Cornerstones of HR Value Chain (Talent Acquisition) - Part 1

In this series, I shall attempt to walk you through the HR Value chain (1. Talent Acquisition 2. Employee Engagement 3) Organization Development 4) HR Operations) in detail on which I have already touched upon in a brief manner and given a bird’s eye view in my earlier post. To refresh, please click on the link below :
http://hrsuccessmantra.blogspot.com/2009/04/hr-value-chaincornerstone-of-successful.html

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 –
  1. Performance based job descriptions that clearly define expectations
  2. A structured hiring & selection process based on objective evaluation principle
  3. Hiring calendar covering key events for the year that everyone must follow
  4. Comprehensive sourcing plan that brings in the top talent from the industry
  5. An effective training program taken by everyone involved in the hiring process
  6. 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!

8 comments:

  1. how exactly you differentiate Talent Acquisition with Recruitment

    ReplyDelete
  2. Hi Ravi,

    I just happened to read your comments at the end of the topic and noticed your query. Though, Raj will be the most appropriate person to address it. However, thought of sharing my understanding with you before he reverts......

    Firstly, Talent Acquisition is a sub set of Talent Management in a broader sense. But, in some cases it can even go beyond the set arena of Talent Management due to certain objectives. Their operations are primarily driven by the market and business respectively.

    Secondly, Talent Acquisition is bigger or broader than Recruiting. Also, TA is proactive in its basic model or nature whereas Recruiting is more of reactionary process. Hence, TA is more to do with planning to meet business objectives and needs.

    Keeping the above in mind and as per the knowledge combination – TA can be defined as a process around the business activities such as planning, attracting talent by adds etc., evaluating and boarding of new potential and existing employees into specific function and position in the organization. Therefore, TA is (1) proactive (2) driven by market (3) broader than Recruiting and its modern in approach. And ...whereas (1) Recruiting reactive (2) sub set of TA and an old model. Raj / Logic Networks

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  3. Hi Raj, Appreciate your inputs. You have very well captured the essence. Ravi, hope you have got the clarity, do let me know in case I can be of help. Regards, Raj

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  4. Gaurav Kapil7:33:00 PM

    I think TA = Recruitment (lateral or fresh or otherwise)...

    What all said is actually is the way Recruitment should have been done in all those past decades... We cannot say that recruitment is alike forced recruiting of kids/adolescents in LTTE or Myanmar Military... TA is just new jargon unlike new term Employer Branding, which is very relevant...

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  5. Raj, Thanks for ratifying my way of doing HR in my organization - Hire for Attitude, train for Skills and reward for performance. Thanks once again. Let me share HR professionals of previous generation do not believe and practice.

    ReplyDelete
  6. Anonymous2:32:00 AM

    Hi Raj,

    Thank you very much for the notes. It made all the process understanding way easier. Also, provided a right picture about understanding of talent acquisition as HR value chain. Thanks..!!

    Gautam

    ReplyDelete
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    ReplyDelete
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