A guide for upgrading the talent acquisition process for entrepreneurs

Talent acquisition process for entrepreneurs

Finding the talent and keeping them on board is crucial for a company. However, with some right tools and methods, you can add value to your business by bringing precise talent to the post. 

It is the right time for entrepreneurs to buck up and work on their talent acquisition segment. It is anticipated that a major workforce that includes boomers will retire by 2030. Around 33% left the workforce during the Covid-19 pandemic.

Now that businesses are returning to routine dynamics, the organizations require new induction. So here is a guide for better talent acquisition practices.  

Is Recruitment an Element of Talent Acquisition?

It is not only part of talent acquisition but the beginning of the process. For an entrepreneur, it is crucial to identify and hire top-tier employees. Similarly, finding the talent suitable to meet the caliber and criteria of the designation.

You wouldn’t want to hire talent who supersedes in skill for the position. It can result in negative impacts like: 

• First, the talent will feel they are in the wrong place and would always look for a way out as the company intends to remunerate for the position, not the talent.
• Second, the talent will always look at the door and jump at the opportunity. As a result, Human resources (HR) will go through the red tape of hiring and letting an employee go.

Talent acquisition management must recognize and suggest the right talent for the right position.

Grooming As You Go

Any talent that you have onboard grows with each opportunity. It is a great element of any talent acquisition process.

Often, a great company reaches out to find talent but has a limited budget. Now it is a tricky scenario for any talent acquisition recruiter. They will be limited to three options:

• Hire a talent suitable for the gig with enough experience for the company’s stature.
• An expert candidate who would be a great addition to the company.
• Or a fresh graduate who has zero experience but fits the budget.

With an expert eye of a talent acquisition recruiter, they can see how suitable talent and experienced candidates will be ready to jump off the ship to find better opportunities.

Meanwhile, hiring a fresh graduate who is talented and has the potential to grow. The fresh graduate would stay on board as they prefer to gain experience and implement all education in the practical world.

An entrepreneur is always looking at the bigger picture when hiring a candidate. Hence talent acquisition evolves by finding the candidate who is not only talented but also eager to learn and develop and has the drive to make themselves the right fit for the company.

Work on the Brand

To attract talent that proves beneficial for an organization, the brand also has to make sure they make the mark that attracts talent.   

There are some metrics that brands can work on to develop themselves to attract the right talent.

• Consistent in brand messaging
• Work on social media presence and have a comprehensive profile on LinkedIn, Glassdoor, Indeed, and other relevant platforms. 
• The expectation of talent from the company
• Develop a culture that inculcates the growth of the talent
• Develop present employees as brand ambassadors

Retention

In this age of fast gratification, a company failing to live up to its promises will lose its integrity in the job market. Hence, an entrepreneur must keep things transparent in a job interview.

During the process of hiring talent, the talent acquisition manager should lay out all the scenarios. It can be achieved through job previews, judgment assessments, and job trials. 

As we enter 2022, most of the workforce is millennials. By the end of 2030, Generation Z (Gen Z) will make up 40% of the job cohort.

They are people who need transparency and are aware of their rights. Also, they demand constant communication and trust with the brand. Hence to keep employees invested in the company, try to learn how they perceive things.

Development of Manager

The acquisition manager plays a key role in talent acquisition and recruiting for any platform. The person is doing the most crucial job for the company, and all hires and acquisitions reflect the brand’s progress.

A brand needs to invest heavily in the person they rely on for productivity and brand identity. Therefore, they must train their talent acquisition management with new strategies, developments, and frameworks.

Sourcing the Talent

Often the talent you are looking for is not actively hunting for a job. A resourceful recruiter does not depend on LinkedIn or the traditional hiring process.

Instead, they have a network they have built meticulously, and when the time demands, they can look for the talent in no time.

Also, management must evolve with the changing market trends. For instance, as businesses are evolving, so does the job role. Hence management must be able to outline the job role and guide the new talent in the right direction.    

Technology is Your Best Friend  

For Talent acquisition AI toolsprove to be a great tool to reduce the time and clutter of the process. Using the right software would help you spruce up the search for the right candidate. Also, automation makes everything faster and more accurate.

Applicant tracking system powered by Artificial Intelligence with the help of defined matrices makes the search for the right candidate easier.   

Since the process is AI-powered, there is no chance of unconscious biases for gender or ethnicity. Instead, the selection is purely based on metrics and parameters required for the job post.

Internal Mobility

It is the best practice for a company to promote talent within the company. It creates an environment of appreciation and growth.

As a result, employees feel motivated, and with the continuous upgrade in their skills, you may have the right candidate ready within the company.

• To ensure you have candidates among you, invest in their skills.
• Get to know them better. You never know what skill set they have and how you can utilize it for a particular job/task.
• Inspire employees to pursue multi-directional transitions in careers.    
• Keep providing employees with learning opportunities

Imparting Wisdom

Talent acquisition is the core of any company. All hiring that comes for short-term or long-term impacts a business. The best practice is to reinvent the methods and processes with innovations and dynamics.

Last, during the hiring process, only one person is hired. Therefore, the talent acquisition process should be cordial and empathic for everyone involved.

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