The Difference Between Recruitment and Talent Acquisition
The terms “talent acquisition” and “recruitment” are often confused as meaning the same thing, but this is not the case. There are key differences between the two, differences with which you should familiarize yourself if you’re looking to hire the most qualified candidates for specific positions within your company. For starters, recruitment means that you’re looking to hire someone, dare I say anyone, in order to fill a vacancy. Talent acquisition, on the other hand, is the process of strategically looking for specialists, leaders, future executives, or other qualified professionals for a specific position within the company. Let’s delve into both and take a look at which one is better depending on the industry and why:
- Recruitment – Again, recruitment is the process by which you look to fill vacant positions quickly and without much regard for the candidate’s’ particular specialties, if defined. Recruiting may be seen as reactive, meaning that a position recently opened up and it must be filled.
- Talent Acquisition – As previously stated, talent acquisition is all about actively searching for the most qualified candidate to hire for a specific position. This strategy is common among niche industries such as, medical, technology, legal, and even translation services. Kathleen Quinn Votaw, Founder and CEO of the HR consulting firm, TalenTrust, says that, “The areas with the greatest skills shortages are those that most need a talent strategy.” Typically, if you’re looking to hire people for a long-term position, you should aim for talent acquisition, so as to lower a potentially high turnover rate, which is a possible effect of recruiting less-qualified candidates.
Talent acquisition is becoming increasingly more popular, and usually requires some marketing strategies to make the position known to specific, potential candidates. As niche industries continue to grow and populate as preferred career paths, hiring managers within are simultaneously scouting out candidates with the best talent, who are most qualified, and who will both ameliorate, as well as benefit from working for, the company. Define whom you’re looking to hire and for which positions, and either recruit or acquire talent accordingly.