Identifying Steps of Talent Acquisition Process

 

(Source - Tiwari,2023)

The Talent Acquisition process begins when a business unit decides to hire employees to achieve its objectives. The unit develops a job profile that outlines the role, job category, required skills, job location, and a brief description of the responsibilities involved. It may also include the total work experience needed, along with specific experience level for each skill. Job openings are promoted across various platforms, such as online job portals and newspaper ads, etc. Interested candidates apply by submitting their profiles via a designated website. Upon receiving applications from prospective candidates, they undergo thorough review by a team of dedicated screeners. The top candidates who pass the initial screening process to further assessments, such as interviews, written tests, or group discussions. Feedback from these evaluations is then used to make the final hiring decision. (Singh, et al., 2010)

Here are the main 6 steps of Talent Acquisition (Tiwari,2023),

1. Job Analysis and workforce planning

2. Talent Sourcing

3. Screening

4. Interviewing

5. Background check & Job offer

6. Onboarding

Let's discuss each steps,

1. Job Analysis and workforce planning

Job analysis is a crucial preliminary activity for effective human resource management. However, many of the fundamental assumptions underlying its traditional uses are increasingly being challenged in today's dynamic business world. Traditional job analysis focuses on gathering information related to work for positions as they currently exist or have existed in the past (Palmer & Valet, 2001). Workforce planning determines the timing and number of employees to be hired or let go, as well as the scheduling of their work hours. It involves a blend of staffing and scheduling decisions.

2. Talent Sourcing

Recruiters purchase licenses for job sites, granting them access to candidate databases. They utilize these platforms to search for candidates who align with job requirements, whether they are actively looking for work or passively open to opportunities. Furthermore, recruiters use these sites to build and sustain a talent pipeline for both current and future hiring needs.  (Tiwari, 2023)

3. Screening Candidates

Candidate screening involves assessing job applicants and reviewing their skills and qualifications to identify those who best match the job requirements. Candidate screening process is essential for effective hiring. It helps verify that the information provided by applicants is accurate and confirms that they meet all the necessary criteria. (Semetaite, 2024)

4. Interviewing

An interview is a question-and-answer session where one person asks questions, and the other responds. It can be a one-on-one, two way conversation or involve multiple interviewers and participants. Interviews play a crucial role in the recruitment process, helping assess candidates on several key factors, this is a vital consideration, as it ensures the candidate aligns with the organization's work culture, whether the candidate has the required skills for the job, and whether the candidate's skills and experience match the details outlined in their resume. (Sharma,2024)

5. Background Check and Job offer

Background checks involves verifying the information provided by candidates during interviews, such as their work experience, skills, strengths, weaknesses, and overall attitude. Many companies conduct reference checks that are not directly related to the candidate before their official start date. However, this process can be challenging, as former employers may be reluctant to share candid feedback, particularly when it comes to any negative aspects.

After selecting can directly offering the job to the candidates with an agreement of terms and conditions of the job including job role as well.

6.Onboarding

Practical onboarding process including followings,

New hires typically go through a brief half-day orientation covering the company's history, compliance policies, and employee benefits. They receive basic instructions on their job, meet a few colleagues and leaders, and are informed about available training resources. Additionally, they are granted security access and provided with essential tools like phones, computers, or other equipment. However, after this initial process, companies often fail to provide meaningful motivation, clear challenges, direction, or a strong sense of commitment to their new employees. (Stein & Christiansen, 2010)

A strong Talent Acquisition process enables your organization to attract and engage individuals with the skills necessary to achieve long-term business goals. 

References

Semetaite, J., 2024. toggl.com. [Online] 
Available at: https://toggl.com/blog/screening-candidates#:~:text=Candidate%20screening%20is%20the%20process,that%20meet%20your%20job%20requirements.&text=There%20are%20numerous%20ways%20to,and%20available%20time%20and%20resources.
[Accessed 9 November 2024].
Sharma, J., 2024. www.shiksha.com. [Online] 
Available at: https://www.shiksha.com/online-courses/articles/different-types-of-interview/#what
[Accessed 9 November 2024].
Singh, A. et al., 2010. PROSPECT: A system for screening candidates for recruitmnets. pp. 659 - 668.
Stein, M. . A. & Christiansen, L., 2010. Succesful Onboarding. In: New York: McGraw-Hill.
Tiwari, A., 2023. xobin.com. [Online] 
Available at: https://xobin.com/blog/talent-acquisition-the-complete-guide/

The Difference Between Talent Acquisition & Recruitment

Talent Acquisition

Talent Acquisition is a strategic approach to identifying, attracting and securing skilled individuals to meet an organization's present and future needs. Unlike traditional recruitment, it takes a holistic view that aligns with the organization's goals, culture and long-term vision. Talent Acquisition emphasizes building a strong talent pipeline and delivering an excellent candidate experience. (Vikas, Mathur, Adavi, Shaik, & Seshachalam, 2024)

Recruitment

Recruitment is the process of finding, attracting, interviewing, selecting, hiring and onboarding employees. In essence, it encompasses every step from recognizing the need for a new hire to bringing the right person on board.

Whether the objective of recruitments and Talent Acquisition are same (hiring a candidate),  there are few differences,

(Source - Siocon, 2024)

Recruitments are short term; it is about filling an immediate vacancy. Talent Acquisition (TA) is a continuous strategy that forecasts future hiring needs aligning with the future business objectives. Recruitments are done for mostly entry-level hiring and TA most critical roles. Recruitments can be implemented instantly, recruiters consistently hire for roles in constant demand, allowing recruitment strategies to be put into action right away. TA requires additional time and strategic planning. TA specialists analyze various roles and departments within the company, along with the skills and experience essential for success in each area. (Siocon, 2024)

Following video is explaining the difference between Recruitment and Talent Acquisition using a real case study.

Figure 2 : The 5 differences between TA & recruitment (Source - AIHR,2023)

What is better?

TA leveraging modern technology like Applicant Tracking Systems (ATS), artificial intelligence, and automation enhances the recruitment process by boosting efficiency, reducing time-to-fill, and enriching the candidate experience. Integrating diversity and inclusion into TA is essential for building a well-rounded and innovative team, with strategies focused on attracting candidates from diverse backgrounds to foster a more inclusive workplace environment. TA is an ongoing process that requires continuous assessment and refinement. Regularly reviewing and updating recruitment strategies based on feedback, industry trends, and organizational shifts ensures agility and effectiveness. Successful talent acquisition relies on strong collaboration between HR professionals and hiring managers, aligning on job requirements, candidate profiles, and overall hiring strategy to enhance outcomes. Beyond hiring, TA also encompasses onboarding and integrating new employees. Facilitating a smooth transition for new hires boosts retention and employee satisfaction.

TA itself is a proactive, strategic approach to recruiting the most qualified candidates. Building a workforce aligned with the organization's goals and values requires a blend of planning, employer branding, sourcing, technology, and continuous improvement. By integrating these best practices, organizations can better identify, attract, and secure top talent that supports their business objectives and enhances overall performance.

Final Thought

Recruitment and TA are elements of the larger hiring process involving interacting with candidates at every stage of hiring and both utilize job descriptions and advertisements including candidate evaluations and selection.

Finally, as an organization, you likely have a wide range of hiring needs across the company and within specific departments, so a one-size fits-all approach is not ideal. Both strategies can be applied purposefully in various situations. If the organization has high turn over, HR can revamp hiring by developing a stronger talent pool through strategic TA. However, if turnover is low and hire a few employees each year, can remain on recruitment strategies. In some industries where top talent is limited, adopting a long-term TA strategy can position the company as a top employer. If the business' primary goals focus on meeting immediate needs rather than long-term growth, prioritizing recruitment may be the best approach.

Recruitment is more tactical and Talent Acquisition is more strategic!!

What do you think? Comment below👇

References

Siocon, G. (2024, November 7). Aihr. Retrieved from www.aihr.com: https://www.aihr.com/blog/talent-acquisition-vs-recruitment/

AIHR - Academy to Innovate HR. The 5 differences between Talent Acquisition and Recruitment [2023]

Available at: https://youtu.be/QpbHMX6yJNk?si=wPRms3yRVwv9HS-Q

[Accessed 07 November 2024]

Vikas, S., Mathur, A., Adavi, S., Shaik, J. M., & Seshachalam, A. (2024). Recruitment and theRole ofHr inTalent Acquisition: Optimal Methods forHiring Top Talent. Journal of Informatics Education and Research.

Last Minute Drop outs

What is this Last Minute Drop Outs Means?

This is a significant challenge facing in Talent Acquisition. Attracting well-qualified candidates and selecting the best fit for a role can be difficult. Last-minute drop outs present an added hurdle, with some candidates declining offers on or just before their scheduled date of joining. Especially if they do so without communication. Instances where candidates fail to respond to emails or calls, particularly on the expected start date, add further difficulty to the Talent Acquisition process and disrupt planning and scheduling efforts. 

Figure 1 - The biggest challenge for Talent Acquisition Team

What are the reasons for offer drops 

According to Abraham Maslow's hierarchy of needs theory, candidates seek a sense of belonging, opportunities for creativity, and sometimes even a sense of purpose in their work.

Abraham Maslow's Hierarchy of Needs Theory

Maslow (1943, 1954) proposed that human needs are organized in a hierarchy, beginning with basic psychological needs essential for survival and progressing upward to self-actualization needs, which focus on creativity and intellectual fulfillment.

Figure 2 - Maslow's hierarchy of needs (source - Jaganathan,2023)

In the Talent Acquisition process, it's essential to consider the diverse needs of candidates. Some individuals are focused primarily on meeting basic needs, such as salary, through the open position. Others may prioritize psychological needs, and those candidates can be drawn in by promoting company brand, providing job security, and showcasing company culture. For candidates seeking self-actualization, emphasizing work-life balance can be a powerful attraction strategy.

When offering, the Talent Acquisition team should strive to understand the candidate's specific needs and highlight the aspects of the role that align with those priorities. For example, If a candidate values opportunities for self- actualization, simply offering a high salary may not be sufficient; they may prefer a company that emphasizes work-life balance and personal growth. Tailoring the offer to reflect these factors can improve acceptance rates and reduce the risk of candidates last minutes drop-outs. Candidates rejecting offers due to better offers can prevent by understanding the actual need of the candidate.

Apart from the above there are few more reasons for candidates last minute drop outs,

Candidate negative experience during the interview process can also contribute to last-minute offer rejections. Interviewers play a key role in shaping candidates' perceptions, as they embody the company's culture and brand. Their communication style, professionalism, and conduct significantly influence candidates' first impressions of the organization. Additionally, providing a clear and comprehensive explanation of the job role is essential. Candidates may decline offers if they feel uncertain about role expectations.  Ensuring a positive and transparent interview experience can help reduce offer drops.

Lack of communication is also a reason for these drop-outs. As many organizations do not contact their candidates after the interview until their date of joining. Lesser follow ups and also delay in the decision making is a reason because many Gen Z candidates expecting continuous engagement and follow ups as it shows the company is really interested to having the candidate for the interviewed position. 

Conclusion

Recruiters aim to build a talent pool that is both skilled and dedicated, while candidates seek the best from their prospective employers. Understanding candidates desires, needs and motivations enables recruiters to present a compelling Employee Value Proposition (EVP). Similarly, a smooth and transparent recruitment process helps maintain candidates' engagement with the organization, keeping them focused and positive about the opportunity. 

References

Dr.HR., 2021. The biggest challenge for Talent Acquisition team and what can you do about it?

Available at: https://youtu.be/qiajtzCSiLI?si=e0xIWdNO41ZAyhoG

[Accessed 03 November 2024]

Jaganathan, T., 2023. uplyrn.com. [Online] 

Available at: https://uplyrn.com/post-details/hierarchy-of-needs

[Accessed 3 November 2024].

Use of social media for Talent Acquisition

 

Source - (Stanley, 2020)

Talent Acquisition is a HR function which is modernizing with the changes of the business world. With the evolve of social media, Talent Acquisition specialists has started to use social media to acquire right talent at the right time.

A 2014 independent study by Digital insights survey shows that 94% of recruiters currently use or intend to use social media in their hiring processes. Additionally, 78% of recruiters have successfully made hires through social media. The adoption of social media for recruitment has grown significantly, from 78% of companies in 2008 to 89% in 2011 and reaching 94% by 2013.

Figure 1 - Social Media Recruiting | Social Media Recruiting Strategies, Source - (Rchilli, 2021)

Benefits of using Social media (Singh & Sharma , 2014)

• Increase in the reach of candidates
• Finding highly skilled candidates
• Increased return on investment
• Become the candidate's preferred employer 

According to (Tirrel & Wübbelt, 2022), the biggest advantages of using social media for Talent Acquisition are enhanced visibility, heightened awareness, and greater accessibility and connection. Social media helps close the gap between applicants and the company, making it part of a global network. 

There are lot of advantages as well as disadvantages of using social media.

Disadvantages of using Social media 

• Promoted posts can be costly
• Certain social media platforms may not reach intended audiences
• Creativity should be there to differentiate from competing companies.
• Judgements based on photos
• Candidate's profile may not accurately reflect their true fit or potential employees.

This YouTube video discuss the pros. and cons. of Social Media Recruitments,

Figure 2- Social Media Recruiting: Pros & Cons, (Source - Jobiak AI,2020)

Gen Z and Social Media

HR managers classify Gen Z as being influenced by social media, as well as by friends and peers. Gen Z mainly uses Instagram, WhatsApp, YouTube and Snapchat for personal use, with Facebook being rarely utilized. These platforms allow Gen Z to express their creativity, connect with others who share their interests, and keep up with trends and pop culture. The main point is that Gen Z has a distinct approach to social media, favoring newer platforms that align better with their preferences over older ones. Unlike Boomers and Millennials, Gen Z primarily uses social media for entertainment and communication, turning to specific platforms to fulfill these purposes. (Roman,2024)

Gen Z represents an expanding workforce, and Oxford Economics predicts they will make up 30% of all employees by 2030. Many are eager, committed, and with the right training, have the potential to drive the future of the company. As Gen Z people are the future leaders of companies, attracting talented Gen z employees are like a future investment for the company.  (Levitt, 2024)

Conclusion

Social media enables companies to build a close connection with potential applicants and showcase the qualities that make them an attractive employer. As Talent Acquisition specialists, it's essential to thoroughly understand both the advantages and challenges of social media hiring. In today's tech-driven world, social media is vital tool, especially as smartphones are a central part of daily life for many-particularly Gen Z, the future leaders in the workforce. Compared to Millennials and Boomers, Gen Z is the most active on social media, making it a crucial channel for reaching them. The business landscape today faces the challenge of attracting Gen Z talents, and social media is one of the most effective strategies for identifying the best-fit candidates from this generation.

References

Jobiak AI., 2020. Social Media Recruiting: Pros & Cons

Available at: https://youtu.be/iDzfI9JAxBI?si=xzhQnBxvfhOtAE4W

[Accessed 03 November 2024]

Rchilli., 2021. Social Media Recruiting | Social Media Recruiting Strategies

Available at: https://youtu.be/QlebtLRhqeQ?si=S_unZVrfkRvM2CTk

[Accessed 03 November 2024]

Levitt, N., 2024. ink-co.com. [Online] 

Available at: https://ink-co.com/insights/social-gen-z-hiring/

[Accessed 3 November 2024].

Roman, D., 2024. wearebrain.com. [Online] 

Available at: https://wearebrain.com/blog/how-gen-z-is-using-social-media/

[Accessed 3 November 2024].

Singh, K. & Sharma , S., 2014. Effective use of social media for talent acquisition and recruitment. Int. J. Intercultural Information Management, Volume Vol. 4, pp. pp 228-237.

Stanley, N., 2020. MyHR.com. [Online] 

Available at: https://blog.myhr.works/social-media-recruitment

[Accessed 3 November 2024].

Tirrel, H. & Wübbelt, A., 2022. Attracting Members of Generation Z to Companies via social media recruiting in Germany. Human Technology, Volume 18(3)(ISSN: 1795-6889), p. 213–233.

Challenges in Talent Acquisition

 

Source: (Bassette, 2022)

As organizations reassess their recruitment strategies to better align talent acquisition with business goals, several challenges arise. These challenges highlight the need to equip recruiters with improved data and tools to enhance their flexibility and effectiveness. Finding the right candidates in the current job market remains a significant difficulty for employers. Over 90% of business leaders acknowledge that achieving organizational goals is impossible without the right talent. They also recognized that attracting and retaining talent would be the most significant challenge in 2022.

1. Competition for Top Talent & skills shortage

The severe shortage of skilled workers has made the current labor market highly competitive. Further intensified by increasing skill mismatches. As industries evolve rapidly, recruiters face the difficult task of finding candidates who not only have the necessary skills but are also prepared to adapt and learn new ones. Also, talented candidates often face confusion when receiving multiple job offers, as it’s difficult to determine the best option before joining a company. Meanwhile, employers must be prepared for situations where an ideal candidate decides to leave for another job opportunity. Forty percent of employers stated that competition for talent from more well-known companies is one of their biggest recruitment challenges, while another 40% reported competition from companies offering higher pay or better benefits.

2. Recruiter Bias

To achieve effective Talent acquisition, it’s crucial that all candidates are given an equal opportunity to secure the job. However, inherent human biases can complicate the pursuit of purely objective recruitment, posing significant challenges in the hiring process. Such biases can detract from the candidate experience, restrict access to a diverse talent pool, and harm employer brand. And also, unintentional discriminatory practices can lead to legal issues.

Figure 1 :- Unconscious Biases in Recruitment (The Training Minute, 2024)

3. Poor Employer Branding

For today’s socially conscious professionals, working for a reputable employer that values and supports its employees is just as receiving a high salary.  Leading companies are going to great lengths to attract the best talent, making intense competition one of the most significant recruitment challenges today. 

4. Disconnected Interview Process & dragging the hiring time

To attract top candidates, Coordinating interviews schedules that align with both recruiters’ and candidates’ availabilities is tough, leading to mistakes, frequent rescheduling, and potentially causing candidates to lose interest. And providing feedback to every candidate becomes quite difficult. These can raise concerns for candidates and damage brand image. Lengthy screening stages can slow down hiring. Therefore, screening should be Adjusted based on available time, resources, and the overall effectiveness of the recruitment process.

5. Cost

Talent acquisition requires significant investment, from marketing your employer brand to outbound and inbound recruiting expenses. Many companies find it challenging to create a recruitment funnel that stays within budget while effectively attracting top talent. Research shows that most candidates seek more than just strong infrastructure and good leadership when considering a new job. According to a Microsoft study, 73% of employees say they need a compelling reason beyond the company’s expectations to accept a position. This alignment, however, is only feasible when the candidates’ salary expectations fall within the company’s cost per hire parameters.

How to overcome the challenges

Companies are increasingly recognizing that adopting more innovative approaches to attract, source, and recruit high-potential candidates can give them a significant competitive edge (Sahay,2014). In response to this challenge, many companies are concentrating on enhancing their employer brand and overall appeal. In practice, this involves maintaining a strong presence in the job market and promoting an attractive employer image to both current and potential employees (Chhabra and Sharma, 2014). 

Figure 2- Employer branding and Talent Acquisition (hrmasia, 2016)

This video will explain how a good employer brand can bring best talents to the company.

To attract top talent, should streamline the hiring process by reducing unnecessary steps and moving quickly on promising candidates. Rather than seeking a perfect match for the role, focus on a clear plan that outlines essential skills, while allowing flexibility on non- critical qualifications. Creating a plan that outlines essential skills while allowing flexibility foe non-essential qualifications. Assessments should be based on the time and resources available, as well as the overall effectiveness of the recruitment process. The job market is evolving, and so are attitudes toward work and organizations overall. While candidates are open to upskilling, companies must also adapt to keep pace with the talent. By fostering the right approach and leveraging technical capabilities, businesses can stay ahead of competitors and draw top talent to their teams.

What are the challenges that you face in talent acquisition in your company?

References

Bassett, M., 2022. www.mbassett.com. [Online] 

Available at: https://www.mbassett.com/blog/basics-of-talent-acquisition/

[Accessed 26 October 2024].

Chabra, N. (2014) Employer branding: strategy for improving employer attractiveness. International Journal of Organizational Analysis 22:1, 48-60.

hrmasia, 2016. [Online] 

Available at: https://youtu.be/bFKG6Dloarc?si=xWUWqSZ6b5FVRNty

[Accessed 26 October 2024].

Hyreo, 2023. hyreo.com. [Online] 

Available at: https://hyreo.com/top-challenges-of-talent-acquisition/

[Accessed 26 October 2024].

Minute, T. T., 2024. [Online] 

Available at: https://youtu.be/jdY27nLQqKE?si=w17lsd_i6T2ckxWt

[Accessed 26 October 2024].

Sahay, P. (2014) Design thinking in talent acquisition: a practitioner’s perspective. Strategic HR Review 13:4, 170-180.

Artificial Intelligence in Talent Acquisition

 

Source:  (Michelotti, 2023)

In this era, Artificial Intelligence (AI) has permeated most of the fields, transforming how we operate and make decisions. As the demand for top talent remains competitive, business leaders are increasingly turning to AI to develop and enhance their recruitment strategies.

                The Harvey Nash Human Resources 2017 survey found that 15 percent of HR leaders from 40 countries reported that artificial intelligence and automation are already influencing their workplace strategies. Additionally, 40 percent anticipated that these technologies would impact their plans within the next two to five years. Mercer’s Global Talent Trends study from the same year indicated that organizations embracing a “digital” or “mostly digital” approach are better equipped to adapt to change and succeed in a rapidly evolving digital landscape. Moreover, a 2017 CareerBuilder study revealed that 60% of job seekers have abandoned an application due to its length or complexity, while 80% stated they would not reapply to companies that failed to communicate their application status. These findings underscore the urgent need for organizations to leverage technology to eliminate systemic delays and enhance the hiring experience. (Rajesh, et al., June 2018)

How Global companies are revolutionizing Talent Acquisition (TA) with AI?

Here are four global companies and how they are using AI in TA.

Vodafone

It’s a telecommunications company in London, uses AI-powered video interviews to streamline its hiring process, saving both time and money, uses AI-powered video interviews to streamline its hiring process, saving both time and money while evaluating far more candidates than human recruiters can. Job applicants record themselves responding to standardized questions, and AI technology analyzes their interviews, assessing suitability across 15,000 different factors, including body language, facial expressions, voice tone, and speech rhythm. (Rajesh, et al., June 2018)

Unilever 

In 2017, Global FMCG leader Unilever implemented AI to screen all entry-level hires. Applicants participate in neuroscience-based games to assess their inherent traits. And their recorded interviews are evaluated by AI. Unilever views the initiatives as a significant success and plans to continue it indefinitely. The company reports that the approach has greatly improved both diversity and cost efficiency. (Rajesh, et al., June 2018)

Amazon

Amazon has been creating an automated system to evaluate job applications using AI to determine which candidates are most likely to success in their roles. The software reviews applications, comparing them to data and behavioral patterns of current employees. Once promising candidates are identified, they are fast tracked to top-tier interviews for mid-to high level positions within the company. (Espinoza, 2024)

LinkedIn

LinkedIn has been utilizing AI for job recruitment for several years and is now developing a more advanced generative AI to further integrate into the platform’s features. This new AI will assist both job seekers and recruiters in finding better matches more often. (Espinoza, 2024)

Benefits of AI in Talent Acquisition

One of AI’s biggest benefits in TA is its ability to quickly process large volumes of data. AI can sift through thousands of job applications within seconds, pinpointing the top candidates instantly. AI-driven chatbots and virtual assistants are revolutionizing the candidate journey. These tools handle tasks like answering queries, scheduling interviews, and offering feedback, making the process more interactive and responsive. This will improve a company’s brand image and help attract high quality candidates. AI empowers recruiters to make informed decisions based on data throughout the hiring process. With predictive analytics, companies can pinpoint the most effective recruitment strategies, allowing them to optimize resource allocation. AI algorithms are highly effective at matching candidates to job positions. By analyzing resumes, skills, and job criteria, AI can identify the most suitable candidates, improving the chances of successful hires and helping to reduce employee turnover. AI software assesses the likelihood of a candidate’s success by comparing their previous work experience with the performance and behavior of current employees in similar positions. This contributes to improved talent retention by fostering strong, lasting relationships with employees who are committed to their roles and the organization.

Challenges of AI in Talent Acquisition

AI platforms have shown pre-programmed biases, including those related to race and gender, raising ethical concerns. This poses a particular risk in hiring processes, where biases embedded in AI can result in discriminatory hiring practices. As a result, some applicants may be unfairly rejected, without recruiters even realizing it. The use of AI brings up privacy issues, particularly with the growing collection and analysis of candidates’ personal data. While AI can improve the candidate experience, there is a risk of making the process too impersonal. Also, chatbots and AI tools offer only pre-programmed responses to candidate inquiries, and the data they analyze is done quantitatively rather than qualitatively. Some hiring decisions are made based on factors like personality and ambition rather than solely on experience. These qualities may fail to be recognized by AI tools. 

AI vs Humans in Talent Acquisition Who Wins?

Figure 1 - AI vs Humans in Talent Acquisition Who Wins? (Source - Bython,2021)

Conclusion

According to (Paramita, 2020), Using AI to assist recruiters allows for a more efficient hiring process while still maintaining a limited personal touch through chatbots. The focus on building relationships can take place during the interview stage. While candidates are open to innovative recruitment methods, personal interaction remains a key part of the process, as recruitment is about working with people and fostering connections. Thus, despite advancements in technology, the relational aspect is just as important as achieving efficiency. And according to (Bilal & Várallyai, 2021), The growing reliance on AI to handle time-consuming talent acquisition tasks reinforces the idea of augmented intelligence in HR management. This shift in the role of IT could pose a competitive risk for organizations that fall behind, potentially impacting their ability to attract and retain qualified talent. As a result, HR leaders must stay updated on AI research, market adoption trends, and its potential impact on HR management. Artificial Intelligence systems are no longer just a concept of the future, they are a reality today and will become a core technology for business operations. In this context, it is essential for organizations to recognize and adopt AI for TA strategies in the organization.

References

Bilal, H. & Várallyai, L., 2021. Artificial Intelligence in Talent Acquisition, Do we Trust It?. Journal of Agricultural Informatics, 12(ISSN 2061-862X), pp. No. 1:41-51.

Bython., 2021. AI vs Humans in Talent Acquisition Who Wins?

Available at: https://youtu.be/82aJPW6T-7k?si=j50RaBTwbH89ho-j

[Accessed 12 October 2024]

Espinoza, G., 2024. www.turing.com. [Online] 

Available at: https://www.turing.com/resources/ai-in-talent-acquisition

[Accessed 12 October 2024].

Henkin, D., 2023. www.forbes.com. [Online] 

Available at: https://www.forbes.com/sites/davidhenkin/2023/10/23/transforming-talent-acquisition-with-ai/

[Accessed 12 October 2024].

Michelotti, B., 2023. www.aberdeen.com. [Online] 

Available at: https://www.aberdeen.com/blog-posts/can-the-rise-of-ai-in-hiring-shape-the-future-of-talent-acquisition/

[Accessed 12 October 2024].

Paramita, D., 2020. Digitalization in Talent Acquisition: A Case Study of AI in Recruitment. p. p. 97.

Rajesh, S., Kandaswamy, U. & Rake, A., June 2018. The impact of Artificial Intelligence in Talent Acquisition Lifecycle of organizations: A global perspective. IJEDR - International Journal of Engineering Development and Research, Vol.6(Issue 2), pp. page no.709-717.

Talent Acquisition in today's business world

 

With businesses facing heightened competition and rapidly changing environments, the challenge of finding suitable candidates has grown significantly. As a result, organizations are shifting their focus towards Talent Acquisition (TA), recognizing it as a critical function that can drive success. (Tripathy,2014)

The transformation of HR into a strategic asset for organizations underscores the need for a more innovative approach to Talent Acquisition. In this context, viewing talent as an asset to be strategically acquired has led to a more proactive and sophisticated Talent Acquisition process. This evolution not only enhances the ability of businesses to attract top talent but also ensures they remain competitive in a rapidly evolving marketplace.

                             Figure 1 – Talent Acquisition for Business Growth (source - 9YardsTechnology, 2024)

In businesses that are people-centric and knowledge-intensive, the quality and efficiency of the workforce are fundamental. The responsibility of ensuring that organizations have access to the highest level of talent pool largely with the Talent Acquisition (TA) function within Human Resources.

According to records most of the employers complain about the difficulty in right talent acquisition. Fast growing talented candidates and various challenging employer requirements have become a great challenge to TA teams in organizations. Common challenges in Talent Acquisition are, Recruiter bias, Competition for top talents, skills shortage, poor employer branding, disconnected interview processes, and dragging the hiring time. (Oommen, 2024)

It is believed that poor hiring choices and difficulties in attracting and retaining the right talent contribute to at least one-third of business failures. Replacing a manager or professional typically costs between 1.5 to 3 times their annual salary. Dealing with an underperformer can lead to costs reaching six figures. Moreover, the ongoing failure to secure and retain top talent, which impacts productivity, morale, company culture, and reputation, has immeasurable consequences.

However, Talent Acquisition is regularly full with challenges. Recruiters must explore a demand pipeline that can be exceedingly variable and frequently unclear, making it difficult to meet future business requirements. This uncertainty places extra weight on the talent acquisition function to act quickly and strategically.

In conclusion, as today's businesses strive for excellence, the importance of a robust Talent Acquisition strategy cannot be overstated. By focusing on quality recruitment, businesses can ensure they have the skilled workforce necessary to meet the challenges of an ever-evolving market. To thrive in this environment, TA  must attract top talent from a complex supply chain. This involves not only identifying and engaging with potential candidates but also understanding the intricacies of the talent market and the particular needs of the organization. By successfully sourcing and recruiting high-quality candidates, Talent Acquisition plays a critical role in driving the overall success of the business. Thoughtful organizations and leaders build strategies around acquiring talent to meet both current and future business needs. In summary, by prioritizing this function, businesses can secure the right talent that is essential for long-term success. 

REFERENCES

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