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New Trends In Talent Acquisition

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In the era of where organizations are faced with fierce global competition and hunger to be at the top is becoming a sort of feeding frenzy, acquisition and sustaining of talented employee’s is a factor that ensures success of an organization in the long run and it is a major responsibility that lays in the hands of line managers, human resource department to recruit employees that acquire the skills that are required to carry out the roles and responsibilities of a particular position. Hence with the available resources and technologies, there has been a gradual shift in the recruiting trends especially with the diverse roles and positions available in an organization, which puts great emphasis on the HR department to not just fill these vacant positions but finding the suitable candidate.

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Acquiring the right talent has become a challenging task as the pool of applicants are significantly large and the insights as to the methodology and techniques that are incorporated by the organization to filter these applications is a function that should not be ignored and also how to attract a large pool of applicants being a difficult task altogether. There is a constant requirement by the HR department to step up their game and stay in touch with changing environment so that they can beat their competition and leverage their strengths attract the required talent.

Change in the philosophy of recruitment

Though there are several diverse disciplines that come under the HR division, of late the most problematic change has been experienced in the recruitment process. The technological improvement which has led to fast development of web – based recruiting has changed the way organizations approach the market and also social networking has provided a better approach to receive more applicants. There has been a major impact on the budget and applicant pool due to unfavorable economic conditions and unemployment having a wavering influence on the market. Basically there are certain philosophies of talent acquisition that have to be questioned.

There has been a noticeable change in the relationship between a job applicant and a recruiter, living in an era where there is a never – ending scarcity of talent, the reality that is faced by many organizations now days is “that they now have to sell the benefits of any vacancy to candidates as much as candidates have to sell their ability to do the job.” In a survey carried out by Webster Buchanan Research in which 100 HR managers last year 85% of respondents agreed that recruitment should be viewed as a sales and marketing exercise, requiring a good corporate image, good marketing skills to identify the best candidates, and good sales skills to encourage them to join. A similar number – 87% – also agreed that HR should actively seek to learn lessons from their colleagues in sales and marketing in order to improve recruitment effectiveness.

The philosophical change is beginning to present itself more predominantly specially regarding the concern of candidate experience which is often triggered at the first interaction with the prospective employer and now days is more often than not occurring over the web. Astute designs of the websites have made it particularly effortless for the applicant to navigate through the page which advertise the company and also specifically the vacant job position and the applicant can even apply for the job online. After a candidate applies for a vacant position, the competence of the organizations HR’s department will determine the candidates experience by providing the applicant guidance whether they want to be a part of the organization or not.

A growing trend that has been pursued by organizations recently in respect to hiring is that, whenever a high potential candidate applies to an organization for the first time, the applicant is intentionally declined with the idea of maintaining a long term relationship in the case that opportunities may present itself in the future. This is carried out by recognizing the positions that the applicant will most likely be interested in and sustain their interest by regular communication. This concept is known as Candidate Relationship management which is similar to the Customer Relationship Management which is often a discipline that is adhered by the sales and marketing department.

Social Media

The contribution of the internet to the rise in social media and networking has played a significant role in propelling every aspect of a modern day organization. It has revolutionized the way organizations carry out its business activities and in this respect the HR department has identified social media as powerful tool in acquiring required talent specially when it comes to skill specific talent. Social media can be used as a platform to promote organizational culture which in turn would help the job seekers in accessing if they can see themselves fitting and succeeding in the position and also help the employer to understand if the applicant is in align with the organizations core values. Moreover, it serves for more than just promotion of the organization culture as posting of social events such as organizational outings, volunteering projects and wellness initiatives on Facebook or twitter allows the prospective candidates to assess the organization on moral and ethical grounds.

As mentioned above use of social media can be used as tool in influencing candidates by providing a rosy picture about the organizations cultural values, it is in the best interest of the HR department to ensure that there is efficient monitoring because though social media can be used for propelling the organization in forward direction is can also present itself as a potential minefield disguised as negative comments which if are not handled accordingly can have drastic impact on future talent acquisition.

The acquisition of talent through social media has expanded its horizons of acquiring candidates not only for the HR department but also to those executives whose roles and responsibilities do not involve procurement of new talent. For example, Entrepreneurs and CEO’s by means of media such as Facebook and LinkedIn can directly and quickly identify prospective candidates with reduced expense of cost for hiring and this is particularly advantages for Start up’s because they usually do not have an efficient HR department or also the funds to mobilize an efficient HR team.

Boomerang Rehires

Corporate boomerang/alumni rehire program is a low-cost, high ROI recruiting approach. Often underused, it is a best practice that professional service firms like McKinsey and Booz Allen Hamilton have used for years to leverage a talent population that is familiar with their organizational culture and that has a proven ability to perform [footnoteRef:9]. Boomerang Rehiring is basically the rehiring of those candidates who have previously worked in an organization and have been intentionally targeted and brought back to the same organization.

The reason behind the high ROI of boomerang hires is primarily because of its cost effectiveness and also the employer would invest way lesser time and effort in training and familiarizing the candidate with the organization. Boomerang Hires are exceptionally significant to any organization because of the incredible stories that they bring back and also new viewpoints. By venturing out of the organization there is a very high chance that they could have acquired new abilities and skills or advanced existing ones. They can also play a very crucial role of conveying inside knowledge about competitor’s business strategies and what strength and weaknesses of the competitor can organization use to their advantage. The boomerangs that have been working with organizations that have achieved success pursing a different method can bring important insights as to how the approach of the organization could be different so that it brings about better results.

Technology & Artificial Intelligence

The role of technology is very decisive when it comes to maintaining and magnifying the effect of the various processes involved in hiring. It lays great emphasis on the importance of recruiting talent of high caliber and it only by the efficient usage of technology can the hiring process counter bottlenecks that curb growth of an organization.

The introduction of the world wide web has resulted in a big leap forward for the technology that can be used in the hiring process and moreover, the ability to access to the world wide web to increasingly more and more job seekers has not only enabled online recruiting but it has also set up a platform for being the biggest and most frequently used techniques for talent acquisition. Online talent acquisition has become the face of recruiting and this is mainly due to the introduction of advanced systems for automated hiring which the HR department can mobilize to filter and arrange large number of applications received, inviting prospective candidates for interviews and also provide results for online exams etc. These automated systems encompass the various processes involved in recruiting in such a manner that it does not affect the quality of selection process.

Apart from the recruiting process, the availability of technology goes way further and cover a broader aspect of HR functions such as: (1) Performance evaluation (2) Performance management & measurement (3) Compensation and many more. These functions are all inter – related and can be integrated into the central software which would enable the HR to carry out its functions with better efficiency. This is turn makes us question that due to such high involvement of automated systems are we losing a very key element known as “human touch”? The computer based technology serves as artificial intelligence that minimizes human effort to such a great extent and can very often provide results much faster and also which are consistently accurate and can cut down costs of manpower requirement in the HR department of any organization.

Recruitment Process Outsourcing

The Recruitment Process Outsourcing Association (RPOA) defines RPO as “a form of business process outsourcing where an employer transfers all or part of its recruitment processes to an external provider. Recruitment Process Outsourcing providers can manage the entire recruiting/hiring process, or can manage one or two aspects of the process, essentially serving as an extension of the company’s human resources department”.

The Recruiting outsourcing process is a trend that has been followed by many organizations recently over the last decade and the RPO providers sometimes take control of the complete recruitment process or in most cases only particular parts of the recruitment process that’s the organization requires assistance with. The RPO providers often work with the HR department of an organization to assist with further enhancement of the existing recruitment process. Some of the services provided by RPO’s are Candidate Research, Compliance tracking, Reporting and Audits, Hiring Manager Training, Process Mapping, Technology Consulting etc.

RPO providers usually hold the right to intellectual property for the management and recruitment mechanism that they have employed for any organization they have been called upon by and therefore the obligation to provide desired results lays in the hands of the RPO. Hence the RPO would do more than what is required to ensure that the organization secure applicants that fulfill the prerequisites rather than just recruiting to fill vacant positions.

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