These are commonly used interchangeably. So, What is the difference between recruitment and talent acquisition?

Many people think that recruitment and talent acquisition are more or less synonymous with each other. But the reality is that they are highly different. Filling up of the vacant places in a company is called 'Recruitment', whereas 'Talent Acquisition' is strategically finding the right and talented people who will prove to be the future leaders, specialists and executives of the company. Recruited ones are a liability for the company whereas the talented ones prove to be an asset for the company. Talent acquisition tends to focus on long-term human resources planning and finding appropriate candidates. 
Talent acquisition is an ongoing cycle of process related to attracting, sourcing, recruiting and hiring employees within an organization. Recruitment is a linear process, where employers source candidates for the existing vacancies currently available.

If we look at the current scenario, there are just a few companies that actually acquire the talented ones; most of the others just focus on recruiting so as to make up for the statistics. There are various companies labeled as “mass recruiters” like Infosys, Wipro, who do not focus on the skills or the talent of the people, instead at a bare minimum salary they recruit plenty of people just to show an increase in the number of their employees.  
There are various terms that differentiate between Recruitment and Talent acquisition: 
  • Strategic planning in talent acquistion
    Planning and Strategy: Unlike recruitment, talent acquisition requires a deeper insight into the nature of your business and a thorough understanding of future workplace needs. It’s a forward-thinkingapproach, looking through a wider lens that takes into consideration the local and global labor markets.  Recruitment requires just a superficial strategy whereas talent acquisition requires a detailed planning. Study of proper documentation of previous years is very important aspect of planning and formulating strategies. 
  • Company Branding: Your Company might be very capable and producing high profits throughout, but if it isn’t a brand that attracts a lot of employees, then its future is in danger. Ensuring that your company’s brand is clear and attractive is the main element in talent acquisition. This includes fostering a proper and positive work culture, establishing a good reputation of the company on the basis of the quality of products and services, maintaining the pay scale based on the industry standards, etc. A solid brand attracts top candidates while giving them a look inside at what it’s like to work for your company.
  • Talent managementTalent Management: Talent Acquisition requires proper research and innovation. It is important to seek the best colleges or the best areas where one can find the top talents of the nation. Once you’ve established contact with potential candidates, you have to maintain and build those relationships. All of this is done with the understanding that most of these candidates will not fill positions right away but rather down the line. 
  • Segmentation of talent according to departmentsSegmentation: It is important to segregate the various departments in a company and acquire and place the people according to their choice. A marketing oriented person, if recruited to a technical post will prove to be a disaster for the company. Similarly a technician cannot set forth the correct strategies to improve the sales of the company. Identifying the correct talent is important to utilize them fully  and to not waste their skills.
  • Analytics: It is important to keep a track all the employment records and the ones which proved to be potentially strong for the company. By collecting and analyzing pertinent information, one can continuously improve the recruiting process and make better hiring decisions, ultimately improving the quality and quantity of hiring. The metrics and analytics of the employment records is an important role played by the Human Resource Department.
It is important to know that Recruiting is a subset of Talent Acquisition which includes a series of steps like selection of the correct CV, screening, interviews, assessments, etc. There is no talent acquisition without recruitment but recruitment is possible without talent acquisition. To meet the competitive scenario, most of the companies just focus on recruiting the students which contribute to the overall development of them too. All of the people are gifted with talents but they are bound to work under surveillance which becomes a hurdle in their progress. 
But in some highly competitive niche markets, it is not possible to acquire talent instead recruitment is the key. Medical, Technology, finance, legal matters are subject to high competition, hence people cannot waste time and money to acquire the right talent instead they experiment and just recruit. The best ones are retained and liabilities are detained.

Hence the company’s industry background as well as the level of competition in the field in which the company works, are the two important factors on which a simple talent acquisition strategy is made. Instead of a linear process, talent acquisition is a cyclical approach that’s geared towards building relationships, anticipating future hiring needs, and creating a sustainable pool of candidates. It is a more strategic approach that develops and nurtures a talent pipeline with a long-term view. The companies should seek the right talent and encourage them so as to contribute to the well being of the nation as well.

Therefore, Instead of a linear process, Talent Acquisition is a cyclical approach that’s geared towards building relationships, anticipating future hiring needs, and creating a sustainable pool of candidates. It is a more strategic approach that develops and nurtures a talent pipeline with a long-term view.
Posted in : Talent Acquisition 
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