Talent Acquisition vs Talent Management

Talent Acquisition and Talent Management are both a long-term processes that rely on a complex selection criteria.The essence of recruiting talent, focuses on matching talents to a given organization.

Talent Acquisition is the process of attracting and hiring qualified people.

Recruitment and selection of talents comes from two sources: internal recruitment (development of your own employee in the company) and external recruitment (acquiring a new employee from among candidates available on the market).

In the internal recruitment, talent can be nominated by the supervisor and the selection of the talent uses the results of employee periodic assessment, assessment of their potential, as well as other tools, such as: assessment centre, psychometric tools, tests examining the level of employees' knowledge, assessment of co-workers and management . You can conduct a systematic evaluation of employees through: personnel documentation, career history, training courses, opinions and assessments of external and internal trainers, opinions of: superiors, project managers, subordinates, clients, employee self-assessment or direct observation, e.g. using the "secret guest" method.

In the external recruitment, we acquire talents through – a competency based interview, psychological tests (intelligence, personality, stress resistance, etc.), examining the individual intellectual property of a potential talent and his/her achievements, checking references, unconventional methods of examining candidates (e.g. research on the ability to obtain information, solve problems and learn) In order to acquire new talents, maintaining permanent contacts with renowned universities, clubs and foundations associating graduates, research institutes, and professional associations, is also worth doing.

Talent Management is a set of activities that include the recruitment, development, appreciation and strengthening of the position of people with an above-average level of skills and intellectual potential, as well as the effective use of their abilities by the company for the implementation of the organization's strategy.

Many organisations put a great effort into acquiring employees for their company, but spend too little time on maintaining and developing the talents of already employed employees. Talent management assumes that enterprises treat all areas in an integrated, strategic and targeted manner, from recruitment through implementation, evaluation, training, development, maintenance and succession.

So how to keep your talents interested in their work and your organisation?

• By developing talents and enabling them to: participate in training, workshops or studies, carry out new tasks, as well as e-learning, coaching, mentoring, participation in projects, job rotation or delegation to another branch of the organization
• Creation of conditions for harmonious and targeted development by career path planning, process improvement, self-improvement, motivating and evaluating
• Expanding career opportunities, alternative to traditional promotion to higher levels of the organizational hierarchy (e.g. roles and functions of an internal expert and adviser, consultant, project coordinator, independent contractor of a complex research project, supervisor of newly hired employees or company's management representative for implementation of the new systems and processes.
• The use of preferential contracts of employment for the best employees, containing above-standard personnel solutions regarding working time, remuneration, additional motivation or professional development (e.g. qualification courses, internships abroad, privileged access to information and company’s knowledge, the possibility of participation in the implementation of attractive tasks and projects) I've recently come accross a job advertisment that offered joining comany's ,,Top Achievers Club" created to recognise excellence in their employees. That's an idea!
• Checking the skills and knowledge of trainees as well as students and apprentices - they may be your ,,rising stars"
• Conducting continuous assessments and modifications of the functioning system, determining the methods of eliminating the existing barriers and threats
• Systematic ratio analysis, which allows obtaining objective and comparable results, capturing trends, deviations from the expected state and assessing the progress in achieving talent management goals (including indicators: talent development level, staff reserves for key positions , talent efficiency, the level of expenditure on recruitment, selection, training and development of talents)
• Conducting exit interviews with departing talents to understand what factors make talents decide to leave your organisation

Identifying and selecting the best, most talented employees is an investment in the development of the company's human capital at the highest quality level. Appropriately conducted actions in the field of talent management result in numerous benefits for organizations from their business perspective. The most important ones include:

• Improvement of revenue levels and customer satisfaction
• Lower recruitment, selection and operating costs
• Overall organizational effectiveness, including work quality and employee relations

Nowadays, companies are increasingly fighting to acquire talent available on the market. Meanwhile, a much beneficial and less costly way is to focus on the human potential of your own organization. Talented and highly qualified employees can be found in both, large corporations and smaller companies. In a safe work environment, exceptionally talented employees will have the opportunity to fully develop their potential - solve problems, implement ideas and, above all, use their unique skills, knowledge and talent.

Inspired by:

• https://blog.vantagecircle.com/talent-acquisition/
• https://www.dreamstime.com/talent-management-process
• https://dirahrsolutions.com/talent-acquisition-recruitment/
• https://www.skilohr.com/pl/blog/2016/opanuj-sztuke-zarzadzania-talentami/
• ?Wikipedia