Strategic Talent Management

(Yadwadkar, 2018)

Strategic talent management is essential to the overall performance of a business in the ever-changing field of human resource management (HRM). The two interrelated but separate processes of talent acquisition and recruitment are at the center of this strategy. With an emphasis on the mutually beneficial interaction between recruiting and acquisition, this blog explores the subtleties of talent management.

Let's start by defining talent acquisition and recruitment clearly. Despite their frequent interchangeability, they cover different tasks within the larger HRM domain. A planned method of finding and luring outstanding people that prioritizes long-term organizational goals is known as talent acquisition. Conversely, recruitment is the strategic process of immediately filling unfilled positions, frequently by locating and employing individuals (Chaney, 2023).

(AIHR, 2020)

When it comes to workforce planning, talent acquisition is a strategic activity that looks long-term. To attract top talent even before job opportunities emerge, entails proactive talent sourcing, talent pipelining, and employer branding campaigns. On the other hand, recruitment is typically more tactical in nature, with an emphasis on quickly filling open positions without always taking long-term talent requirements into account (Rokad, 2023).

The growth and performance of the company are more significantly and strategically impacted by talent acquisition. The purpose of the company's talent acquisition strategy is to acquire top talent who share these values and goals to create a high-performing workforce that can drive innovation and adjust to changing business needs. While recruiting is crucial for meeting short-term employment needs, its impact on long-term organizational goals may not always be as great (Oribhabor and Hastwell, 2023).

Sri Lankan Context

Talent acquisition in Sri Lanka involves the use of organized interviews and public service placement tests. On-the-job training and job orientation were common Talent Augmenting techniques. Performance appraisals and efficiency bar exams were the main techniques utilized for talent assessment. Programs for capacity building, transfer, and domestic and international training are utilized for talent development. The primary technique for measuring talent is the performance appraisal system. Tenure-based promotion and transfer are used for both retention and transition (Jayasena, Rajasekara and Wenkai, 2023)

In Sum

Although both talent acquisition and recruitment are crucial elements of the employment process, they are distinct strategies with different goals and consequences. While recruitment is typically more transactional and focused on filling urgent job shortages, talent acquisition takes a deliberate, long-term approach to securing top people aligned with corporate goals. Organizations may create more successful plans for luring and keeping top talent in the cutthroat business world of today by knowing the distinctions between talent acquisition and recruitment.

Reference list

AIHR (2020). Talent Acquisition: A Full Guide. [online] AIHR. Available at: https://www.aihr.com/blog/talent-acquisition/.

Chaney, T. (2023). Talent Acquisition vs. Recruitment: The Basics and Differences. [online] Upwork. Available at: https://www.upwork.com/resources/recruiting-vs-talent-acquisition#:~:text=Talent%20acquisition%20focuses%20on%20long,at%20filling%20immediate%20job%20openings.

Jayasena, S., Rajasekara, J. and Wenkai, L. (2023). Talent Management for Enhancing the Efficiency of Human Resources in the Public Sector of Sri Lanka: A Comparative Study. Kelaniya Journal of Human Resource Management, 18(2), pp.1–11. doi:https://doi.org/10.4038/kjhrm.v18i2.108.

Oribhabor, S. and Hastwell, C. (2023). Talent Acquisition Strategy: Definition, Benefits, Strategies. [online] Great Place to Work. Available at: https://www.greatplacetowork.com/resources/blog/talent-acquisition-strategy-definition-benefits-strategies.

Rokad, N. (2023). Meaning of Talent Acquisition along with Process & Strategies. [online] Ismartrecruit. Available at: https://www.ismartrecruit.com/blog-talent-acquisition-for-hiring-process.

Yadwadkar, S. (2018). Top 7 Talent Management Strategies for Rapidly Expanding Organizations. [online] - Dr. Soniya’s Blog. Available at: https://www.cerveausys.com/blog/top-7-talent-management-strategies-rapidly-expanding-organizations/.