The words ‘Human Resource Management’, ‘Recruitment’, ‘Talent Acquisition’, and ‘Talent Management’ are often used interchangeably. In reality, HR Management is an all-encompassing exercise that recruits, manages, and retains talent. Talent acquisition in HR goes beyond just recruitment.
So, technically, HR management includes (but is not limited to)
- Talent Acquisition and Recruiting
- Managing compensation, benefits, incentives, rewards, etc.
- Performance Management
What the HR focuses on, largely depends on the size and end goals of the business. But it is mostly rooted in talent acquisition and management, while the other responsibilities vary from one enterprise to another.
So, what is the exact role of HR in talent acquisition and management?
Talent Acquisition in HR
For starters, it is important to understand the major difference between recruitment and talent acquisition in HR. While recruitment is the basic exercise of hiring employees to fill relevant roles within an organization, talent acquisition is seeking the right talent to fill specific roles, targeted towards strategic business objectives. This means that HR needs to look at talent acquisition as a long-term project and not as a routine task. It is important to remember that acquiring the best talent is not only to meet the organizational needs but also of the candidates. That is when the exercise of talent acquisition becomes successful.
Hence, when HR wants to acquire the best talent, these are the few steps to implement (that define what talent acquisition in HR entails).
- Assess and understand the talent requirement within the organization.
- Understand the end business objective.
- Analyze the talent gap, i.e. requirement vs. availability.
- Devise a recruitment strategy using minimal resources (manpower, cost, time, etc.).
- A skilled research team to track the needs of the organization and of the candidate.
- Put the plan in execution to reduce the talent gap.
- Create a talent management strategy.
It is also important for HR to create a positive image for the organization. AI-enabled assessment tools can help organizations onboard great talent with speed and precision. And create a great hiring experience.
Talent Management in HR
Even if you find the best of the best talent in the market that fits perfectly with the organizational objectives, the responsibility of the HR is not over. When you have highly skilled and competent employees, you need to retain and nurture the talent and help your business grow.
Talent management involves a range of smaller exercises for HR done over an extended period.
- Assess and review employees regularly.
- Tally the talent acquisition goals with the employee’s goals and see if they align with the larger business goals.
- Create and implement a performance management plan.
- Once you have a pool of high-end talent, develop techniques to nurture and guide them.
- Devise a plan for the career management of the talent.
- Focus on building and shaping the leadership skills through behavioral interviews, team-building and decision-making exercises, problem-solving techniques, response to change management, and cultural fit.
- Constantly work towards training and development of hired talent to boost skills.
Thus, it helps the HR to measure the success of their talent acquisition endeavors and meet their recruitment goals. By acquiring the right talent and then managing it effectively, HRs can create an exclusive pool of the best talent, which will go a long way in achieving organizational growth and building a great workforce.