What is Talent Acquisition?

A successful business requires various elements, strategies, and processes. Yet, people are the driving force behind any company. That includes the top tier, management, and new employees.

Human effort translates objectives and values into tangible initiatives that make a lasting impact. Because of that, companies must select the most compatible candidates who are a stellar culture fit and possess the relevant skills, experiences, and knowledge. 

That takes thorough planning and anticipation of future needs and potential issues. Businesses understand that building a stable and productive workforce requires a proactive approach and skilled professionals who think through every element of the recruitment process. 

To achieve that, companies need Talent Acquisition (TA). TA represents long-term processes and efforts to identify skill gaps and recruit highly-qualified candidates who match the company's needs, goals, and mission. 

These professionals often spend months or weeks analyzing the needs of their organization in the future, where to look for suitable job applicants, and how to attract them. The objective is to create the necessary job openings and fill the existing ones. 

As a result, TA strategy addresses long-term business goals and requires recruiters and hiring managers to think about the big picture. Moreover, Talent Acquisition requires a team of professionals to develop and carry out relevant strategies. 

Recruiters, hiring managers and HR professionals often collaborate and combine their efforts to select the best candidate and conduct onboarding. TA also encompasses various elements, such as employer branding, developing a talent pipeline, and future workforce planning.

Why You Need Talent Acquisition? 

Despite being vital for a company’s longevity, the value of TA might not be immediately visible. Because of that, its contribution requires more exposure and acknowledgment.

Here’s why Talent Acquisition is important:

Identifies Quality Candidates

Talent Acquisition aims to reach the most qualified job applicants who fit the job description, company culture, and business values. These professionals implement various strategies and track multiple KPIs to convey the right messages and attract their target audience. 

Because of that, TA doesn’t react to burning issues and fills open positions that appeared recently. Instead, it anticipates what skills the company could need and looks for qualified job seekers.

That way, they develop a substantial talent pool they can turn to when the time comes to fill new positions. As a result, the quality of hire increases, and turnover decreases. 

Helps Companies Stay Competitive

People are the ones who generate revenues and profit with their actions. That’s also what makes them the essential asset of every company. 

High-performing employees who understand the impact of their contribution are responsible for the higher value business produces. Thus, their skills, knowledge, and solutions influence company innovation and growth. 

As a result, businesses unlock a competitive edge, making it easier to keep a leading position in their industry or take the lead. On the other hand, employees who don’t fit in the team and company culture can affect the motivation and productivity of their coworkers, resulting in lower revenues. 

Time & Cost-Effective

The cost of replacing a worker can range from one-half to two times the employee’s annual salary. Hence, a company with around 100 individuals and the average compensation of 50,000 USD could have turnover costs of up to 2.6 million USD per year. 

So replacing employees can be beyond costly. But when done right, TA can help a company save resources. 

Talent Acquisition professionals anticipate job positions, skills, and needs, allowing them to implement efficient strategies timely and avoid rash decisions that could result in bad hires. Thus, they reinforce company culture and foster employee engagement to establish a productive workplace and workers’ satisfaction. 

Forward-looking Approach for a Stable Future

As mentioned above, Talent Acquisition is a forward-looking department. These professionals understand their company, how departments are connected, and what each function needs.

They also continuously assess what each unit will need in the future and how particular skills and experiences can benefit them. Moreover, TA practitioners anticipate risks and threats, ensuring enough time to identify an efficient response. 

As a result, they make it smoother to replace crucial positions and find qualified talents. These professionals won’t only hire an individual because there’s a role they need to fill.

Instead, they’re keen on building future leaders and ensuring a company stays stable and competitive. Because of that, they run thorough screening and go through various steps before hiring someone. 

Who Can Work in Talent Acquisition?

TA professionals typically manage recruitment teams, reinforce employer branding, review job applications, handle talent pool, and onboard employees. Therefore, they have various equally demanding responsibilities that require persistence, a strategic approach, and relevant knowledge. 

People who aim to become Talent Acquisition professionals should consider that working in this field requires at least a bachelor’s degree in human resources, psychology, business, sales, finances, or marketing. 

However, a master’s degree might be necessary for some TA positions. The educational background should help understand people management, efficient communication, and relevant trends. Those who aspire to work in this field should also have experience (usually at least one year) in Talent Acquisition-related roles.

Hence, Talent Acquisition professionals should be analytical thinkers, business-oriented, and good negotiators. They should also be empathetic, multitaskers, and able to plan wisely. Those professionals should also be intuitive and identify how to personalize candidate experience. Decision-making and a problem-solving mindset also play a significant role in the daily life of a TA practitioner, so they should be able to react fast to last-minute changes.

Not everyone working in Talent Acquisition has the same daily routine. Instead, it depends on the company. However, most practitioners will have similar assignments, such as screening, interviewing, and hiring the most compatible candidate for the available position. They often must create recruitment policies for their companies.

Besides, these practitioners usually report to their HR managers. Their job description may also include collaboration with recruitment and headhunting agencies. 

Talent Acquisition professionals typically earn on average 87,684 USD per year as their salary ranges between 57,000 USD and 136,000. The field is expected to grow seven percent by 2028, showing an encouraging job outlook.

Talent Acquisition Positions

Talent Acquisition responsibilities and assignments also depend on the job position. Here are the three most common TA titles.

Talent Acquisition Specialist

Talent Acquisition Specialists (TAS) have various tasks as they manage more than recruitment. Instead, these professionals plan and run talent attraction, interviews, selection, onboarding. They also manage succession planning, reporting, legal compliance, and training development. 

Because of that, TAS works with the HR department and line managers to develop hiring strategies and their ideal candidate profile. However, they can work in Human Resources or independently. 

These professionals typically work in industries that want to fill demanding positions fast and find highly qualified individuals, such as tech, finances, and healthcare. They should understand the employment law, learn to use applicant tracking systems, and feel comfortable with administrative tasks.

Talent Acquisition Manager

Talent Acquisition Managers find, interview, and hire candidates compatible with the ideal job applicant profile. These individuals are also responsible for employee retention, employer branding, company culture, and complete TA strategy. 

Small to medium-sized businesses typically put experienced and versatile recruiters in charge of this position, enabling them to manage all recruitment needs within the company. Large organizations and enterprises establish Talent Acquisition Manager positions responsible for their TA team.

Head of Talent Acquisition

The head of Talent Acquisition is a professional with years of experience and in-depth knowledge of the company's needs, visions, and objectives. They use that expertise to develop thorough TA strategies and build a team with diverse abilities and backgrounds. 

These professionals collaborate with the HR department and business partners to provide the best candidate experience and employee lifecycle. They should understand workforce planning, be stellar decision-makers, and be solution-oriented.

Moreover, Talent Acquisition chief officers should also expand the talent pool and network to access the most talented candidates who fit the company goals. But they should also create reports and inform C-Suite about their results, plans, and improvements. 

What Does Talent Acquisition Process Include?

Identify company needs and skill gaps

The first step Talent Acquisition professionals typically take includes assessing their company’s needs and skill gaps. Their decision-making and strategy development depend on business goals and weaknesses.

TA practitioners must delve into company culture, current job positions, and future trends when considering what could benefit the workplace long-term. Besides understanding what their organization needs now, they should anticipate what they’ll need in the future and address it.

These insights help TA professionals identify the needed job openings and develop the ideal candidate profile. That also guides their priorities and ensures they target the right audience and skill set. 

Moreover, TA decides the selection process and criteria they’ll use to identify the most suitable job applicant. As a result, they ensure every individual uses their utmost potential and fits their position. 

Create a job description and source talents

After the leadership approves the job requisition, Talent Acquisition professionals must write an engaging job description that outlines responsibilities, necessary skills, experiences, and benefits. They also assess the best platforms to release the job ad and reach enough qualified candidates.

Because of that, Talent Acquisition teams must research and discover what websites and networks their target audience frequents. They ensure that the job description aligns with the company goals and branding to reach compatible job applicants. 

Identify qualified job applicants

After receiving resumes and portfolios, these professionals evaluate candidates through HR software that helps them identify candidates who meet most job requirements. They must be thorough and shortlist the most suitable job applicants.

Conduct interviews

Talent Acquisition professionals must interview the shortlisted candidates and ask the most relevant questions. Because of that, they typically prepare weeks before and decide how to recognize the job applicant with the most potential. 

Select the most suitable candidate

Before they decide, Talent Acquisition teams must also run background checks, contact references, and use recruitment tools and assessments to weed out unqualified candidates. They use the previously developed system for job applicant ranking to choose the most compatible person and send a job offer. 

Onboard new employees

Most Talent Acquisition practitioners are also responsible for employee onboarding. After hiring the best candidate, they offer job-related training, mentoring, and a welcome kit to ensure the new workers feel ready for work and comfortable in the team. 

Continuously manage the talent pool

Among the responsibilities of Talent Acquisition professionals is also to maintain their shortlisted candidates in the talent pool and continuously attract new ones. That way, they have qualified potential job applicants at their disposal whenever there’s an available vacancy. 

Discover more information about the Talent Acquisition processes in our full guide. 

How to Develop an Efficient Talent Acquisition Strategy?

Define Your Ideal Job Applicant 

Identifying the must-have skills is among the most significant parts of the recruitment process. That’s the first point of an efficient Talent Acquisition strategy, as it helps the team understand who their ideal candidate should be. 

Besides, this should also help them identify whether they should adjust their marketing materials and convey the right message.

Analyze Your Current Recruitment Process 

Talent Acquisition professionals should assess current HR processes because this function must align with the complete company strategy. That way, they can leverage the data new staff provides to, for example, discover what made them consider the company as a potential employer. 

Moreover, TA professionals should analyze top performers’ expectations after joining the team and use that information to better position and write their job ads. 

Align Values and Objectives with HR 

The HR department should understand the Talent Acquisition strategy and align its values and goals. Human Resources should also communicate the importance of TA to every stakeholder, including potential job applicants.

In general, Talent Acquisition should collaborate closely with other departments, as that helps them maximize their efforts and find the most qualified candidate.

Top 5 Talent Acquisition Stats You Should Know to Improve Your Processes in 2022

The stats below will help you understand what will affect Talent Acquisition in 2022 and what your priorities should be.

1. Nearly a quarter of employees plan to quit their jobs in 2022.

The Great Resignation might be far from over, warning that Talent Acquisition professionals must reinforce retention strategies. That may also be among the most significant challenges TA could have this year.

2. Seventy-five percent of candidates research a company before applying for a job.

Employer branding and reputation are of paramount importance to attract high-quality job applicants. Talent Acquisition professionals should provide stellar candidate experience, as negative reviews might lead to insufficiently qualified job applications. 

3. Eighty-one percent of job applicants say the principal thing that would improve the candidate experience is more regular updates. 

Sadly, many recruiters ghost candidates or rarely update them about their job application status. That often causes job applicants to lose interest and look elsewhere. 

4. Seventy-nine percent of job seekers will consider a company’s mission before sending their job applications. 

Talent Acquisition professionals should communicate their company’s values, objectives, and vision efficiently. That should also manifest in employer branding and job descriptions because job seekers should find it easy to understand what matters to their potential employer.

5. Thirty-five percent of employees globally have used employee learning programs to help them find opportunities in their companies, and 91 percent of managers believe this can result in closing skills gaps on their teams.

Internal mobility is just as significant as finding new workers. Those who already work for an organization know its needs, culture, and goals, which is a great advantage.

The Future of Talent Acquisition

In the post-pandemic future, Talent Acquisition professionals can expect that:

• AI will play a more significant role in TA in the years to come – Artificial Intelligence will have an increasing influence on Talent Acquisition in the future, enabling recruiters to accelerate processes with AI-powered tools, improving both candidate sourcing and screening. Examples of this include automated sourcing and assessing where the AI will automatically outreach to the candidates it sees as a good fit for a given job.
• Diversity will expand and include cognitive diversity – Inclusion and diversity are finally getting the attention they deserve, which will continue. However, different backgrounds and demographic characteristics might not be the only variety Talent Acquisition professionals will include in their strategies. Instead, they will also consider different thought patterns, mental perspectives, and problem-solving approaches when choosing candidates.
• TA professionals could start using VR to redefine candidate experience – Many company leaders find candidate experience one of their most significant investments. Talent Acquisition professionals will likely use Virtual Reality tech to make the process more engaging and help job applicants understand the company culture first-hand, for example by showcasing the work environment. Other applications could include virtual simulations allowing employers that test candidates in different areas.
• Safety, security, and resilience will become more important - Workplace safety and business resilience will become increasingly important in the post-pandemic era. Workers will also require transparency and knowing that their positions are safe. On the other hand, companies must adopt an agile approach and ensure they can react fast to unexpected changes. These include adopting technologies that enable employees to seamlessly work from home if needed or Covid prevention measures such as Covid testing when working in the workplace.
• Collaborations with gig workers and freelancers could become a common practice – Following the growth of the on-demand economy, many business leaders find it more cost-effective to hire gig workers or freelancers since these talents typically require no onboarding and can take on projects quickly. This will give companies the flexibility to take on new projects quickly without the need for expensive workforce expansion plans.

Talent Acquisition encompasses various demanding and thorough processes. HR technology makes it easier to monitor outcomes and understand whether a strategy requires tweaks. 

Manatal's recruitment software enables TA professionals to reach their target audience easily, compile and analyze candidate profiles, and make data-driven decisions. The software also supports smooth and uninterrupted communication with stakeholders and other departments.

Discover how Manatal enables you to streamline your Talent Acquisition and make the process more efficient. Start your 14-day Free Trial today and make the most of your recruitment.