technology in realm with human resources. The research methodology includes in depth secondary research related to the topic. It also gives a clear picture of how it is a win-win situation for the recruiters and employees at the global level.

Introduction

I. INTRODUCTION

A. Talent Acquisition

Talent acquisition is an approach to recognizing and hiring certified people to fulfil the desires of your company. The talent acquisition team is accountable for evaluating and hiring skilled workers to meet the employment needs within a company. The major focus of talent acquisition is towards creating a sustainable future with a strong backbone of the working labour force and maintaining the company brand at the same time.

In some organizations, the talent acquisition team falls under the human resource department whereas in other companies it has its independent department while it also functions in coordination with the HR department. The standard skill set of the professionals in this field are hiring and recruiting, assessments of candidates, fluency in branding practices and sourcing strategies (Smart Recruiters, 2021).

II. RESEARCH METHODOLOGY

The objective of drafting this research paper was to give a glimpse of how technology and talent acquisition have intertwined. It also covers the procedure of talent acquisition. The research has been done till depth about the topic to study about its impact on organizations, cognitive assessments, and incorporated technology in realm with human resources. It also gives a clear picture of how it is a win-win situation for the recruiters and employees.

III. TALENT ACQUISITION PROCESS

A. Developing a Specific Talent Acquisition Strategy

Depending about each company, it is mandatory for the TA strategists to develop a knowledge-set of the industry that the company contributes to, as well as the company’s employment needs (Valamis, 2018).

B. Build Talent Pipelines

The acquisition of talent is an intermittent process, therefore proficient talent acquisition strategy relies on a stable flow of talent. And to maintain a continuous flow of talent for the organization is by structuring talent pipelines that the company can rely on (Valamis, 2018).

C. Build strong Employer Branding

Corporate branding is the major reason for productive Recruitment Marketing and Talent acquisition. Candidates that are resourceful for the company are made aware of the organization and what it offers (Valamis, 2018).

D. Talent relationship management

Before active recruitment begins, the environment and the culture of the company is presented out to the skilful individuals as a place they would like to work at. Since talented individuals always seek out better opportunities, they are also looking at the quality and reputation of the workplace(Valamis, 2018).

E. Recruitment (involves five states)

Candidate sourcing – where you actively examine possible pools of applicants;

Lead nurturing – which includes cultivating a pipeline of the candidates;

Candidate selection – which is a procedure of short-listing potential candidates to be hired; Interviewing – where discussions with short-listed candidates are conducted, which results in final selections;

Onboarding – which is the incorporation of the hired individuals in the organization (Valamis, 2018).

Repeatedly evolving expectations around how companies allure and recruit talent, associated with the urge to be agile and respond to wider changes in the economy, is building a fundamental shift in the talent acquisition world(Manzo, Bist, Denton, & Cameron, 2020). The organizations that are agile and progressive tend to leverage technology intelligently to deliver on their goals focused mainly on TA and marketplace evolution:

a. Emergence of TA Suites: TA Suites,” the term that was coined at the new era forefront, refers to the solutions that manage the entire hiring process – from sourcing through selection and onboarding. The main aim of suites is to provide the customer with a method to manage the end-to-end procedure with a particular single tool, which acts effectively as a “one-stop-shop” for candidates and employers(Manzo, Bist, Denton, & Cameron, 2020).

b. Accessing new Talent through Broader Talent Pools: The main trend of the future of work is the shift to utilise an alternative workforce as a feasible part of a company’s talent strategy. In addition to this many, more organizations are actively hiring from within, generating improved career mobility. The tools that were historically used for hiring and recruiting external candidates are now being used for both on-balance and off-balance sheet employees(Manzo, Bist, Denton, & Cameron, 2020).

c. Infusing AI across TA life Cycle: As Artificial Intelligence already has its source connected to talent, the same way it is now being injected in almost all phases of the talent acquisition life cycle. For example, we can see that AI is providing us with real- time, support that is hyper-personalised and perceptions through controversial AI(Manzo, Bist, Denton, & Cameron, 2020). The controversial AI agents are showing results that are promising by increasing the relevancy and volume of finished job applications through standard procedures. The organization’s diversity is being increased with the help of new AI solutions through upgraded job descriptions and data insights that are faced by the candidates, as well as assisting reduce the concept of being biased during the selection process (Manzo, Bist, Denton, & Cameron, 2020).

d. Bundling of video Interviews and Assessments: Due to the emerging TA suites, many TA technologies have broadened the functionality to distribute the TA cycle more historically. The requirement of changing the norms were provoked by the COVID 19 crisis, which increased the need for video conferencing and interviews (Manzo, Bist, Denton, & Cameron, 2020). This became inevitable with the complete transfer to virtual interactions for almost all organizations. Individuals are getting familiar with virtual interviewing as it is called the new normal. This has led to candidates having more confidence during the procedure (Manzo, Bist, Denton, & Cameron, 2020).

The listed trends are not reliant on just technology but focus on the evolution of tech to mark the changing ways of how organizations identify, recruit, hire, and interact(Manzo, Bist, Denton, & Cameron, 2020).

IV. INCORPORATING TECHNOLOGY INTO THE REALM OF HUMAN RESOURCES

Integration of Technology has proved to be an enabler for the Human Resource departments across the globe(BW Online Bureau , 2021). It has facilitated in breaking the geographical barriers. The corporate is now able to pace up the process of assessing and evaluating the talent pool in order to identify the suitable candidates who are organisation fit as well as culture fit in their companies. Technology has also assisted in recognising the right people for the right job at the right time (BW Online Bureau , 2021).

V. COGNITIVE ASSESSMENTS

The corporates which have adapted to Technology – based assessment in their recruitment plan is able to remove prejudices and other human errors (BW Online Bureau , 2021). It reduces the time to evaluate a large number of candidates along with giving clarity on the positioning of each candidate. When the candidates are placed appropriately, it enhances their capacities and capabilities to handle the difficult situations within deadlines (BW Online Bureau , 2021).

The technological tools adopted by the corporate are equipped to evaluate the critical traits possessed by the candidate in complex sectors, thus promoting independent decision- making. It also assesses the cognitive qualities and the ability to solve the problems (BW Online Bureau , 2021). Corporates prefer to use cognitive evaluation techniques as compared to traditional selection procedures as these techniques can predict the success of the employee in knowledge-based roles in various sectors (BW Online Bureau , 2021).

VI. BENEFITS FOR RECRUITERS

1. Access to Top Talent: By using various sourcing techniques like job boards, social media, and professional networks, recruiters can find talented candidates who may not have actively applied for a position.
2. Enhancing Employer Brand: When recruiters showcase an organization as an attractive employer, it becomes easier to attract high-quality candidates it is like presenting an organization as a good place to work, where people want to be a part of something remarkable. A positive employer brand also leads to more employee referrals, which is like having your own cheerleading squad.
3. Reduced time-to-hire: Implementing efficient talent acquisition practices speeds up hiring. With technology like applicant tracking systems and automated screening tools, recruiters can quickly find the right candidates. It is like having a superpower to fast-track the recruitment process.
4. Improved Retention Rates: When recruiters focus on finding candidates who fit the job requirements but also gel with the organization's culture, it creates a happy and engaged workforce. It is like finding the missing puzzle piece that completes the team. This reduces turnover costs and creates a stable environment.

VII. BENEFITS FOR EMPLOYEES

1. Job Opportunities: Talent acquisition efforts increase job seekers' chances to find exciting opportunities. It is like shining a spotlight on those hidden talents, ensuring they don't remain unnoticed. Through active sourcing and employer branding initiatives, organizations make it easier for talented individuals to discover and apply for their dream roles.
2. Career Growth: Talent acquisition processes help employees find roles that offer room for growth and advancement. It is like opening doors to new opportunities and possibilities. When companies invest in employee development and provide clear career paths, employees can soar.
3. Cultural Fit: A well-executed talent acquisition strategy ensures that candidates have the right skills but also blend well with the company culture. It's like finding a family where you feel valued and supported. Assessing cultural fit during the hiring process creates a harmonious work environment.
4. Competitive Compensation and Benefits: Talent acquisition efforts often lead to attractive compensation packages and comprehensive benefits being offered. It is like being recognized and rewarded for your dedication. High salaries, bonuses, healthcare benefits, flexible work arrangements, and professional development opportunities make employees feel valued and appreciated.

VIII.  A WIN-WIN SITUATION FOR RECRUITERS AND EMPLOYEES

Talent acquisition benefits both recruiters and employees. Recruiters gain access to top talent, build a positive employer brand, reduce hiring time, and improve retention rates. Employees, on the other hand, gain access to job opportunities, career growth prospects, a supportive culture, and attractive compensation packages. It's a win-win situation that creates a mutually beneficial relationship. The situation is both advantageous for the employers and the employees as job seekers can learn new skills. The assessment of a candidate’s skill-level is not accurately possible by totally being dependent on his physical documents and credentials. Nowadays, technology plays a key role for the recruiters to possibly evaluate the competencies of the candidates (BW Online Bureau , 2021).

Conclusion

Thus, use of technology has undoubtedly empowered the companies globally to strengthen their recruitment procedures and hiring methods for selecting the right talent for their organisations.

References

[1] BW Online Bureau . (2021, July 25). How Is Technology Transforming The Talent Acquisition Process? Retrieved from bwpeople.businessworld.in: http://bwpeople.businessworld.in/article/How-Is-Technology-Transforming-The- Talent-Acquisition-Process-/24-07-2021-397834/ [2] Manzo, S., Bist, B., Denton, A., & Cameron, E. (2020, September 29). Talent acquisition tech trends. Retrieved from Deloitte: https://www2.deloitte.com/us/en/blog/human- capital-blog/2020/talent-acquisition-tech-trends.html [3] SmartRecruiters. (2021). Talent Aquisition. Retrieved from SmartRecruiters: https://www.smartrecruiters.com/resources/glossary/talent-acquisition/ [4] Valamis. (2018, October 24). Talent Aquisition. Retrieved from Valamis: https://www.valamis.com/hub/talent-acquisition#talent-acquisition-process

Copyright

Copyright © 2024 Dr. Pooja Sharma. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.