In this first series of the cornerstones of HR value chain, let’s take TALENT ACQUISITION to begin with. The mantra for hiring that I have outlined basis my experience is -
“Hire for ATTITUDE, train for SKILLS and reward for PERFORMANCE”
Talent Acquisition - This primarily refers to the process of sourcing, screening, selecting and retaining the best fit of people for any organization. Hiring right people is one of the most significant contributions you can make to your organization and good hiring decisions create a foundation for more effective performance by you, your team and your company. Today the organizations are making best attempts to provide and retain the right kind of talent and skills to the industry.
Let’s look at some of the key components of Talent Acquisition as a function –
Hiring Strategy – someone has rightly quoted - “failing to plan is planning to fail” which applies more to hiring strategy than any other component. A good hiring strategy brings in some of the best results in the form of –
- Performance based job descriptions that clearly define expectations
- A structured hiring & selection process based on objective evaluation principle
- Hiring calendar covering key events for the year that everyone must follow
- Comprehensive sourcing plan that brings in the top talent from the industry
- An effective training program taken by everyone involved in the hiring process
- Sound understanding of business helping brand and attract talent
In the next part I will share my thoughts on the other components of Talent Acqusition i.e. Resource Planning, Staffing, Channel Management and Branding!