TALENT ACQUISITION VS. RECRUITMENT

 

Recruiting & Talent acquisition. Doesn’t it all mean the same thing?

There’s a crucial difference between recruiting and talent acquisition and understanding this will help to establish a more effective hiring strategy.

Recruitment is about filling vacancies. Recruitment is the end-to-end process of effectively and efficiently sourcing, screening, selecting, and appointing the best-suited candidate to the right role. This entails not only filling in vacancies but also predicting talent requirements and proactively managing talent (Ghose, 2020).  

Recruitment is an action of tactical process to solve an immediate problem. Talent acquisition is a strategy, an ongoing process of making your company the most attractive place for quality talent, while ensuring you make use of the many avenues through which new talent can be sourced.

Further, talent acquisition tends to focus on long-term human resources planning and finding appropriate candidates for positions that require a very specific skillset

Employers who implement a talent acquisition strategy realize that recruitment is not just about scrutinizing candidates to see if they’re right for your company, it’s also about convincing potential talent that you are the right company to meet their career expectations.

The Talent Acquisition Process

• The talent acquisition process involves several complex steps.
• Lead generation
• Recruiting and attracting top candidates
• Interview and Assessment
• Evaluating references
• Selecting the best candidate(s)
• Hiring and Onboarding

Company could use direct sourcing to discover more candidates, make it easy to nurture candidates through all social media channels, utilize a one-click application function to make applying as easy as possible for job seekers, and offer unique tools to build exceptional career sites optimized for mobile use.

Effective Talent Acquisition

• Forecast effectively
• Build a high-quality pipeline
• Work Collaboratively
• Do not rush the process

Conclusion

Recruitment process fill vacancies. Talent acquisition consultants and utilize an ongoing strategy of identifying specialists, leaders, and future executives for your organization. Talent acquisition departments of HR focus more on long term human resources planning rather than short term labor demands.

References 

HR morning. 2021. 5 Ways to Fine Tune Talent Acquisition with an Eye on Recession. [ONLINE] Available at: https://www.hrmorning.com/articles/fine-tune-talent-acquisition/. [Accessed 16 December 2021].

HR morning. 2021. Talent acquisition vs. recruitment: Understanding the difference. [ONLINE] Available at: https://www.hrmorning.com/articles/talent-acquisition-vs-recruitment/. [Accessed 16 December 2021].

Search HR software. 2021. How are recruitment and talent acquisition different?. [ONLINE] Available at: https://searchhrsoftware.techtarget.com/feature/How-are-recruitment-and-talent-acquisition-different. [Accessed 17 December 2021].

Smart Recruiters. 2020. Talent Acquisition vs. Recruitment. [ONLINE] Available at: https://www.smartrecruiters.com/resources/glossary/talent-acquisition/#talent-acquisition-vs-recruitment. [Accessed 16 December 2021]

You Tube. (2021). Talent Management vs. Talent Acquisition vs. Recruitment. [Online Video]. 6 December 2020. Available from: https://www.youtube.com/watch?v=tBaq3J2-AHk. [Accessed: 17 December 2021].

 

EMPLOYEE TURNOVER

 

That employee turnover can either be positive or negative, but all have a significant impact on productivity (Boxall and Baldwin, 2002)

Types of employee turnover

Voluntary turnover – In evident to the article of Gomez-Mejia et al (1997) voluntary turnover as a separation that occurs when an employee decides for personal reasons to end the relationship with the employer. Further, illustrated by Sims (2007) voluntary turnover occurs when an employee initiates the termination of their employment of their own free will.

The decision could be based on the employee obtaining a better job, changing career, or wanting more time for family or the present job is unattractive because of poor working conditions, low pay or benefits.

Involuntary turnover – As explained by the article of Mkhize (1998),  involuntary turnover as when an employee is asked by the organization to leave. Involuntary turnover represents employer-initiated job separations over which employee have little or no personal say, such as dismissal or layoffs.  It might be employers would not want to keep poor performers or excess manpower.

The costs of employee turnover

HR should know that employee turnover is a major cost and significantly impacts an organizational performance (Irvancewich, 1994). However, the cost of retaining and filling vacancies, lost productivity from vacant jobs and cost of training new employees increase operational costs of the company.

For organization level, the problem arises when leaving employees take their valuable knowledge and expertise gained through experience with them. This turnover leads to numerous costs for the organization, such as:

• Exist interview time and administrative requirement
• Payout of unused vacation time
• Cost of temporary workers
• Overtime for co-workers
• Training costs
• Replacement costs include advertising, processing of candidates, interviewing, selecting.

Conclusion

According to Mitchell (1981), job satisfaction has been related to turnover. Overall, there was a negative relationship between job satisfaction and turnover although the strength of the relationship varied form study to study. In general, satisfied employees are less likely to leave their jobs than those with high job satisfaction quotients. 

References

UKEssays. (November 2018). Employee Turnover Types, Theories and Effects. Retrieved from https://www.ukessays.com/essays/management/the-description-of-employee-turnover-management-essay.php?vref=1

Flowers. S.V and Hughes. L. C, (1973). ‘Why employees stay’. Harvard business review [Online]

https://hbr.org/1973/07/why-employees-stay [Accessed 15 December 2021]

Mathimaran. K.B & Kumar. A.A, (2017). ‘Kumar employee retention Strategies - An empirical research’. Global journal of management and business research .E-marketing, 17(1)

TALENT MANAGEMENT & BENIFITS

Talent Management can be explained as managing the ability, competency and power of employees within an organization. The concept is not restricted to recruiting the right candidate at the right time but it extends to exploring the hidden and unusual qualities of the employees and developing and nurturing them to get the desired results.

In evident to the recent article of Collings and Mellahi (2009) focus on ‘the development of a talent pool of high potential and high performing incumbents’ who can fill the key positions in the organization and help to deliver ‘sustainable competitive advantage.

Talent Management in organizations is not just limited to attracting the best people from the industry but it is a continuous process that involves sourcing, hiring, developing, retaining and promoting employees while meeting the organization’s requirements simultaneously.

Significant of Talent Management

• Understanding Employees skills and talent better
• Better professional development within the organization
• Establishing a high-performance workforce
• Attracting individuals with high potential and retaining them through proper training and refreshment
• Increasing the productivity of the organization
• Proper time management, as untrained and unskilled workforce lead to wastage of time and commitment of errors, which is not cost-effective
• Retain talented and high-performing employees
• Ensuring growth and innovation in the organization
• Developing skills and competencies in employees

Part from this having a strong talent management culture also determines how organization rate their organizations as work places. In addition, if employees are positive about the talent management practices of the organization, they are more likely to have confidence in the future of their organization. The resultant is a workforce that is more committed and engaged determined to outperform their competitors and ensure a leadership position in the market for their organization.

By sustaining talent employees through a better talent management system organization will have following benefits.

• New employees cost the company 30-60 % more than the existing employee in terms of compensation only.
• There is an additional cost incurred on training and developing the new individual.
• The process of recruitments itself costs an organization in a big way, right from advertising a post, to attracting talent and finally short listing and hiring someone for the job.

Conclusion

Talent is the most important factor that drives an organization and takes it to a higher level, and therefore, can not be compromised at all. It won’t be exaggerating saying talent management as a never-ending war for talent.

References 

Ongori. H & Nzonzo. C, (2011). ‘Training and development practices in an Organization: an intervention to enhance organizational effectiveness’. International Journal of engineering and management science. Botswana, V.2 (4) P: 187-198

ec.europa. 2020. Talent management in public employment services. [ONLINE] Available at: https://ec.europa.eu/social/main.jsp?catId=89&furtherNews=yes&newsId=9543&langId=en. [Accessed 16 December 2021].

cerveausys. 2018. Talent Management Strategies for Rapidly Expanding Organizations. [ONLINE] Available at: https://www.cerveausys.com/blog/top-7-talent-management-strategies-rapidly-expanding-organizations/. [Accessed 15 December 2021]. 

ORGANIZATIONAL CULTURE AND PERFROMACE

Organizational culture has been shown to be an important aspect of a firm, as it can, and does affect employee’s behaviors, motivation and values which reflect to the performance.

In evident to the article of Kandula (2006) the key to good performance is a strong culture. He further illustrates that due to difference in organizational culture, same strategies do not yield same results for two organizations in the same industry.

A positive and strong culture can make a better individual performance and achieve brilliantly whereas a negative and weak culture may demotivate an outstanding employee to underperform and end up with no achievement. 

In the article of Murphy and Cleveland (1995) explain that research on culture will contribute to the understanding of performance management. However, as illustrate by Magee (2002) contends that without considering the impact of organizational culture, organizational practices such as performance management could be counterproductive because the two are interdependent and change in one will impact the other.

Denison’s organizational culture model is based on four cultural traits involvement, consistency, adaptability, and mission that have been shown in the literature to have an influence on organizational performance (Denison, 1990; Denison & Mishra, 1995).

Figure 01- conceptual model of organization culture and performance management practices

Conclusion 

Essentially, culture determines “how things are and how things get done around here.” It is largely invisible, and very powerful. In evident to the article of Heneman (2007) also asserts that organizational learning, development, and premeditated change cannot be comprehended devoid of acknowledging culture as the prime cause of opposition to change.

Organizational performance management creates career paths for employees who remain in the firm for a long enough for a company culture to form. Thus, organization can implement such management practices that foster job security and internal career development to keep turnover low and maintain those social phenomena that comprise organizational culture (values, beliefs, norms, assumptions) within the organization, and therefore forming a strong organizational culture which drives performance.

References 

AIHR. 2021. Organizational Culture and HR’s Role in Shaping It. [ONLINE] Available at: https://www.aihr.com/blog/types-of-organizational-culture/. [Accessed 16 December 2021].

Armstrong, M., Baron, A. (1998). Performance Management: The New Realities, Institute of Personnel and Development, London

Denison, D. R., & Mishra, A. K. (1995). Toward a theory of organizational culture and effectiveness. Organization Science, 6(2), 204–223

Kandula, S. R. (2006). Performance Management, New Delhi: Prentice Hall of India private limited

Magee, K. C. (2002). The impact of organizational culture on the implementation of performance management (Doctoral dissertation). Available from Dissertations and Theses database (UMI No. 3047909)

Murphy, K. R., & Cleveland, J. N. (1995). Understanding performance appraisal: Social organizational and goal based perspectives. Thousand Oaks: Sage Publications

Vantagecircle. 2021. Organizational Culture and its Advantages. [ONLINE] Available at: https://blog.vantagecircle.com/types-of-organizational-culture/. [Accessed 16 December 2021].

EMPLOYEE ENGAGEMENT

Employee engagement is a now management hot topic and which has quickly absorbed into the HR agenda (Soldati, 2007). Level of employee engagement within a Company promote retention of talent, faster customer loyalty and improve Organization performance which help to increase the profit.

Economic growth and expansion have been emerging many investments opportunities and finding people for the Organization and maintaining the competitiveness from other Organizations is a key factor.

Source: Quantum work place, Best places to work Data 

These levels of engagement were unexpected as COVID-19 disrupted the lives of employees and the way many businesses operate. However, many organizational leaders adapted to this disruption in order to support employees’ needs.

Facts  Impacting for Negative Employee Engagement

1.       Leaders Lack Transparency and Communication About Organizational Changes
2.       Trust in Leadership Declines After the Height of the Pandemic
3.       Work-Life Balance Has Been Disrupted due to new normal
4.       Organizations Lack Employee Health and Wellbeing Support.
5.       Employee Recognition is Trending Downward
6.       Career Growth Opportunities Have Become Less Clear

HR Focus areas to improve the Employee engagement

• Employer Brand
• Learning and Development
• flexibility and Mental Wellbeing
• Employee Feedback

The lasting effects of the pandemic have created a changeable work environment, unparalleled to recent times. The unique chain of events that workplaces experienced over the past 18 months prompted an understanding behind the importance of employee engagement to sustain skilled employees as well as maintain the organizational performance. 

High level of employee engagement in an Organization will help to organization to maintain increase brand value, increase profit, revenue growth, and desired stakeholder satisfaction. 

References 

Work Institute. 2019. DEFINING VOICE OF THE EMPLOYEE & WHY IT’S IMPORTANT. [ONLINE] Available at: https://workinstitute.com/defining-of-voice-of-the-employee-why-it-is-important/. [Accessed 14 December 2021].

Quantum Work Place. 2021. EMPLOYEE ENGAGEMENT TRENDS. [ONLINE] Available at: https://www.quantumworkplace.com/future-of-work/employee-engagement-trends. [Accessed 15 December 2021].

Effectory. 2021. The 2021 Global Employee Engagement. [ONLINE] Available at: https://www.effectory.com/knowledge/the-2021-global-employee-engagement-index/. [Accessed 15 December 2021]

Emerchemie nb, 2008. Emerchmie nb. [Online] http://www.slcpi.org/members/245-emerchemie-nb-ceylon-ltd.html [Accessed 15 December 2021]

VOICE OF THE EMPLOYEE

 

Voice of the Employee is the most critical driver to a organization experience strategy. It provides the essential intelligence to employees’ interests, needs, and discontents. In evident to the recent article of Boxall and Purcell (2003) ‘Employee voice is the term increasingly used to cover a whole variety of processes and structures which enable, and sometimes empower employees, directly and indirectly, to contribute to decision-making in the firm. 

Trends of Voice of Employees

When there is a Positive voice, organization can expect higher level of performance, innovation, staff well-being, staff retention and create open working environments where people feel valued. Employees’ voice plays a role in both employee participation and involvement. According to articles of Williams and Smith (2006) ‘‘Participation which is about employees playing a greater part in the decision-making process by being given the opportunity to influence management decisions and to contribute to the improvement of organizational performance’’

Forms of voice of employees

Participation: In the article of Williams and Smith (2006) explained, the term ‘participation’ refers to arrangements that give workers some influence over organizational and workplace decisions.

Involvement: In evident to the article of  Williams and  Smith (2006), suggest that this term is most usefully applied to management initiatives that are designed to further the flow of communication at work as a means of enhancing the organizational commitment of employees.

Organizations are keen to have employee voice because the concept gives win-win situation for the organizations as well as employees. One suggestion could be a million-dollar idea (Brenson, 2015).

The Importance of Voice of Employee

The importance placed upon capturing voice of employee has increased as organizations realize that there are multiple benefits associated with it. Below are a few key benefits of capturing the voice of employees.

• Increased Retention
• Increased Engagement
• Improved Job Satisfaction:
• Higher Performance Ratings

Conclusion

A company with employees’ voice is emotional application of employees and it will lead to employee’s motivation and satisfaction so then it will help to attract, retain great people and higher performances. 

References

Armstrong. M, (2009). Handbook of Human Resource Management Practice. 11 edition. London:  Kogan, P.935-939.

Michael. B , Wilkinson. A, and Dundon.T, (2018). Employee voice: conceptualizations, meanings, limitations and possible integration. [Online]   https://www.researchgate.net/publication/325817560_Employee_voice_conceptualisations_meanings_limitations_and_possible_integration [Accessed 14 December 2021] 

Human Resource Executive. 2021. 5 Ways to Address Negative Social Media. [ONLINE] Available at: https://hrexecutive.com/5-ways-to-address-negative-social-media/. [Accessed 14 December 2021].

Work Institute. 2019. DEFINING VOICE OF THE EMPLOYEE & WHY IT’S IMPORTANT. [ONLINE] Available at: https://workinstitute.com/defining-of-voice-of-the-employee-why-it-is-important/. [Accessed 14 December 2021].

IMPACT OF WORK FROM HOME

 

Work from home is a modern work approach enabled through internet and mobility where in irrespective of the physical location of an individual work can be done. It helps to keep productivity of the employee same or even better and at the same time supports the employee for being with family or handling some personal work.

Although the pandemic has battered the economy to appoint where we likely won’t see a return to trend until 2022 (Baker et al., 2020), things would have been far worse without the ability to work from home.

Work from home has allowed us to maintain social distancing in our fight against COVID-19. So, working from home is economically essential for business continuity. During the COVID pandemic, many companies all around the world asked their employees to work from home to as a plan of business continuity. In recent years a new discourse surrounding the work–life balance has emerged replacing family friendly policies (Bryson et al., 2000). 

Work from home has been applied as an interim special working arrangement provision and business continuity during the covid-19 pandemic. Work from home or remote working will be extended as an integral part of working arrangement as the organization can be defined as “New normal” and the-Future-of-work”.

Advantages of Work from Home

• There is a lot of savings with respect to cost of office infrastructure like spaces, electricity bills
• Employees feel motivated as they get a good work life balance, and improves their productivity
• Many people claim that a more quieter or friendly atmosphere is found at home which helps to concentrate on the work as well as they can complete the assigned work quickly.
• Increased productivity
• Improved technical skills
• Improved communication skills
• More work flexible

Disadvantages of Work from Home

• There is always a major problem with monitoring the work.
• The cost of technological infrastructure that is required for implementing the concept.
• There is always a security problem with data being transferred and that can’t be monitored easily.
• All jobs doesn’t is not suitable for work from home concept. Sometimes communication problem between employees makes it problematic for a job.
• Increased isolation
• Risk of overworking
• Risk to productivity
• Distractions at home
• Workplace disconnects
• Disproportionate work-life balance
• Less social and culture connectivity among the employees.

Source: Quantum work place; Best Place to Work Data, 2021

In fact, 21 percent of employees said they wanted to work remotely full-time under normal circumstances; 68 percent wanted a hybrid environment; and only 11 percent wanted to be on-site full-time. This indicates that many employees prefer to work in a remote or hybrid way even after the pandemic

For WFH to succeed, it is essential to have an effective performance review system. If you can evaluate employees based on output what they accomplish they can easily work from home. If they are effective and productive will help to increase the operational efficiency while reducing operational cost.

 

References

Baker, S.R., Bloom, N., Davis, S.J., Terry, S.J. (2020). COVID-Induced Economic Uncertainty (No. 26983). National Bureau of Economic Research

BBC News. 2021. Covid: Work-from-home guidance reintroduced in England. [ONLINE] Available at: https://www.bbc.com/news/uk-59632424. [Accessed 15 December 2021].

Bloom, N., Liang, J., Roberts, J., Zhichun, J.Y. (2014). Does Working from Home Work? Evidence from a Chinese Experiment. Quarterly Journal of Economics.

NCBI. 2021. Impact of Work-From-Home Human Resource Practices on the Performance. [ONLINE] Available at: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8586703/. [Accessed 14 December 2021].

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