Recruitment vs Talent Acquisition: What are the Differences and Similarities?
The business world is evolving and changing so HR is still struggling with the challenge of finding and keeping talent. According to a SHRM State of the Workplace Study, 75% of HR professionals have noticed a skills gap in their pool of applicants. When asked about their greatest challenge in finding talent, one top reason emerged lack of well-qualified candidates, despite algorithms and robots, and another modern HR tech traditionally thought to be the solution.
We hear these terms often nowadays: Recruitment vs Talent Acquisition. These two terms are often used interchangeably, but the underlying concepts are very different. The term ‘talent acquisition’ is used to describe the process of finding, attracting and recruiting high-talent employees. For a company, the term talent acquisition includes the processes of evaluating talent and determining, developing, and retaining high-talent employees. On the other hand, the term ‘recruitment’ is used to describe the process of reviewing candidates, interviewing them, and offering them a position. This article will evaluate their differences to understand the subtle differences between both terms.
Definition of Recruitment
When companies are trying to fill a position, they need to find the right candidates. This means they are looking for talented people, who have the right experience and fit into the culture of the organisation. There are different ways employers find candidates for positions.
Recruiters may look through job boards, where companies post their job openings. They may also work with hiring managers to create a job posting that is distributed to a variety of places, such as their company website, social media platforms, and job boards. Companies may use internal recruiters to find candidates for positions via using their network of contacts.
Definition of Talent Acquisition
The main difference between recruitment and talent acquisition is that recruitment is the process of finding new people to fill a position, while talent acquisition is the process of finding the right people for the position. When doing talent acquisition, companies evaluate their current employees to determine if they have high talent. They also evaluate candidates who apply for positions at the company to see if they have high-level skills and experience. If they determine that a candidate is high-level, then they will get an action to hire them.
If a candidate is at a high level but there is someone already working in the position, they will try to find a different role for that candidate with the same skills. A company will often use a combination of internal and external talent acquisition methods. They may create job postings to attract external candidates and use their internal employees to attract candidates who may not be looking for a job.
Talent acquisition pros contend that recruitment efforts come off as reactionary, time-consuming, and ineffective for high-level roles when compared with the time and cost involved in talent acquisition.
What are the Differences Between Recruitment vs Talent Acquisition?
Recruitment vs Talent Acquisition- Difference #1: Skillset vs culture fit – One key difference between recruitment and talent acquisition is that recruiters are often looking for candidates with the right skillset. They want to make sure that candidates can do the job. On the other hand, talent acquisition managers are often looking for candidates with the right cultural fit. They want individuals who will fit into the organization and contribute to the team’s success.
Recruitment vs Talent Acquisition- Difference #2: Internal vs external – Another key difference between recruitment and talent acquisition is whether or not a hiring manager is looking at internal or external candidates. When a company is searching for internal candidates, they are trying to find people who are already working for their organization. On the other hand, when a company is searching for external candidates, they are trying to find people who are not currently working for the organization.
Recruitment vs Talent Acquisition- Difference #3: Job board vs internal platforms – One key difference between recruitment and talent acquisition is that a hiring manager will either use job boards or internal platforms to find candidates for their open positions. A hiring manager will use job boards to post their openings and search for external candidates. They will use internal platforms, like their company website, to find current employees and promote internal candidates.
What are the similarities between Recruitment vs Talent Acquisition?
Both recruiters and talent acquisition managers have the shared goal of filling available roles. In the modern business world, hiring managers should be concentrating on their key performance indicators (KPI) and managing current employees’ performance and development. Talent acquisition managers’ focus should be on putting the right people in the right seats. So, what are the similarities between recruitment and talent acquisition? Both recruitment and talent acquisition managers are responsible for filling available roles. Both recruiters and talent acquisition managers need to build strong relationships within their organizations. Both recruiters and talent acquisition managers need to understand their organization’s culture. Both recruiters and talent acquisition managers have access to internal and external job posting platforms.
Sum-up
The term ‘talent acquisition’ is used to describe the process of finding, attracting and recruiting high-talent employees. For a company, the term talent acquisition includes the processes of evaluating talent and determining, developing, and retaining high-talent employees. On the other hand, the term ‘recruitment’ is used to describe the process of reviewing candidates, interviewing them, and offering them a position.
The terms recruitment and talent acquisition are often used interchangeably, but they represent two very different processes. Recruiters are responsible for finding candidates who have the right skills and experience for open positions. Talent acquisition managers are responsible for finding candidates who have the right skills and experience for open positions and who also fit the company’s culture. A hiring manager will use job boards or internal platforms to find candidates for open positions. With these differences in mind, it’s easier to understand how these terms are different and how an organization can benefit from using both terms at the same time. Recruitment or Talent Acquisition, both terms are both critical components of organizational success and crucial factors for sustainable competitiveness in the marketplace.
