Recruitment is one tool, but it is no longer the only function in hiring strategy
By Kevin MacIntyre, SP Content Lab
The terms recruitment and talent acquisition are used interchangeably.
Of course, the end game is the same – securing the best talent for an organization – but these two functions are different. The recruitment function falls under the umbrella of talent acquisition.
Let’s take a deeper look at how these functions are deployed to help an organization source the best talent solutions.
Recruitment îs the action
Recruitment is the act of filling a talent gap. Companies sometimes use job boards or recruitment agencies to source candidates for roles. Recruitment tends to happen when the need is immediate and sometimes urgent, in unforeseen circumstances.
The recruitment cycle is getting longer as companies face talent shortages and demand for new expertise.
Businesses now require new forms of specialized talent to fulfill emerging demands in areas such as Environmental, Social and Governance (ESG), Diversity, Equity and Inclusion (DEI) and cybersecurity.
The time required to source senior or niche talent can be 40 days to six months, and sometimes more.
Talent acquisition is strategic
Recruitment is one tool in the talent acquisition strategy but talent acquisition is an ongoing process of planning and executing talent needs. The organization that invests in talent acquisition understands the dynamic nature of the talent market and prepares for it in advance.
In-house talent may not be immediately available in areas like ESG or DEI, and reskilling takes time. If the company is part of an industry with worker high-turnover – or churn – planning for talent acquisition becomes more important.
Forward-thinking HR leadership plans for this before the need is imminent. They identify upcoming challenges in their organization and anticipate changes before recruitment happens.
One talent acquisition tool is sourcing on-demand talent who can step in to fill roles on short-term, part-time or project positions. This gives an organization breathing room while it searches for a permanent candidate.
Cultivating a supply and pool of trusted contract talent creates peace of mind in the event of a sudden resignation or a crisis requiring highly specialized knowledge.
This on-demand talent can be outsourced to fill organizational needs including everything from senior leadership to marketing, IT, HR, financial and project management.
Hiring interim talent can smooth the recruitment process and fill gaps which occur during the recruitment process.
Creating relationships with talent acquisition organizations can provide on-demand talent solutions on short notice.
Passive talent pool
Increasingly, talent acquisition strategies are developing “passive talent pools” comprising experienced workers from outside the organization who are ready to hit the ground running with minimal onboarding and training.
These external talent resources take the pressure off HR leaders and managers as they pursue permanent solutions. In some cases, the external talent pool of interim contractors becomes a percent solution for rolling projects.
Talent acquisition has become a central priority
Rapid changes in the economy, the exodus of a generation of full-time workers and new technologies that enable remote working have changed the game for talent acquisition.
Recruitment continues to be a critical function, but adopting an overall strategy brings talent sustainability to an organization.
SeasonedPros.ca is an on-demand business talent source. Clients with an immediate need for experienced talent trust us to source professionals for project, interim and part-time roles. Each professional in our national database has 20 + years of business experience. We provide our clients two-four vetted professionals in 10 business days or less.