The changing paradigm of Talent Acquisition
“A company’s ability to be competitive, manage business performance and execute strategy increasingly depends on its finesse to manage workforce strategically. Talent Acquisition (TA) today is a strategic function and takes a lot of time of the key duo - the CEO & the CHRO in any organization. It is both a science and an art, it has moved completely away from the unstructured and traditional way to competency-based structured function.”
Global employees in a global village
The world being a global village, hiring cannot be confined to limited geography in this talent-hungry job market. Global companies like us look out for employees who can make a difference to the organization with specialized skills and competencies. Today Talent Acquisition teams are always on their toes and proactively locate, source and manage talent on a global basis. There could be Mexicans working in US plants, French working in Poland plant, Filipinos working in Dubai plant apart from Indians working in different parts of the world. For a global organization, Talent Acquisition must rise above the limitations posed by geographical barriers.
Apart from going borderless in hiring, another important trend that has marked the shift in the talent acquisition function is the rise of social media. Companies across the globe are using social media to post job openings and source profiles. Innovative companies, however, are leveraging social media to build talent communities and highlight good people practices of the organization to engage candidates.
Further, boomerang hire once considered a taboo is in vogue. Often under-used due to some skeptical beliefs, this is one of the practices that companies are deploying to leverage their alumni talent pool to their advantage. There has been a shift in the attitude of the employers and they are now seeing the long-term advantage in this initiative.
Another important trend in TA is employer branding. Finding top talent today is more difficult than ever. This calls for the recruitment function to behave like marketing. Companies these days are increasingly engaging themselves in enhancing the employer brand, having an understanding as to how the external stakeholders perceive an organization is the first step in creating and marketing the employer brand. I believe that employees today have plenty of options; this all the more compels even the top brands to find innovative ways to the source; nurture and retain talent.
Today, we are working in a world where millennial population forms the major share of the total workforce. They are constantly on a lookout for better opportunities and it’s no surprise to know that their one foot is always outside the organization. The digitally savvy generation is demanding and managing their expectations is a challenge in itself.
Organizations these days are focusing on attracting millennials and are introducing new and engaging initiatives to keep them on board. From a recruitment perspective, organizations are now ready to flex down their policies, compensation philosophy and engagement initiatives to address the newer generations.
As we set out to understand the current recruitment landscape, tomorrow it will again undergo a paradigm shift and the same would translate into an unimaginable transformation in the years to come. The key to survival in all times to come is being agile. Making the recruitment function agile means doing the same things like sourcing right talent pool, gauging skills and competence, delivering timely and effectively, branding and candidate experience; and finally, taking onboard the right fit. The startling differentiator will be doing all of these in ways responsive to the ongoing changes in the business and the market.
The changing paradigm of Talent Acquisition requires the integration of diversity, automation, technology, capability building, and innovation. Being agile means embracing a ‘customer-centric’ approach. It’s through this that the promise of increased productivity, efficiency, and higher-quality products and services can be fully realized making recruitment truly strategic.